If the most valuable thing your business can have is guaranteed regular customers, then the second most valuable asset is a long list of potential customers who you can nurture.
Most advertisers make the fundamental mistake of spending most of their time and money trying to drive people to their website and convincing them to buy “now”.
But “now” is not the same for everybody. It is very important to appreciate that, while many people might be interested in your offering, they might not be ready to act yet. So why ignore them and waste your advertising only speaking to those who are ready today?
The crucial thing to appreciate is that only a small percentage of your prospects are going to do something “now” compared to the number of people who are going to do something later.
As a rule of thumb it is safe to assume that, of those leads who will buy something, only around 15% of them are likely to do something in the first 90 days.
Which also means that around 85% of those who will buy are going to do it later. Maybe 6 months, 12 months or 2 years.
So the key is understanding that “not now” doesn’t mean never, it just means, “maybe later”.
And that’s OK, because the real value is in the long game – as long as they’re on your database.
The more people you have on that list, who pay attention to you and read your emails and communications, the better your odds are that, at some point, it’s going to be the right time for some of them.
During the last two years I have seen many of my own clients manage to survive and thrive because they had a healthy list of prospects who they were able to talk to. In some cases they changed their offering to suit the current situation, in others they just kept nurturing through to the sale. The key was that they already had established a level of relationship with their audience.
That’s why, instead of ignoring those who don’t buy straight away, I always tell my clients that what they should be doing is nurturing, adding value, building relationships and inviting people to take the next step when they are ready.