The formula that converts prospects into customers: Don't waste your time anymore!
March 14, 2018
Acquiring customers has never been easy. This is particularly true nowadays, that we see strategies of all kinds. From advertising to content marketing via social media and SEO, those who are interested in it, give a try according to their knowledge.
We look for prospects everywhere and we follow them closely in everything they do. As a result, they have more and more power in terms of the choice of products that are presented to them almost all the time. They have become smart by learning and comparing before deciding to buy these products.
Converting prospects into customers takes time. Being patient is the best skill to have.
This post is about a formula I have thought of. It summarizes my knowledge on this topic. The formula you are about to discover, helps to make the context suitable and the process easier when it comes to converting prospects into customers.
How is the formula made of? What are the elements?
I started by taking into account the real-life sentences we hear from customers to make the elements of the formula. These sentences are related to the definition that I give to the word "CLIENT" that is pronounced in English "CUSTOMER".
Definition: A customer is the one that satisfies a useful need by giving his money in exchange for a product. He communicates and looks for information on channels that offer a seamless experience (Omni-channel). He wishes that people react on time to his actions or purchase intents.
In fact, it is my definition of a MODERN CUSTOMER. The words in red represent each letter of the word "customer". You probably already guessed it!
Through this definition we have an idea of what a customer is, what he does and what he likes. This will have to be taken into account in order to succeed in converting prospects into customers.
There is one single and unique reason to it which is: LEARNING TO KNOW YOUR CUSTOMERS.
Today's customers were yesterday's prospects.
The formula you will discover shows in detail the importance of the 8 words you just saw. Keep reading to learn more about this unforgettable formula.
“This product is too cheap; it is not of good quality.”
“This product is good but too complicated to use; couldn't the manufacturer make it simpler?”
These are two real-life examples of the sentences often heard from those who have already bought (customers) or intend to buy (prospects) one or more products. You will find solutions for these types of sentences in the formula that converts prospects into customers.
Here is the formula that converts prospects into customers
(RP + RP) – WW = C
(Right Prospect + Right Product) – Wrong Words = Customer
This formula shows that having a good product is good, but knowing and being able to sell it is better. It will always take extra effort to sell a product even if it is one of the best on the market.
The following brands: Apple, Samsung, Renault make better products. But this does not prevent them from having a budget and making efforts to promote their products through advertising. You can read this to find out why these brands are betting on advertising.
Remember that today's customers were yesterday's prospects. They do research and compare before buying. They want to be convinced that the so-called "good or best product" is really the solution to their problem.
“It's a luxury product; it's not for me because I can't afford it.”
When you hear such a sentence from a prospect, don't waste your time in front of him mainly if your product is expensive. You did not choose the right prospect because the price criterion is very important to him.
Never forget the different purchasing decision criteria. The criteria are not equal. Here are some of them: Price, quality, duration, design, simplicity, experience and so on.
If you face challenges finding good prospects, the following will help you a lot.
How to recognize the RIGHT prospect?
“How is your product so different from many other products that can satisfy the same need?”
By saying this sentence, the prospect tells you that he wants to know a little more about your offer. He just gave you two precious things that no one would give away so easily. They are: TIME and the willingness to LISTEN.
By asking this question, your prospect indirectly indicates that he has time to listen to you.
Time is money. It is in your interest to value the time a prospect spends with you by accurately and correctly answering the question he is asking.
You recognize a good prospect not only by what he says but also by what he does. Here are some of his actions:
Some actions are difficult to recognize. It is especially if you are dealing with demanding prospects.
The best solution to recognize complex actions of a prospect is the ANALYSIS. Learn to analyze quickly by observing what he does and listening carefully to what he says.
Use this recommended tool to learn how to analyze well.
How to make a product RIGHT?
Once your prospect is well identified, you should introduce them a product that is the best solution to their problem, if not the perfect solution. During this second step, your product must stand out from the competition in terms of design, usefulness and experience.
“This product is beautiful but isn't it done at the cost of experience. I am wondering if it will last with me. ”
Read this post to see the impact of having a good experience.
If you hear a prospect telling you the above sentence, it's because he has doubts that your product is really a good product. You will have to use the third element of the "the formula that converts prospects into customers” to prove him that he has nothing to worry about.
Do not sacrifice any of these 3 criteria at the cost of another: design, usefulness and experience.
The following helps to make a product RIGHT:
How to avoid WRONG words?
Know that this last step is the most difficult. It is a matter of being consistent when you talk about your product and especially about the solutions that the prospects who are looking for.
In order to be able to communicate effectively with prospects, you have to make sure that they have the same understanding of what you say and vice versa. You absolutely need to be on the same wavelength. Otherwise, some words that are not understood may be considered as bad words.
“This man seems to know well his product. He uses technical words to describe it but I understand nothing. Is this really the product I need?”
When talking about your product, the best approach is to start from the prospect's problems.
Understanding is beneficial to you and your prospects. They are satisfied and come back to you when they understand your message and appreciate your product. As for you, you will succeed in converting them easily into customers and get their money. You will have more to gain if you give preference to omni-chanel and especially if you remain attentive and react quickly when they need you.
Here's how to avoid WRONG words during your communication:
In conclusion, you just got the key. Just put it in the lock and open your door. In other words, you have just read, in more detail, all the elements that make up this new formula. Simply apply it to convert your prospects into customers.
You just have to do this: Talk about your RIGHT PRODUCT to a RIGHT PROSPECT by avoiding the WRONG WORDS for him to become your CUSTOMER.
Your turn: How do you convert your prospects into customers? Are you using another formula? What do you think of this formula (RP + RP) - WW = C that you have just discovered?