Building Relationships Takes Time

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I recently talked to a small business owner who has marketed her products using traditional marketing methods (brochures, ads, brochure type website) for 6 months. Her results have been way below expectations. She has gained 2 new customers through word-of-mouth marketing. One of her ideas she shared with me was to discontinue her current marketing efforts and concentrate on word-of-mouth marketing. She is a work-at-home entrepreneur with limited resources and a very small marketing budget. Her plans include starting a blog.

In my efforts to encourage her and create a marketing plan for her company, I re-read some chapters of Mitch Meyerson’s excellent book “Mastering Online Marketing”. Information on page 119 caught my eye:

Did you know that

37 % of interested prospects take 0-3 months to become customers

28% of interested prospects take 3-6 months to become customers

18% of interested prospects take 6-12 months to become customers

And did you know that

48% sales people give up after the first contact

25% more give up after the second contact

12% stop trying after the third contact

5% cease after the fourth contact

90% of leads never get followed up more than 4 times

Business owners really have to be committed to devoting the time and patience necessary to the conversion process.

 

 

One thought on “Building Relationships Takes Time

  1. Adrianne Machina

    Great post! Three months ago I attended a tradeshow, and I dropped my business card or filled out a form in AT LEAST 50 booths. I only received followup from 2 companies. One I was really, really interested in — but I was on another call at the time. They never called back.

    Hmmmmm. Wonder why these companies that spent big money on this tradeshow aren’t getting ROI on their marketing?!

    Adrianne Machina
    http://www.tornadomktg.com

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