Ever wonder how some companies are so successful at making money? What are they doing that’s so different from you? You have a great if not better product, you promote like crazy, and you offer exceptional customer service. So what gives?
We’ll let you in on the secret: smart marketing tactics.
Knowing how to plan your advertising and marketing activities around your sales cycle is key to successful companies’…well…success.
Know Your Customer’s Engagement Cycle
First thing you must do: understand the sales cycle by how customer’s engage with your company:
(1) Prospective: Use marketing and advertising to pique interest and attention of your prospective customers. By grabbing their interest, you create new leads for your company.
(2) Valuing: This is the point that you use marketing strategies to engage your new leads. At this point, the potential customers are giving you the “ok” to market to them. Give them the reason(s) why they should support your company and buy your product. At this point, you aren’t selling. You are merely giving them the value of your solution.
(3) Closing: And this is when you close the deal! Earn your hard earned cash by providing them with the solution to their problem.
(4) Maintaining:Once you close the deal, you don’t just leave that customer. Like any relationship to continue health and longevity, it must be nurtured and maintained. It is a whole lot cheaper to keep current clientele than it is to earn new clientele.
Evaluate Internal Activities
Like outlined above, smart advertising requires that you know who your customers are and their engagement stage. However, smart advertising also requires that you understand your internal activities.
- Are you introducing a new product or service?
- Have you updated a company process or offering?
- Are you attending an event featuring a specific product?
- Does the current season highlight a season specific option for customers?
Use advertising to highlight the answers to these specific questions during the right time. If you’re introducing a new product or service, your advertising and marketing efforts should focus on that and not a product that’s been around for months. If you’re attending an event to feature a specific product make sure your advertising highlights that. Timing, timing, timing!
- Improve ROI: If you’re investing in advertising that is appropriate to your sales cycle or the stage that customers are in, you improve the return on investment. Relevant marketing and advertising = reaching clientele more effectively.
- Promote quality leads: Properly marketing and advertising to the customer’s engagement stage promotes the reception of quality leads. Quality leads = increase money making potential.
- Shorten sales cycle: Smart advertising drives customers through the sales cycle faster. You are giving them the information they need, when they need it. This will also allow your sales team to use their time to convert leads into sales!