Think for a moment about what happens when you lose a sale to a competitor. You lose the immediate revenue and the future revenue from that client. It’s not ideal, but it happens. You learn from the process; you improve, you move on.
But what about all the sales you never knew about? All the “deals” you were never invited to? All the buyers who never considered your solution at all — because to them, you’re invisible?
Being invisible is bad news.
Because once you are invisible, you lose out on the law of increasing returns — which is, those who have, get more. You aren’t in the buyer’s peer circle, which means you lose out on peer-to-peer referrals and all the sales from those referrals. You are the kid who wasn’t picked to play on either team. You’re the one left standing alone in the parking lot.
The most dangerous part of all this is that you do not know it’s happening. It’s one of those “I don’t know what I don’t know” problems.
Here’s what we mean —
Today, 72% of B2B buyers or influencers are under the age of 45
Now, it’s not age itself that’s the issue. It’s that this age group of people grew up with technology and google and iPhones — they know where and how to find information.
They also grew up with Enron and the likes of “too big to fail,” which led to massive mistrust of “big” and any marketing rhetoric — so they invented technology like ad-blockers. And, just like that, by 2016, over $41.1 billion in advertising world-wide had been blocked.
Where does this show up most for B2B companies?
In the buyer’s process.
70% of buyers fully define their needs on their own before engaging with any company, and 44% identify specific solutions before reaching out to a seller.
A full 60% of the buying process is complete before the selected sellers even know there’s a sale to be had.
This significantly impacts your chances of making a sale. Because if you aren’t saying the right things, to the right people, in the right places, you won’t be invited to a dance you didn’t even know was happening!
This is where a marketing seizure is likely to occur, and you’ll find yourself solving for MORE…
We need to be on LinkedIn!
We need to be on Twitter!
We need to write articles!
We need Social Media Advertising!
We need Google Advertising!
We need to update our website!
We need a newsletter!
We need a blog!
We need to become thought leaders!
We need to go to trade shows!
We need to socialize more with our prospects!
We need to implement referral programs!
We need to re-train our sales and marketing staff!
We need! We need! We need! We need!
60 to 70 percent of all B2B content goes unused by your buyers — that’s a lot of dollars on wasted content.
But, once you see the solution, you’ll see how easy is to fix the problem.
Now maybe the customer acquisition supply chain looks like this.
But you can increase the ROI by focusing on three areas.
The buyers who are aware but did not buy,
The status quo of the industry – do what’s always been done, and
The buyers who are unaware of you
It may seem counter-intuitive, but it works.
And when something works, there’s a way in which it works.
There’s a way in which buyers are unaware of you.
There’s a way in which buyers don’t buy from you.
There’s a way in which the industry limits buyers.
When you figure this out and turn it around, your customer acquisition supply chain looks like this
A proven, repeatable process for increasing revenue, while at the same time, reducing operating expenses, all within 100 days.
Reduce or eliminate unneeded sources
Add more effective sources
Offer buyers a deal they cannot refuse
Become visible to ideal buyers
Earn more business from all buyers
Capitalize on the Law of Increasing Returns
Real opportunities exist to change your thinking and behaviors to match those of your buyers.
The only risk is to miss this opportunity because you don’t see it; you don’t see or believe in the changing market forces.
Start where you have the most leverage.
Start with your buyers and the industry.
It takes time and a specific level of expertise to figure it all out, but the investment will return to you over and over and over again. The timing could not be better. Buyers are the most receptive they’ve been, maybe ever. And, your industry is looking very different today.