Let’s continue our discussion of Who is your customer and giving them what THEY want.
Here is their dreaded situation: their lead generation advertising / mailings produced a good number of leads from a good source at an affordable cost but none converted to buyers. Incredibly, both of these marketers keep wanting to talk about generating more leads or tweaking the lead generation message.
One thinks he can multiply zeroes by more mailings with the same unsuccessful message to his leads. This is called: working on the wrong problem. And it goes on a lot.
In this case, the people liked what was said to them in lead generation. They “bought” the Promise. Then, when the sales letter arrived, one or more of these things occurred:
- They didn’t like the means offered them to get the Promise they want
- They were not convinced the price was a bargain
- They didn’t believe and trust the selle.
- They finished reading/listening unconvinced of their own ability to use the means offered to get the Promise
- They didn’t feel a sense of urgency to grab the means immediately
There are other possibilities, but these are the biggies.
A related situation to think about – constantly – is whether you are working on big opportunities or small opportunities. You have to figure out what the value of each opportunity you might work on could be. Getting a refund rate from 4% to 3% has a financial value.
Making an upsell on an order form work with at least 10% of the buyers has a financial value. Both are probably doable. Which should be tackled first? Which has more value?
When something like the above described Dreaded Situation occurs, a lot of marketers are way too quick to abandon the project.
I caution against persistence morphing into stupidity. But you do have to consider the value of figuring out a marketing puzzle.
If doing so will let you operate in a competitive vacuum and dominate a niche, for example, vs. throwing up your hands and taking a path of less resistance, following many competitors into a cluttered market, you have to take into consideration the value of the former vs. the latter.
Most people do not factor ‘value’ into a lot of their decisions.