Did you know that only around 3% of your potential target market is ready to buy at any given time?
The vast majority are either not even aware they have a problem you can solve, or haven’t started looking at solutions … yet.
Yet most marketing and advertising is focused on reaching the tiny segment who are ready to make a purchase decision.
This results in a very crowded space, with many businesses competing for the attention of this “buy now” crowd.
And where there’s more competition, it’s harder to stand out, leading to increased costs to acquire a customer, and lower profit margins.
Not only will the cost to reach them be higher, but because these people are already in “shopping” mode, you’ll be late to the party and will now be compared to everyone else they’re evaluating, leaving you to compete on things like price and features, and lowering profits even further.
So what’s the alternative?
Forget the tiny 3% and instead turn your attention to the 37% of the market who are either in “research mode” or who are aware they have a problem but haven’t yet started searching.
The result will be more efficient marketing (i.e. acquiring more leads and customers at a lower cost per acquisition), AND by getting these people earlier in the buying cycle, you build trust with them, so that when they eventually move into that 3% segment, they’ll naturally choose you, and usually won’t even consider alternatives, regardless of price or “features”.
In this 5-minute video I show you how to harness the “Larger Market Formula” so that you’ll no longer be competing with the “dumb money” who are swimming against the current trying to attract the 3%…
If you enjoyed this article and video, check out our other free content marketing templates and resources here. If you’d like help implementing any of these strategies in your own business, apply for a free strategy session here.
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