3 Main Reasons Your Prospects
Are Not Buying From You
In the video published on YouTube, Ira Bowman details three reasons why your prospects are not buying from you. They are as follows:
- They Don't Know You - Low Visibility
- Not an Expert or Trusted Advisor to Them
- They Do Not See A Good ROI Yet
As Promised on YouTube
The 3 Main Reasons They Are Not Buying
There are 3 main reasons the prospects who should be buying from you, are not.
Reason 1) They don’t know who you (or your business) are, so you’re in obscurity.
Reason 2) Your prospects don’t trust you as an expert who can resolve their problems.
Reason 3) You haven’t shown them a high enough ROI value proposition, so they’re not moved to action yet.
Two other major issues we’ll address on the show, you’re pitching the wrong people, or you haven’t made the CTA (call to action) clear enough. You have to ask for the sale, after the ROI-value prop is properly communicated.
Out of Site – Out of Mind
If your prospects don’t know who you are, or who your business is, the odds of them hiring you are zero percent. That’s a major problem! So if you’re new to an area, just starting a business or you have not done a good job at raising your business visibility, below I provide a list of suggestions to help you increase your presence. I strongly encourage you to do at least 5 of these, preferably 10 from the list. Why? You don’t want to put all your eggs into one basket. Just like an investment of money, diversifying your marketing efforts is a very wise thing to do. Also I strongly recommend you keep track, and monitor the results of each campaign you try, so you know what is working for you.
The best ways to increase business awareness in your target market, especially if your business is in obscurity, include:
- Define your target market. Who are you trying to reach? Once you know your target market, you can tailor your marketing messages and strategies accordingly. Take a look at who you have already sold to, as that’s the best clue as to who is most interested in your products/services. What do they have in common? Look at company size, location, vertical market, age of business, and other demographics. Survey your audience and ask probing questions about vendor preferences, needs, budget and wants. Once you have a solid target market identified, you are in great shape to gain market share, because you can narrow your efforts down and laser focus on your marketing message on what will resonate most with them.
- Create a strong brand identity. Your brand is what sets you apart from your competitors. It’s important to create a brand identity that is consistent, memorable, and relevant to your target market. It should include what’s in it for them, when they hire you.
- Be active online. Social media is a great way to connect with your target audience and build brand awareness. Be sure to post regularly, engage with your followers, and share high-quality content. Make sure to focus on how you help them accomplish their goals and deliver what it is they want. Don’t focus on you, focus your messages about them, so address FAQs, share industry/technology updates, and don’t forget to make it fun. Social media is social, not sterile.
- Run targeted advertising. Paid advertising can be a great way to reach your target market and increase brand awareness. However, it’s important to target your ads carefully to avoid wasting money. You want clear call to actions (CTA) with a catchy heading that appeals to their wants. Know what your audience wants, then make sure to hit that point or those points in your ads.
- Attend industry events. This is a great way to meet potential customers and partners and to learn more about your industry. The trick here is to be interested in them, ask probing questions, allow them to talk. If you do that, they’ll remember how you made them feel and you’ll stand out from 99% of everyone else just trying to sell something on the spot. Networking is about relationship building mostly, which leads to referrals and sales later.
- Offer free content or samples. This is a great way to introduce people to your business and your products or services. White papers, booklets, audio files, videos, a free session or product are all great give aways, but always do it in exchange for something valuable, namely contact information, so you can market to them for the long haul.
- Partner with other businesses. Partnering with other businesses in your industry can be a great way to cross-promote your products or services and reach a new audience. This is called a joint venture and allows you to win on several fronts, you get to show them your value and they help increase your exposure to their clients and prospects. When you approach another business about a joint venture opportunity, share with them the win-win vision, so they see the value that they get from participating.
- Get involved in your community. Sponsor local events, donate to charities, and volunteer your time and expertise. This is a great way to build goodwill and brand awareness in your community.
- Provide excellent customer service. When people have a positive experience with your business, they are more likely to tell their friends and family about it. This can lead to word-of-mouth marketing, which is one of the most effective ways to increase brand awareness.
- Create a website and blog. A website is essential for any business, and a blog is a great way to share your expertise and build relationships with potential customers. There is no greater source of visibility anywhere on the planet than on websites and online via email these days. Your website needs to focus on how you help your target market get what they want. It should not read like a brochure, it should be filled with information your target market in interested in, like case studies of how you’ve helped others in the past, answering frequently asked questions, sharing helpful tips and free content that will benefit your audience. Once they find you are a trusted resource for this, then who you are and what you do becomes more important, but don’t lead with all things about your history and qualifications. That can go on the about page, and not take up priority real estate on your home page. The blog should be updated with new content at least once per month, but once a week is optimal.
- Write guest blog posts. Writing guest blog posts on other websites in your industry is a great way to get your name out there and reach a new audience. Find other websites who reach out to the same core audience you do, but who offer different products and services than you, and offer to write a guest blog for them, as a value add to their audience.
- Create informative videos. Videos are a great way to engage your audience and share your message in a visually appealing way. Over 80% of all online users will end up watching at least one video while they are online. Give them at least one video option on every page and blog on your website.
- Use social media advertising. Social media advertising can be a very effective way to reach your target market and increase brand awareness.
- Run paid search ads. Paid search ads can help you get your website to the top of the search results pages for relevant keywords.
- Attend trade shows and industry events. This is a great way to meet potential customers and partners, and to learn more about your industry.
- Network with other businesses in your industry. Attend industry events, join online forums, and connect with other businesses on social media.
- Offer discounts and promotions. This is a great way to attract new customers and increase sales.
- Get involved in your community. Sponsor local events, donate to charities, and volunteer your time and expertise. This is a great way to build goodwill and brand awareness in your community.
It’s important to be patient and consistent with your marketing efforts. It takes time to build brand awareness and increase sales. But by following the tips above, you can start to see results.
Building Trust – Demonstrating Expertise
- Be active on social media. Share your content, engage with your followers, and answer questions. You can also use social media to run contests and giveaways.
- Create a strong online presence. Make sure your website is well-designed and informative. You should also have a professional email address and social media profiles.
- Get involved in industry associations. This is a great way to meet other experts in your field and to stay up-to-date on the latest trends and developments.
- Speak at industry events. This is a great way to share your knowledge and expertise with a wider audience.
- Write a book or white paper. This is a great way to demonstrate your expertise and to position yourself as a thought leader in your field.
- Get on video and post it to your website, social media and email the videos out to prospects. Talk about FAQs (Frequently Asked Questions) in your industry, and share case studies of how you have helped others by describing their problem, the solution, and the outcome.
- Read books and do research on the emerging trends in your industry. Then make sure to send emails with tips to your prospects, share posts about it and make videos talking about the new information and data you’re reading about. Talking about trending and new data can help you be seen as an expert quickly.
- Get on other people’s podcasts and talk about how you help your clients resolve their issues and if you’re reading those books, talk about the trending data and new information you’re learning.
- Consider pay-for-play magazine articles, to be featured in Forbes or any vertical market specialty publications that reach your specific target market. Many up and comers need a springboard into the public eye, and it’s hard to beat the credibility that comes from being featured in a major publication.
- Apply for industry awards, even pay-to-play awards can be helpful.
- Ask for Google, Clutch, Trustpilot and other online reviews, then make sure to feature those predominately on your website.
- Consider some Joint Venture opportunities where you team up with other industry experts in other fields, to collaborate. You can increase your star power by drawing from theirs, in their field.
- Demonstrate your expertise. Share your knowledge and experience through blog posts, articles, videos, and other content. You can also participate in industry events and online forums to answer questions and share your insights.
- Have a professional Media Kit created for you, see mine as an example, that highlights all of your experience with videos, books, articles, photos, podcast appearances, awards, and more.
- Issue a press release. You likely will need to hire someone to do this for you unless you’re in the marketing space, but the press release can help your SEO for your website (as long as you include backlinks to your website) and help position you as an expert at the same time. I recommend my clients put out press releases at least once every 90 days.
Quote Made But No Order – How To Land The Sale
If you’ve presented the quote and done a good job of building your brand expertise but they’re still not ordering from you, then assuming you’ve targeted the right prospects, you likely have issues with the presentation itself. These are easy to rectify, and I have a variety of suggestions for you to consider below. Make sure you are not the problem by having someone else spot-check your presentation and give them permission to be brutally honest with you. You should prefer knowing the truth, then talking to a “yes man” here, because your sales are at stake.
Have your spot-checker look for and answer the following questions about your presentation:
- Do you understand clearly the solution presented and quoted?
- Is the Call To Action clearly stated?
- What do you think about the presentation layout?
- Are the graphics interesting and relevant to the quote?
- What is your least favorite thing about the quote presentation?
- Is the quote too long?
- Are the purchase options clear?
- Does the quote clearly ask for the sale?
- Is there clear contact information in the quote?
- What suggestions do you have for improving the quote presentation?
Take their feedback and make adjustments as needed. You might want to do this several times with multiple people. More feedback here is good, especially if the feedback is coming from people inside your vertical market demographic.
How to Fix Your Sales Quotes
and Presentations to Drive Sales
Now that you have some independent feedback on what’s likely not working for your quotes, I suggest you remove the ego that can be the biggest roadblock to success and make changes to address the problems.
Here is a list of my suggestions on things to address:
- Focus on the benefits to the customer. What problems will your product or service solve for them? How will it help them save money, make money, or improve their bottom line?
- Be specific and quantitative. Don’t just say that your product or service will save the customer money. Say how much money they will save. Don’t just say that your product or service will help them increase sales. Say how much they will increase sales.
- Use case studies and testimonials. Case studies and testimonials from past customers are a great way to show potential customers the real-world benefits of your product or service.
- Tailor your sales material and quotes to each individual customer. Take the time to learn about each customer’s specific needs and challenges. Then tailor your sales material and quotes to show them how your product or service can help them achieve their goals.
- Make sure your sales material is well-written and visually appealing. It should be easy to read and understand, and it should use images and graphics to engage the reader.
- Use clear and concise language. Avoid jargon and technical terms that your customer may not understand.
- Highlight your unique selling proposition (USP). What sets your product or service apart from the competition? Why should the customer choose you over your competitors?
- Make it easy for the customer to buy. Your sales material and quotes should include a clear call to action. Tell the customer what you want them to do next, whether it’s to schedule a demo, sign up for a free trial, or make a purchase.
- Make sure you’ve addressed any objections or concerns the prospect made during your discovery calls, in the quote presentation. This shows you were paying attention and you are going to resolve their key concerns if they move forward with your proposal.
- Make sure you are flat out, plainly asking for the sale. Too many sales representatives or business owners will send pricing, but not actually ask for the sale itself. You might have not, simply because you asked not.
What is a Value Proposition
and How to Demonstrate it Clearly
Does your presentation have a value proposition? Likely yes, but if you’re not sure, let’s discuss it. The value proposition tells the prospect what happens when they buy your product or service, as a result of becoming a customer. What problem did you solve or how does it help them? Typically this can be done with an objective summary page.
You should be listening to what issues the prospects discuss in the discovery process. The answers they are giving to you when you’ve asked your probing questions should be the concentration of what you cover in the quote’s objective summary page. Why? Because those are the things that they have shown they’re most interested in.
If you have a boilerplate-type quote, that never addresses custom concerns, this is likely part of your overall sales issue. Customization of the quotes, especially addressing their issues and how you will help resolve them when they purchase are key to getting people to move from the fence, and pull the trigger on a deal.
One other big issue is to not overcomplicate the quote with highly technical jargon. Most executives and business owners are looking for a 30,000-foot simplified view of how your product or service can help. So know your audience. If you’re pitching a lower-level department manager, they might want more technical jargon. So ask in the discovery phase, who will review the quote, and what type of technical detail they want it to include. Also, you should always ask who you’re presenting the quote to, and who the decision-makers are in the process anyway. In most cases, more than one person, unless you’re dealing with the owner of a sole proprietor business, will be looking at the quote and in on the decision. So you don’t want to lose a deal because you made the quote more technical than the person reading the quote can understand. Very few people appreciate feeling ignorant.
Make sure you show them a strong and clearly defined ROI (Return on Investment) if they pursue your proposal. For example, if you’re helping them reduce time needed in their business to complete a function, or helping them lower costs, it helps to extrapolate those savings out and put it in a nice easy-to-read spreadsheet. I try to keep these to 4 or 5 rows with only 3 or 4 columns. Make sure the savings summary totals are large and bold font size.
How to Increase Sales by Increasing Visibility, Establishing Expertise, and Providing Value
In today’s competitive marketplace, it is more important than ever to increase your visibility, establish yourself as an expert, and provide a clear value proposition to your prospects. As we’ve discussed in detail here today, when you do these things, you will be more likely to attract the right audience, close more deals, and increase your sales.
Increasing visibility
The first step to increasing sales is to increase your visibility. This means getting your brand and your products or services in front of as many potential customers as possible. You can do this through a variety of channels, such as online marketing, social media marketing, and public relations.
Establishing expertise
Once you have increased your visibility, you need to establish yourself as an expert in your field. This means demonstrating your knowledge and experience to your potential customers. You can do this by writing blog posts, articles, and white papers; giving presentations at industry events; and participating in online forums.
Providing a clear value proposition
Your value proposition is what sets you apart from your competitors and explains why potential customers should choose you. It should be clear, concise, and easy to understand. It should also be specific to the needs of your target audience.
Talking to the right audience
It is important to talk to the right audience if you want to increase sales. This means targeting your marketing and sales efforts to people who are most likely to be interested in your products or services. You can use a variety of methods to target your audience, such as demographic data, psychographic data, and behavioral data.
Asking for the sale
Finally, don’t forget to ask for the sale! Once you have qualified your lead and presented your value proposition, it is important to ask the customer to buy from you. If you don’t ask for the sale, you will never close the deal.
By following these tips, you can increase your visibility, establish yourself as an expert, provide a clear value proposition, talk to the right audience, and ask for the sale. All of these things will help you to increase your sales and grow your business.
If you need more help addressing your prospects and garnering sales, don’t hesitate to reach out to our team at Bowman Digital Media for help. We are here to help with digital marketing, social media, email marketing, press releases, book publishing, photography, and video editing services to help our clients be seen by their target audience and seen as an expert in their field. We can also help with any graphic design you need to spruce up your marketing materials, sales presentations and more, so you can get your sales where they need to be.
Contact Ira Bowman at ira@bowmandigitalmedia.com for a free 30-minute consultation or visit our website at https://bowmandigitalmedia.com/