If you fully comprehend the potential of the Best Buyer Concept, you will see a significant increase in your sales over the next twelve months. Although simple, the principle is very effective: since there is always a lower number of ideal buyers as compared to all of the available customers, marketing to ideal buyers is less expensive than marketing to all of the possible buyers, resulting in greater benefits.
This method was utilized by a magazine to quadruple its revenues in 15 months flat. What they did was as follows:
They created a database of 2200 sponsors and distributed promotional materials to them on a monthly basis. Following their discovery of this technique, they conducted an investigation and discovered that 167 of the 2200 advertisers purchased 95 percent of the advertising space in their competitor’s magazine.
This notion is referred to as “The Dream 100 Sell,” and it refers to the idea of going after your “Dream” prospects with ferocity in order to close the deal. This magazine sent a letter to the 167 (top purchasers) every two weeks and contacted them four times each month to keep in touch.
Due to the fact that they were the largest consumers, the first four months of vigorous marketing and selling yielded little tangible benefit. In the magazine’s fifth month of publication, just ONE of these Dream clients purchased advertising space.
When it came to the magazine’s sixth month, it received a massive influx of advertising from 28 of the 167 top advertisers in the nation at once.
In addition, since they are the largest advertisers, they do not accept quarter pages or fractional advertisements; instead, they accept full pages or full color spreads. The combined efforts of these 28 advertisements were sufficient to more than treble sales over the previous year. In a little more than a year, the magazine moved from being ranked 15th in the business to being ranked first.
“Lesson learned: market to your greatest customers,” says the author.
Immediately after this, you’re undoubtedly wondering, “Who are my best buyers?” It’s likely that if you sell to the business-to-consumer sector, your greatest customers reside in the most desirable communities. It is important to continually target people who reside in the greatest areas whether you are a dentist, accountant, chiropractor, real estate broker, financial adviser, restaurant owner, or even a multi-level marketing (MLM) expert.
They are the richest purchasers, with the most money and the broadest area of influence in the marketplace. Within a year, if you consistently make offers to the extremely rich, you will have established a solid reputation in their circles of friends and colleagues.
When you sell to the business-to-business market, it’s typically rather obvious that your greatest purchasers are the largest corporations in your target market. So, what are you doing, every other week, no matter what, to make sure that these firms are aware of your presence on the market?
There is no one you cannot reach as long as you advertise to them on a consistent basis, even after they have indicated that they are not interested. The people around you will not only begin to admire your fortitude, but they will also begin to feel compelled to help you.
This may not happen overnight, but when you refuse to give up, even the most hard-bitten and cynical CEO or prospect will grow to admire your determination and perseverance. Sales of the periodical I mentioned previously increased by more than double over the next two years in a row. They constantly targeted the best consumers and did it in a far more aggressive manner than they did with the rest of the purchasers.
This method was used by a firm that sells to manufacturers in order to target the top 100 manufacturers in the nation. During the first three months, no one answered any of the calls or phone calls were returned.
However, after three months, executives began to express concern: “I simply have to get together with you. I’ve never had somebody contact me so many times after I’d said no before. It’s a first for me.” Within six months, they had been able to see 54 percent of the people they had sought to visit.
Never giving up is the key to success.
All you have to do is keep going after those firms over and over again. Alternatively, if you sell to customers, make a commitment to delivering a promotional piece to those rich communities on a monthly basis. Eventually, all of the rich individuals in your neighborhood will be aware of your identity.
The issue now is: Who are your DREAM prospects, and how devoted are you to converting them into paying customers?