Hi, everyone!
I'm Melissa from Melissa Forziat Events and Marketing, and today I wanted to share with
you my newest Tip of the Week, which is about how marketing is a numbers game.
And before I start in with the tip I wanted to give you a little information why I chose
to write about this this week.
I find that marketing is a very scary thing for a lot of people who are new to marketing
or who are new business owners.
It can be very daunting to know that you're putting yourself in the way of potential rejection,
and so this can be something that really prevents people from making strong pitches or making
any pitches at all.
So, I wrote this tip as a way of reframing that rejection, because when we look at marketing
as a volume exercise, and we know that a little bit of rejection is built in, it just becomes
part of our process instead of the be all, end all of our business.
So, I hope you'll listen through this whole tip.
If you wanted to read it, I've also got a link to it that I've provided here, but in
case it is easier for you to consume the information with me reading it, feel free to stay with
me.
So, marketing is a numbers game.
For many people, the scariest part of running a business is marketing and sales.
Rejection is built into the process, and the thought of it - even just the thought of it
- is a stressor that makes it hard to present a strong, confident pitch.
Today we're going to talk about a mindset shift that will help you fix this: remembering
that marketing is in fact a numbers game.
I find that, especially early on in business, marketers court a low number of prospects.
With so few people entering into your marketing funnel, it puts extraordinary pressure on
each and every lead you bring in.
This is pressure that you'll feel.
It's pressure that they'll hear in your voice, and it's pressure that they'll see in your
words.
It's very tough to be successful from this position.
What we need to remember is that sales is about percentages.
A percentage of your cold contacts will respond.
A percentage of those who respond will actually have interest.
A percentage of those who are interested will eventually turn into a closed sale.
And - the honest truth here - that percentage...none of them are 100%.
Even the people who are interested won't close 100% of the time.
So, an interesting tidbit here is that in the nonprofit world, it's often said that
a direct mail campaign to your warm donor list is successful if it yields 2-3% donations
in return for that campaign.
This is a warm audience, mind you.
That's numbers to really think about.
If you're planning a webinar, you can expect about 30% of your registrants to show up,
on average.
If you're planning a fundraising event, there will be "no-shows" even on the day of, and
a lot of times the couples who attend together will bid together.
When you start to think about the numbers game aspect of it all, this can get really
sobering.
So, what does it mean for you?
What it means is that you want to make sure that you have a higher volume of leads in
your marketing funnel.
Just to give you an example on this, I remember a day - many years ago - I was walking down
the street, and I learned a very important sales lesson while I was doing that.
So, I'm on an afternoon walk, and I'm on a busy street that is full of pedestrians.
I walk by a man who is standing kind of in the middle of the road, and he is facing all
the people who are coming towards him.
And, as I got closer to him he sort of picks me out of the group, and he says, "Hey, beautiful!
Nice hair!
Want to talk?"
And, I didn't love this, right, so I just ignored him.
In fact, stuff like this really annoys me.
So, once he was a little bit behind me...I had promptly walked away, I had gotten some
distance from him, but I could still hear him.
He waited a few seconds, and he did the same thing to somebody else.
Presumably, he did the same thing all day long, right?
So, I get to work, or I get wherever I was going, and I am talking to a friend, and my
friend says, 'What happened today?"
I told her about this experience, and I said, "Who does things like that?
What a terrible way to get a woman's attention."
And she said to me, "Well, if 1 out of 30 women are okay with it, he's got a date."
It was a lesson to think about, right?
This is food for thought.
He was playing a numbers game.
And, you know what?
He was probably successful that day, eventually...when he found the right number.
So, I don't necessarily strive to be that man, but he did show an important principle
of marketing that has applied to my business, and it has applied to many of my clients'
businesses as well.
You need a high volume of leads entering your marketing funnel if you have a chance of closing
the number of sales you want in the end.
And this is why it's so important to keep real, realistic statistics of your customers'
behavior.
This is very beneficial down the road for you, because once you start looking at business
growth or meeting new sales goals, you're going to need to know how many prospects you
have to cultivate, how many clients you need to court, how many people you need to walk
into your shop, how many people you need to click through on an offer in order to yield
the desired sales results.
Now, in the case that you have a business that focuses on the prestige factor, this
still applies to you.
Even if rarity and the "wining and dining" method of lead cultivation means that you
need to be really focused on one client at a time, the rule still applies, because in
order to find that client that you want to wine and dine, you need to find those great
leads.
And you're probably going to find them in a sea of other warm leads that aren't quite
the right fit for you.
So, why am I saying all this?
I don't want to scare you with this talk about volume.
I don't want to scare you with this talk about marketing being a numbers game.
I actually want this to encourage you.
To encourage you to move forward.
If rejections hit you hard, this is a great way to reframe them.
Only a small percentage of the people you talk to are going to be your customers.
You are on the hunt for those people.
So, build a little more volume into the front end of your funnel, so you know the right
people are in there somewhere.
Now, when I say that marketing is a numbers game, I don't mean to imply that you can sacrifice
customer service because the numbers will eventually work out, right?
You still need to put your best foot forward with all these people that you are going to.
But, I believe that this way of thinking actually helps you do that, because it is easier to
put your best foot forward when there is less pressure on every conversation that you're
having.
So, when you think about your business.
When you think about the structure of your marketing funnel.
When you think about your sales process.
How does it change if I tell you that only 1% of the leads you bring in will turn into
customers?
Lean into this.
Start approaching more leads up front.
Stretch yourself to get more prospects in your pipeline.
And if you do all of this, you'll find it easier to focus on the successes.
Thank you so much for listening today.
If you want to read this, go ahead and click through to that link, and Happy Marketing!
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