In the world of business in general, and marketing in particular, there are many metrics for measuring success. The metrics could be Return on Investment (ROI), Conversion rate, Number of Signups, Increased customer base, increased customer retention or any other type of metric. These have all become very important in measuring the success (or lack of it) of any business. In actual fact, if you are directly responsible for the sales of your company, the security of your job might depend on how these numbers stack up for you.
I have seen so many people get it wrong with so many things in their business and yet they complain about one thing or the other, “I have many subscribers but very few sales”, “I feel like I’m marketing to the wrong set of people”, “I keep sending emails to these people, yet they won’t buy.” Well, if you are in such a case, you should definitely read on as you might be getting a couple of things wrong. Here are 6 reasons why you might not be generating as many sales leads as you’d have liked.
1. You Are Targeting An Overly Broad Audience
You may be one of the people that feel that you have to offer as many services as possible before you make any reasonable profit. That’s as far away from the truth as it could get. The truth is that you have to be known as an authority in a market before people get to trust you with their money. You can’t be a master in everything. You can’t go out there and claim to be a pro in mortgages and at the same time claim to be the go-to guy for anything content development. You can’t claim these two and still expect people to turn to you when they have web or mobile app development needs. You have to be known for something. CNN is known for news, not electronics while the guys at BMW are known to churn out automobiles, not news.
This problem can easily be solved by taking stock of your activities to find out which ones are absolutely essential to your success (those bringing in the highest returns and those that are showing the greatest potential for growth). When you get these listed, you can as well discard the others, your business would be better for it. So, when you find out that sales are stalling or dropping, it might be time to take a reality check and find out what you can do without, and drop them.
2. You Have A Product-To-Audience Mismatch
What is a product-to-audience mismatch you may ask? Good question. A product-audience mismatch occurs when you are offering a product to the wrong audience or vice versa. This problem is usually more pronounced when you serve a broad audience as I stated in the first point. It is easy and tempting to offer an all-in-one blueprint that will serve every single category of visitor you get on your website, but as you will see in the next point, you will only be short-changing yourself by doing this.
Why don’t you do a thorough research and find out what exactly your audience want. Do they prefer to watch videos, or do they prefer eBooks? Are they mostly women or are they mostly millennials? What job is a typical visitor on your blog likely to be doing? Who are the most likely people to buy from you? Will webinars work for your audience, or will they prefer infographics? Ask questions like these and develop Personas based on the questions you answer. Personas will help you separate your entire pool of visitors into segments and it would better help you target each group with relevant products. Do this and your sales should skyrocket. You can find out more about creating buyer personas here.
3. You’re leaving Too Much on the Table
As I stated earlier, when you try to offer the same thing to everyone in your audience, you are short-changing yourself. Imagine that you come across an article on your favourite blog or you find a podcast from your favourite marketer. If such an article claims to be 100,000 words long because it has to address every single known issue problem under heaven or such a podcast runs for 8 hours, would you be so interested? No imagine if you are faced with the problem of a drop in subscriber rate and you come across a 900 word cheat sheet that will succinctly give you what exactly you need to overcome that problem, which one are you more likely to go for? By bet is as good as yours. So, once again, don’t try to be an authority to everyone, instead find an audience you can serve exceptionally well and provide great value to them, before you know it, you’ll become an authority.
Another way where you might be leaving too much on the table is when you develop content without a purpose. You should not just fill up your website just for filling it up, you should have a purpose for each post. Are you trying to get people to attend an event? Are you trying to get people to download a free product? Do you want people to subscribe to your newsletter? Then write to achieve that purpose. Let there be a call to action with each post. Give your visitors very few options. Don’t just keep pouring out content without telling them to subscribe to get more. Don’t leave too much on the table.
4. You Have A Leaky Sales Funnel (Or None At All)
What is a funnel? A funnel is simply a set of steps you put in place that will take ttally new visitors and help them become buying customers. In this case, it is okay that some people drop off along the way, but when this gets too much, it becomes a problem. Having a leaky sales funnel is another way of leaving too much on the table, a grave one. This one is important because you are dealing with actual sales here. This is not a stage where you are just trying to get visitors to your website – you have them already, and they are not only visitors, they’ve become leads. They are interested in what you have to offer and they are willing to give it a go. To lose a lead in your sales funnel is simply to lose money, no two explanations for that.
So you have to learn about building effective funnels. If you don’t have any funnel whatsoever for your business, I really don’t know what else to say than to say, “Start building one today!” If you are interested in learning how to build effective funnels (especially using Social Media), I have a free video for you. You should make it a point of duty to check it out.
5. You Throw In The Towel Too Early
Now, I won’t dwell much on this because it is way too obvious. But the disheartening thing is that people, many people, are guilty of this. So, are you getting across to your leads less than four times before leaving them? Are you quitting because results are not coming as quickly as you want them to?
I implore you to stick with what works. If you have seen that a marketing campaign brings in 10 sales (when you wanted fifty) why not multiply your spend by five. You can then have fifty! The trick is in finding out what works and scaling it up.
6. You Have The Wrong Attitude
Some people will tell you that attitude is everything. That’s almost absolutely true. You can have the right product and be in the right market, and yet you could struggle to make sales. Why? Because your attitude is wrong, and your audience will smell it. It isn’t so difficult to notice someone that is only interested in making more money and that cares nothing about the success of his audience. It isn’t difficult. You may succeed in providing paltry value the first time, people won’t be fooled into buying the second time.
So, What Should You Do?
You should make it your top priority to provide great value to your visitors, leads and clients. You will enjoy the rewards in due time. Also, if you haven’t thought about creating funnels or you don’t know much about creating funnels, you really should check out a video I have put together that shows how you can build your business through Social Media.