Want to know the secret to convert every cold lead into lifelong clients? Two words: buying cycle.
Leads need a certain amount of touchpoints and offerings to build trust with a business to eventually take action and become lifelong clients.
Where most businesses struggle is that they skip to the last stage of the buying cycle: Purchase.
As a consumer, we’re not likely to take action or purchase if a business asks us to shell out cash without knowing anything about them. Even if we did know a little about their business, how do we know we can trust their offering?
Think of it this way – Only 2% of the world population will purchase without going through this buying cycle.
That means that without it, you are missing out on 98% of your potential customers. That is such a staggering number.
So how can we change this?
By building a rock-solid buying cycle that brings leads through a journey that provides value, helps build trust, and gives them the touchpoints they need to take action.
Let’s breakdown the stages:
Stage 1 – Awareness
This stage is about reaching the masses. Making valuable content accessible to your audience starts the buying cycle. This stage doesn’t require an exchange of information for your content, but rather getting your business recognized.
Value-add examples: Social media, Youtube, articles
Stage 2 – Interest
Building on the value provided in the Awareness stage, the Interest stage includes providing more free value in exchange for basic information, such as emails. This enters your leads into your ecosystem.
Value-add examples: guides, case studies,
Stage 3 – Decision
This stage is used to provide the last big value-add for leads before you ask them to take action or purchase. This is the last push to get them to the top of the rollercoaster before they take the final plunge and work with your business.
Value-add examples: free trials, webinars, ebooks
Stage 4 – Purchase
When leads get to this stage you’re finally ready to present them with your final offer or purchase. At this point, the lead has received enough value from you and engaged with your business that you’re going to have a high conversion rate.
Each step is just as important as the other and if you skip one of them, you’ll jeopardize the effectiveness of your lead generation and potential sales.