How to accelerate client acquisition
There are better ways to acquire customers profitably that most people miss.
Our client acquisition acceleration strategy is designed to help companies get to the hard to reach customers with new cutting edge strategies to maximize profits.
It starts by breaking down and mastering the 4 factors in the BUYER SCORE.
We’ve worked behind the scenes with some of the biggest companies across the globe. I’ve personally worked with 2 billionaires and a prime minister on these strategies.
With new competitive intelligence and automation software available, it’s easier than ever to test strategies and see what the most effective companies are doing to acquire clients.
This gives as a lot of data and experience to draw from.
We believe this is the best strategy for companies to follow and soon will become a requirement to sell effectively in your marketplace.
The Death of Traditional Sales and Marketing
The clock is ticking on outdated client acquisition strategies based off hard pressure sales and one call closes.
Customers are more jaded than ever.
The complexity to acquire customers is on the rise and few people have figured out how to do this effectively. According to B2Bmarketing.net, only 32% of companies saw an increase in revenue due to implementing marketing automation platforms.
The breakdown often occurs between the initial customer contact and lead qualification process.
That’s why we have our clients master their BUYER SCORE so they can effortlessly influence prospects to buy.
This little understood area is a constant headache for companies looking to scale growth, especially in highly competitive markets.
Two Distinct Customers
Most marketing strategies are built around “immediate gratification” customers who are going to buy within 15 days of entry into the customer acquisition process.
Most strategies have a heavy buying push in the first 1-4 days.
These processes work very well to quick-response buyers, though very few companies have built a sustainable business out of this strategy.
The reason is that it’s not where a majority of the money is in most markets.
90% of business profits lie in the high-value customer arena.
The challenge of reaching these customers is they are particularly non-responsive to marketing messages that the “heart attack” customers will respond to.
Due to the success of their companies, they are exposed to more marketing and sales messages than the average person.
They tend to ignore “hypey” promises and quick to buy solutions.
To reach these customers the marketing message needs to be more in depth and sophisticated.
This forces companies to spend more time and resources on perfecting the marketing message to win these clients.
It’s not the ideal situation.
The problem is they hold the purse strings and massive, long-term profits for companies.
Now, we’ll show you have to reach them.
Constructing the High-Value Buying Process
This is where direct response marketers throw a temper tantrum.
It’s not as simple as running someone to a sales letter to convert them into clients. That doesn’t create a consistent flow of clients that most businesses are looking for.
To roll out the high customer value buying process, you need to come up with a BUYER SCORE.
A BUYER SCORE are the elements that come into play as the purchase decisions are made.
There are 4 elements to the BUYERS SCORE.
- Problem Awareness
- Level Of Sophistication
- Relationship Drive Factor
- Size/Normality Of Purchase
There is an “art” factor to creating customized experiences, though we’ve developed a standard system that creates a SALE score for each market we help clients enter.
The single biggest question to ask in building a high-value process is “What does the customer already know?”
What your prospect already knows is the biggest determining factor for selecting the type of assets required to turn a prospect into a customer.
Problem awareness is a measure of how clear the prospect is about your company (or solutions to the problem they are facing).
If we take the score on a 1-10 scale – 10 being the prospect clearly understands the key experience of your brand as well as the problem and 1 being they are generally unaware of your brand or problem.
Example: Someone looking for a new sports car would be high on the problem awareness scale. They know they are in the market for a car.
Now if this prospect has had repeated experiences with the key experience of BMW, they are going to have high brand awareness as well.
The customer already knows they want a sports car. Since there is high brand awareness for BMW at this point, it makes the sale much easier for BMW (especially if BMW delivers on their key experience which we’ll talk about later).
The degree of difficulty on the awareness scale increases with less brand/problem awareness. Low brand/problem awareness creates a larger gap for a company to bridge with their prospects.
These two are combined together because they work in tandem.
Level of Sophistication
As brand/problem awareness has to do with the problem of your brand, level of sophistication has everything to do with other brands or competing solutions.
There are two questions to ask:
- How many competing offers are out there?
- What are the other solutions your prospect sees?
The scale for the score is 1 – extremely high competition in your market with multiple competing solutions. 10 – There are no other competing offers and your prospects sees your company as the only solution.
The key with whatever offer you come up with is to move up your score.
Here’s an example:
Say you are in the highly competitive freight industry. You have little differentiation in your marketplace and your customer sees everyone as similar.
At this point you are a 1 on the scale.
The solution to move up the scale would be to develop a superior offer into the marketplace.
Because of high competing offers you’re not going to be able to get to a 10. The goal is to get to a 3-4 so you can standout from your competition.
A big mistake people make in people analyzing their level of sophistication is they underestimate how many competing offers there are.
If someone is in the coaching industry, there is not only competing offers from other coaches, you are also in competition with SaaS companies or other ways people are solving the problem.
Careful analysis makes a huge difference in long term success.
Relationship Drive Factor
If you’ve ever heard of someone being “old school” or joining the “good-ol-boys” club you’ve experienced the relationship drive factor.
This is one of the key factors to any company selling internationally or into markets that are slow moving.
This factor holds more weight than the other two because quite simply, relationships are king.
In some cultures (Middle East) you’re probably not going to be able to do business without a very strong multi-year relationships (this is the EXTREME example).
Companies with strong relationships will consistently dominate, even against better competing offers. The human factor of relationships is just too important.
Most international business and slow moving markets are primarily relationship based.
This absolutely needs to be factored into your sales process.
This might be the number 1 mistake I see in B2B marketing.
For some companies (Amazon is a great example) the relationship is defined by a definitive experience when interacting with the company.
A definitive experience is the underlying experience people get every time they deal with your brand. Amazon’s definitive experience is that you the customer are king. You know that every step of the way you will be treated as such.
That experience is clear when dealing with support or ease of buying online.
The size of purchase is a key variable for marketing materials as well.
The amount of marketing materials required is highly dependent on the size of the purchase and how normal the purchase is.
A $7 online E-book can be sold easily in a 5-10 minute video. It’s not a “normal” purchase though the ticket amount is low enough it doesn’t require much brand exposure or content.
In contrast, a six figure consulting proposal requires a solid combination of all the above BUYERS SCORE factors.
Now, if these six figure proposals are normal for the prospect, it becomes a much easier sale because there is less friction.
Knowing your BUYERS SCORE makes it much easier to acquire client’s profitability. It’s a simple process that allows you to position yourself in the marketplace and compel your prospects to buy.
It works well for amateurs just starting out as well as multi-million dollar businesses in competitive markets.
However, if this solution looks overwhelming to you or you don’t have time to figure out all of the different Buyers SCORE, then you should have our agency simplify the process for you.
We specialize in simplifying and automating sales processes.
We can help you master the acquisition process in a variety of different ways depending on your needs.
If this is for you, then find out more on our SERVICES page or download our Case Studies. For everyone else, please comment below (I read and respond to every comment). Also, if you found this content useful, sharing it on Facebook, Linkedin, or Twitter is really helpful to us.
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