While we talk about “a sales cycle”, but the reality is that a sales person could in fact have multiple cycles unfolding at the same time, all different in length. Based on your offering there could be different elements that come into play, different product lines, software vs. professional services, as an example. On the other hand, the zone (active, passive or status quo), the buyer has a direct influence on the length of the sales cycle as well; those actively engaged in the market will make for short cycles, those passively looking, will take longer. The largest group, the status quo, will be extended cycles, and thereby present a number of challenges.
One of the biggest is the fact that because it will be a much longer “client acquisition cycle”, it will require greater creativity on the part of the sales person and their sales organization. Because of the extended time, and the fact that the buyers are in “who cares” mode, it will require more touch points as a result. This not only requires the discipline to actually carry out these touch points, but also require greater creativity in the nature of those touch points.
Consider this set of stats:
- Only 10% Of Sales People Make More Than Three Contacts
- 2% Of Sales Are Made On the First Contact
- 3% Of Sales Are Made On the Second Contact
- 5% Of Sales Are Made On the Third Contact
- 10% Of Sales Are Made On the Fourth Contact
- 80% Of Sales Are Made On the Fifth to Twelfth Contact
This means that with buyer in the status quo zone, know that if they don’t respond to the initial two or three approaches, the whole thing will just go away, confirmed by the stats above. And for someone in the status quo, ignoring things come naturally. And let’s face it is easy to ignore some of the irrelevant messages they receive, often the message is so general the only thing unique about the message is the individuals’ first name, due to the “merge” function in their automated marketing tool they use.
This is where a contact strategy becomes important in a number of ways. First, just having the contact diarized ensures you follow through the six or seventh time in a long client acquisition cycle. But to win, the number of touches is just the start, with buyers in the status quo content of the message rules. While I am not suggesting that you need to create a unique set of content for each target, I am suggesting that you make sure that you COMMUNICATE with the buyer, not just touch for the sake of touch and the need to hit a stat.
You need to create and tell a story through your communication, a story that will achieve two basic things. Most of all engage the buyer based on the content, its relevance to the person or organization you are targeting. Second, demonstrate you understanding and ability to help the buyer in a specific way, again achieved through the story you weave. Yes there will be calls to action, but hey will be tied to elements of the communication, not just repeating a singular message “call me”. If they see value in the content, they will see value in meeting with you, it may take a bit longer than with active or passive buyers, but it is up to you to develop and execute a contact strategy that will prepare the buyer to think of you as the one they would like to change with.
Next Step
- Understand how long you sales cycle is with Passive and Active Buyers
- Calculate you “client acquisition cycle” with status quo buyers
- Map out a contact strategy, including touch point, medium, nature of messages, etc.
