In my post of 12th April I had written about how B2B sales are not impulsive in nature. If you’re selling something which is a hot new technology and the buyer is a technology fan then you might be able to sell based on just the technology being new.
On the other hand , most B2B businesses have different levels in a buying process for any kind of product or service, especially if you are looking at a mid to large to extremely large companies. In these kind of companies the inertia itself is very large and the processes complex, so getting a process initiated itself is a task.
So until and unless there is a real challenge with a vendor no one wants to change, even if you have done the perfect segmentation and identified them as your ideal customer.
In the post on 12th April I wrote about how your messaging should keep targeting some areas of dissonance. However you cannot create dissonance with one piece of messaging, it will never stick. The longer a vendor has been providing the services to an organisation the bigger is the chance that the vendor’s issues will be ignored. Also not all issues – using an example from calculus – tend to cross the limit/threshold – where the customer snaps.
So when entering with a regular product or service you need to look at a long term time frame of say 2 years – it could be longer depending on the product or service – airplanes as an example – people may take 5-10 years before deciding on moving from say Boeing to Airbus .
Then you need to keep at sending out a weekly mail/postcard or whatever to be in-front of the buyers so that when the limit / threshold is reached they call you out by default. This persistence in marketing or as Dean Graziosi calls it – Marketing Stamina helps you pick up business in the long term.
Till next time then.
I had written yesterday how I felt so weak after getting the vaccination for COVID-19 that I had to cancel all my meetings with my team.
Today also the weakness continues so this post will also be short.
I had every inclination to not write this post, I could have given myself the excuse that I am not well.
But then I keep talking about being persistent day in and day out, so I would not be practicing what I preach, which would be an integrity problem.
Even if we do something in limited quantity but do it consistently so that the practice is not lost, whenever you get better , you will be able to scale up very fast.
This is also very true with your marketing. If you don’t want to have a Yo-Yo business then come what may, you have to ensure your marketing engine keeps running.
This is all for today.
Till next time
I had heard this word for the first time about 2 years back in one of Dean Graziosi’s books or training seminars. I heard this again today while I was doing the Breakthrough DNA training, from Dean Jackson.
I have pre-dominantly come from the technology background where typical deal cycles are around 3-6 months. Being B2B, these are not impulsive purchases where people are not bothered about the risk with low value items.
In this scenario it takes months and months of messaging, following through, which results in leads getting generated.
Even after the leads come through its not going to result in an order.
Its your persistence to keep following up with the leads on a regular basis because sometimes it could take months for these customers to decide. This persistence is what both these gentlemen call as Marketing Stamina.
To ensure Marketing Stamina you need content to keep adding value to your prospect. But you also need to have cash flow to ensure you survive while this process is going on.
This is where the economics of lead generation and lead nurturing come in. You need to be clear how much money has to be spent to get a lead to come into your funnel and how much time the lead stays in the funnel before they buy (not necessarily from you). During this time you have to keep nurturing these leads.
This is different from the concept of Life Time Value. Life time value is about long term profits from a customer and the referrals. However the economics of lead gen and lead nurturing are more related to cash flow today.
So based on your economics and what you can afford to spend you choose the media for running the message to your prospects for both lead generation as well as for lead nurturing. You can’t run out of money or stamina because that is how you will build a long term business.
Till next time.