Tag Archives: prospects

Are you being used?

Are you being used?

Do you feel as though you spend a lot of time, and energy putting together proposals for prospects that never come to fruition? Many businesses that we work with feel the same. It can be all too easy to fall into other people’s traps, and end up being used.

Obviously, in order to gain new clients you will need to write proposals and show what you can do for that company or client, and it would be naive to expect all your proposals to turn into customers. However it is important to take a look at the situation of you feel as though you are not converting as many as you would expect into customers. Another instance where the ability to track your sales funnel is important to help you understand and improve it.

One such scenario is where a company is happy with their existing supplier, but want to tackle them on price. So they come to you to see what you can do, for what money, they take your proposal and your pricing and go back to their existing supplier with that information.They never had any intention of changing suppliers, they simply were looking for ammunition in order to drive down their costs.

We all do this to a certain extent, and it is a prudent business move to try and reduce costs with your existing suppliers. However if you are on the receiving end of other people’s ploys too often it can be a drain on your resources.

If you are experiencing problems in your sales funnel and feel that you are not converting your prospects into good quality customers, why not contact us today? Call us now on 0121 222 5743 to arrange a face-to-face meeting. Or for more information about improving your sales funnel click on the image below to watch the video.

Please follow and like us:

Suspect or prospect?

Suspect or prospect?

Unsure whether you have enough suspects or prospects? Or are you not entirely clear about what suspects and prospects are?

A suspect is a person who could possibly buy your product or service. You don’t know if they will, but they are a rough fit for your business. They are a possibility.

A prospect is someone who you have identified as having pain points which your product or service could solve. Hopefully you are communicating in some way with your prospects.

If you have ongoing communication with your prospects, you can ensure that you are the person they turn to when they are ready to buy. People don’t buy when you want them to buy, they buy when they want to buy. Your marketing needs to make sure that you are the person they think of when they make the decision to buy.

Multi touch marketing is an efficient way to remain engaged with your prospects. If you are struggling to manage your marketing why not take a look at our marketing manager service.

For a confidential, no obligation discussion about your marketing, call us now on 0121 222 5743

Click on the image below to learn more about suspects and prospects.

Please follow and like us:
Aardvark Marketing | Fear sells - or does it?

Fear sells – or does it?

Fear sells – or does it?

So, here we approaching the end of our first week of Brexit, and the recriminations, celebrations, uncertainty and political turmoil continues unabated.  I’m publicly steering clear of the politics, keeping my opinions to myself, but I’m struck by one observation that relates to sales and marketing.
It’s often said that fear is a strong motivator and can be used to create a powerful marketing communication.  And yet the Remain campaign, lost the referendum despite ‘project fear’.  Why did the fear argument not prevail?  Some will say it was down to personalities, but I think there was something more fundamental at work.
‘Fear’ is an anticipation of pain in the future, and avoiding it is indeed a strong motivator, however it isn’t the strongest.  The model below considers the relative purchasing motivation levels associated with ‘Pain avoidance’ and ‘Pleasure seeking’ against two time frames – the present and the future.

 


The evidence shows that for most people, avoiding current pain is the strongest motivator of all, with future pleasure the least powerful.
If we return to the referendum, I think most, if not all of the ‘fear’ messages that the Remain campaign communicated were associated with future pain (economic downturn, security …).  By contrast the protest vote (whether that be against the establishment, immigration, the government, the EU etc.) was more probably about current pain.
What does this mean for our businesses?  I would recommend you to look at your marketing messages and what they promise your customers and prospects – are they promising future pleasure or taking away a current pain.  If you can credibly focus on the latter (without becoming negative), your communications will probably become more engaging and help you stand out from the competition.
Of course to do this isn’t as easy as it sounds and requires a robust understanding of your target customers – if you would like some help with this or to talk about any aspect of your marketing, please call, email or send me a web enquiry.

Chris

Please follow and like us:
Aardvark Marketing | Why do prospects make 'bad' decisions?

Why do prospects make ‘bad’ decisions?

Why do prospects make ‘bad’ decisions?

Lots of small and medium sized businesses make really great products and offer first rate services.  In many cases they are better than the established big brands, and yet in their desire to challenge the market leaders, most run in to the same obstacle:
The prospect or potential customer makes a poor decision, sticking with the established supplier even though the product or service isn’t as good.
Many of the challenger brands are striving to become the new leader, the ‘default’ choice in their market.
So why do defaults persist, even in the face of ‘better’ options?  Here are four factors that help explain why customers stick with their established choices and don’t make ‘rational’ decisions:
Inertia – sticking with what we know usually requires the least effort on our part as customers. When we are in a hurry, it’s an easy solution.
Lack of expertise – in a situation where we feel unsure of ourselves and our ability to select the right option, the ‘default’ can be seen as representing advice from more knowledgeable customers.
Risk of change – while implicitly accepting that ‘the usual’ may not be the best choice, we know it well and what we might miss if we switch to an alternative.  Sometimes the known ‘loss’ can outweigh the potential ‘gain’.
Too difficult – our initial enthusiasm to find a better alternative can evaporate if we discover that comparisons are complex and drive us back to our regular option.
So, armed with this understanding, what can we do?
As a challenger, consider each of these potential barriers and find ways to reduce them or even remove them completely.  Can we make switching easier, can we give prospects the ‘expertise’ to make a better decision, can we mitigate the risks?
If we are already the ‘default’, we need to emphasise what our customers get from us, to reduce the risk of complacency, and highlight the risks of switching.  Oh, and keep an eye on the challengers too!
Chris.

Please follow and like us: