If you're considering acquiring data for your business, chances are you have a plan in mind for leveraging it to boost sales. Traditionally, such plans might involve Email Marketing, Telesales, or Direct Mail campaigns, all of which can deliver valuable results. However, the most common pitfall for many small businesses lies in not seeing the bigger picture. While their individual campaigns may be effective in capturing prospects ready to buy at that very moment, they often miss out on those who are potential customers in the near future.
The issue with focusing solely on individual projects is that it fails to connect the dots in the data you collect. Consequently, it overlooks the buying behaviours exhibited by prospects in the early stages of the purchasing journey. This is the critical research phase, where approximately 80% of their buying decisions are made. Think about the last significant purchase you made. Chances are, you conducted thorough research online before setting foot in a physical store or engaging with a salesperson. The reason behind this behaviour is the desire to be well-informed and make the right decision at the most opportune time. Even when you've done all your research and visited a store, you probably avoided talking to a salesperson until you were almost ready to buy.
Now, let's apply this scenario to your upcoming marketing campaign. While your ultimate measure of success will likely be based on the number of sales generated, the initial key performance indicators (KPIs) may revolve around Email opens, click-through rates, and the number of appointments or inquiries. However, these metrics primarily account for individuals nearing the end of the buying cycle. This myopic focus is a drawback of assessing your data at a project level since it neglects contacts in the early stages of their buying journey.
For instance, imagine you execute an email marketing campaign, and one of your contacts, let's call him Dave, opens several emails but doesn't take further action. Many companies would disregard Dave and shift their attention to those who clicked on specific links, possibly passing this list to a telemarketing agency for further qualification. However, considering the bigger picture, these are the low-hanging fruits, the individuals ready to buy now, possibly reaching out to your competitors as well.
Let's revisit Dave while keeping the broader perspective in mind. It turns out that Dave is a highly promising prospect. Although he only opened a few emails, he also Googled your company, explored your website, returned weeks later via a social media post to read a case study, and even called your reception with an innocuous question. Dave has done his homework and is close to making a buying decision. All you need to do is recognize him and nurture the relationship, ensuring he comprehends your offerings and keeps your brand in mind when the decision time arrives.
So, why don't more small businesses seize these opportunities? Typically, they find it daunting to consolidate their data, as it's often scattered across various projects, such as email marketing programs and spreadsheets. This fragmentation prevents them from seeing the full potential of their data.
The solution is straightforward: small businesses need to take control of their data. Implementing a simple Customer Relationship Management (CRM) system can help them manage their data and marketing in one unified platform. A well-chosen CRM can seamlessly handle data management, lead tracking, note-taking, reminders, and automation, flagging up contacts showing buying behaviors. In essence, it allows you to maintain a holistic view, always knowing who to contact, when, and, most importantly, why.
One such user-friendly CRM designed specifically for small businesses is Popcorn. It offers essential marketing tools to manage, nurture, and accelerate sales conversion. To learn more, watch a brief 90-second video here: [Insert Link].
In the pursuit of maximizing sales potential, don't overlook the goldmine of prospects hidden within your data. By adopting the right tools and a broader perspective, you can transform your approach and drive success in your business endeavors.
Simon Washbrook
Founder | popcorn CRM
www.popcorncrm.co.uk