Power Of The “Larger Market” Formula
Here's the EXACT formula for getting your clients from "Just looking" to "I want to buy right now!"
In any given market, 3% of people are in what I call "buying mode".
The problem that most businesses face is that if you split up that 3% of customers between you and your competitors, you're never going to make much money.
The key is to find a way to capture the other 97%...
The key is to use something called the "Larger Market" formula, which breaks down the entire audience of buyers into 4 main categories:
1) 3% of people in "buying mode"
2) 17% "info-gathering" mode
3) 30% are problem aware
4) 50% not problem aware
When a prospect isn't informed on a subject, they are in a state of uncertainty, and people don't buy in this state. So the key here is to teach them what they need to know to make a smart buying decision.
One of the key ways to do this is to offer insights or education!
Some of the best ways to educate your market are in the forms of...
-Free Reports
-Videos
-Webinars
-Books
There are many more ways to do this, but these are just some of the most common.
If you can consistently move people up the pyramid, you can shift a lot of the 97% of prospects out there into becoming your client or customer right away.
The best way to do this is by using a sales funnel.
When done right, you'll easily see your sales double.
If you would like some more information on how to set up a sales funnel or if you have any questions regarding marketing your business in general, feel free to send me a quick message here and I will get back to you as soon as I can! :)
