Anytime we see shifts in the market across the board we love to share them with our crew.
We’ve been having a ton of conversations with business owners the past few months and analyzing the front and back ends of funnels across industries (B2B, B2C), product wise and we’re seeing some patterns emerge.
We’re sharing three takeaways for you to think about this week as you continue to optimize your business.
An increase in touchpoints are needed in the sales cycle
Across the board we are seeing an increase in needed touchpoints for customers before they buy.
Gone are the days of putting a sale ad/email in front of customers and they just instantly buy. For the most part we are seeing more questions of “is this product right for me?” across industries and businesses. It was confirmed in this massive study by Vogue earlier this month. It’s primarily focused on GEN Z but most other generations are acting the same (GEN Z is just confirming the future).
➡️ What this means for you:
Personalization and increased accessibility will help you continue to see success in sales and also create a better experience for your customers. More touch points (supported by ads to automate it) supports this deeper sales cycle. It’s no longer linear. You need to follow the new way of running ads:
📌GOOD NEWS for you: we built the Have Them At Hello philosophy on this exact premise years ago and it’s the reason why our members deploying at are having success with ads at higher rates than ever.
📌 Watch our brand new training here (30 minutes long) where I break down the new vs old model here.
A “no” now isn’t a “no” forever.
Quite often it’s actually a yes, but in a little bit.
Think about it this way: if a successful, profitable funnel is when 5 out of 100 people buy from you, that also means 95% of people said no to your offer the first time!
That means you now have the attention of another 95 to make sales from later. When you shift your perspective on this your whole business world changes. This is when your ads + marketing should turn up and help ensure that person that your product is the right fit for them.
In an amazing economy it can be easy to say “forget about them” to the people who said no or say they “weren’t an ideal buyer”. In an ok economy it becomes a must to focus on them.
We think that you should always focus on a great customer experience and honor the customer’s buying journey. They are all valid.
➡️ What this means for you:
Think of someone not being from your ads or funnel today simply as a “I need more time”. There’s truly no wasted ad spend if your foundation is right, you’re attracting the right people. They simply just need a bit more time to ensure they are spending their dollars well. (We should support this).
Inside the Have Them At Hello Accelerator we break down how to take all of the “No” into “Yes!” and how to speed up that process in a way people appreciate.
Your product/offer price needs to match value AND the marketplace
An example: a client was selling a B2C product at $797. The sales rate was stagnant and profit margins were slim. She tested selling the product at $397 and sales soared, she quadrupled her revenue and experienced 50% profit margins.
The product wasn’t selling because of a bad audience or the funnel not being right.
It was simply that the product didn’t match the perceived value to most potential buyers.
➡️ What this means for you:
Consistently evaluate your pricing, your marketplace, alternatives in the market for your ideal customers to ensure profitability.
It may be time to do some testing
In business things are changing all the time. This is true of ads, funnels, offers as well as the wants and needs of your customers.
Just because something worked 3 months ago doesn’t mean it will today.
Build the right foundation and continually serve your customers well.
