How many people in the market who knows about your company and actually uses your products or services? How can you effectively convert your leads into the various stage of the sales process?
As you may know, there are many resources and gurus out there explaining what sales funnel planning is all about and its benefits. Even so, still, there are many people like you who have no clue on how to measure or make it work.
In order to make it simpler on planning your sales process and to prepare your content or marketing collateral, I have this simple graph to help.
The vertical axis maps the number of leads in the market according to their knowledge (“know”) of your business / product. And the horizontal axis maps the number of people based on their usage level or usage frequency of your offering.
For example, “A” within the graph indicates a group of individuals who have not known or heard about your brand at all. What this means is that the people in that group have not known you exist and will not use your product or services.
“B” indicates a group who knows or has heard about your company but has never used your offering before.
“C” indicates another group that has used your product but have no idea that the product or service actually comes from you. Usually, this is because your offers do not come with a strong brand identity (e.g. OEM), unique selling point or emotional selling point. As such, people who fall under this category do not have brand-loyalty and tend to sway their choices easily from one company to another.
“D” indicates a group that not only knows about your product or service but also used it, possibly often. This is definitely the region every company would strive to keep their clients.
Apple does this very well at keeping their customers in “D” region. They are able to dominate the majority of the market share in the tablet and smart-phone markets with their software and hardware ecosystem.
It is also worth noting that Samsung, another smart phone player in the market, is aggressively dominating Apple’s market share. Samsung is gaining its momentum in moving people from Apple’s “D” region to “C” region. This is a typical example of losing clients to competitors which all marketers have to keep an eye on.
On another hand, a new start-up business normally has everyone categorized in the A region. Their aim, in terms of their marketing process, is to move people from the A region to the B region, and eventually moving them from the “B” region to the “C” region.
Meaning to say…
With that said, if a company develops a unique selling proposition and brand identity, it’ll make sure that client in the “C” region moves up to the “D” region and make sure that these clients remain loyal to the brand.
The main question here is how to move people from “A” to “B” and more importantly, from “B” to “D” effectively.
Now, get started by doing some market research, and put numbers into the four region. Start thinking about the profile, the needs and the problems of the people in each region and how your product / service could help, and plan on how to convert and move people into the “C” region.
See also: Personalized direct marketing works