A Simple Marketing Mistake That Costs Business Owners $1,000s Of Dollars Every Year. Correct It And

Many business owners simply set up shop and instantly start running ads

. They never invest any time in designing their marketing or sales strategy. The result is that they lose thousands of dollars and usually dont get the sales results that theyre after. Were going to share with you a simple marketing strategy thats time tested and business proven. It will empower you to get the maximum leverage from your marketing efforts.

Think of the overall market in your city. Your potential market is comprised of all the potential buyers of your product or service in your city. To simplify the process, we overlay a Spectrum, called The Buyers Spectrum, over top of the potential market. Realize that on one end of the spectrum, 3-5% of the market have a preferred vendor (a family member, a business that theyve been with for years, etc.) and will never buy from you.

On the other end of the spectrum, 3-5% of the market are NOW buyers and respond quickly to virtually any type of marketing. This leaves roughly 90% of the market that doesnt want to buy what youre selling right now yet WILL BUY at some future date.

Amazingly enough, the majority of companies focus their marketing efforts exclusively on the 3-5% of the market that are NOW buyers. They leave the remaining 90% of potential customers on the table. Their philosophy is that if a prospect doesnt buy from them right now, then they discard them and focus on the ones that do want to buy from them. If you share this philosophy, youre making A BIG MISTAKE!

Why do you ask? Well, think about a grove of orange trees. If you wanted to pick the ripe oranges, do you think that all of the oranges ripen at the same time? Of course not. The oranges ripen all at different times (we call this The Customer Buying Cycle). So what do you do, simply pick the few oranges that are ripe and then burn the rest of the field? Once again the answer is no. Yet this is what many companies do.

If you want to get more of the ripe oranges, then what you must do is water, fertilize and nurture the orange tree grove consistently. Bit by bit, the other oranges WILL RIPEN. And when they do, youre there pick them. Now you may not get them all yet youll certainly get the lions share.

In the same way, you water, fertilize and nurture the 90% of your potential market that doesnt buy right away. And like the grove of orange trees, bit by bit, they too will ripen or buy what youre offering. If your marketing strategy addresses this, then you will get the lions share of the customers.

For you to get most out of your marketing and sales, your marketing strategy must address the phenomenon of both The Buyers Spectrum and The Customer Buying Cycle to be effective. Make sure to read our article How To Increase Your Sales By 300% Or More By Effectively Leveraging Follow Up Systems.

by: From The Minds Of Wharton

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