All of the marketing in the world won’t make a difference if your prospects aren’t buying from you.
Every company needs a good marketing strategy, but regardless of whether your company invests in email, direct mail, digital or any other marketing strategy, if your prospects aren’t buying from you, then it’s cause for concern. No company wants to throw their money away on a marketing strategy that doesn’t work, but you’d be surprised at how big of a difference even the smallest change can make in your marketing strategy. However, in order to make meaningful changes that will actually increase conversations, you first need to understand why your prospects aren’t buying from you in the first place. Here are the most common reasons:
#1. There’s no reason to fix something that isn’t broken.
Chances are, your company has a few competitors out there, and if you’re trying to convince your prospects to make the switch to your products or services from their current provider’s, it can be tricky. Change is difficult for many people, and believe it or not, there’s actually a scientific reason for it! Our brains are wired to associate accepting a new idea with a high level of risk. However, just because we are wired to be wary of change, it doesn’t mean that consumers will never change! One of the best ways to actually encourage your customers to change their buying habits is to point out issues with the status quo and show them how your solution will fix them. No one wants to spend time looking for a fix when nothing is broken in the first place, so it’s necessary to point out the many ways that the status quo is broken before they will accept change.
#2. There’s no urgency to act right now.
Did you know that the longer it takes for a consumer to make a buying decision, the less likely it will be for the sale to go through? That’s right, even consumers who are committed to making a change or buying a product will waver on that commitment if they don’t act on it right away. This is why it’s always a smart idea to create a little urgency in your mailers and other marketing materials. If you can get your prospects to act right now, there’s a far greater chance that they actually will!
#3. There’s not a need to buy what you’re selling.
Unless you are offering a product or service that everyone needs, there’s a good chance that not every single person will need to buy what you are selling. And, if there’s no need, your prospects won’t want to spend their money. One of the best ways to solve this problem is to ensure that you are targeting the right audience. We’ve talked about fine tuning your mailing list quite a bit in many of our previous blogs, but it’s a lesson that bears repeating. There’s no point in putting the time and money into a direct mail campaign targeting people who don’t need what you’re selling. Once you’ve narrowed down your mailing list to the prospects who actually need what you’re offering, make it a point to establish the need in your mailer. For example, instead of just talking about the benefits of buying a product or service, talk about the pain points that the product or service will be able to resolve.
#4. There’s no room in their budget for your services or products.
Although the economy is robust and unemployment is down, the vast majority of Americans still don’t have a lot of disposable income. And, a lot of your prospects may want to buy a product or use a service you offer, but they just don’t have the money. However, the more likely scenario is that your prospects are spending the money they could be using on your goods or services elsewhere. But, luckily, if this is the case, you simply have to give them a good enough reason to choose what you have to offer instead of what they’re currently spending their money on. To do this, refer to our first point about encouraging your prospects to change. You’ll need to point out all of the areas that their current solution is failing them, and then point out all of the ways that your solution is superior.
In order to make your mailers more effective for selling more goods and services, you first have to understand why your prospects aren’t buying from you in the first place. Be sure to stay tuned for our next blog to learn more about the common reasons why prospects don’t buy from companies like yours.
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