make purchasing as easy as possible
I receive emails weekly, if not more often, from shysters offering lead generation services. I also talk to clients who have very high enquiry rates, thanks to their high advertising budgets, but a low proportion of qualified enquiries. This is the fifth of 10 THOUGHTS addressing strategies for maximising qualified enquiries and genuine prospects.
I would define a qualified enquiry or genuine prospect as one where there is a better than 50% likelihood of conversion. I recognise that there is usually a sales-funnel and acknowledge the importance of minimising time wasted on unqualified enquiries in that funnel.
Research reported in the Harvard Business Review found that suppliers that make buying easy are 62% more likely to win a high-quality sale. This was found to be particularly relevant to high margin goods and services.
This is just one of many studies suggesting that making the purchase process as simple and as easy as possible increases the level of qualified enquiry and, ultimately, increases sales and profitability.
Despite this, there are so many businesses that:
- Refuse to take a particular brand of credit card or require a minimum purchase
- Demand that an enquirer open an account or join before making a purchase
- Offer excessively long delivery times on online or offline purchases
- Fail to keep adequate stock on hand
- Require an enquirer to come in, rather than offering to visit the prospect
- Provide an online ordering process that is complex and involved
These and similar issues prevent the exchange of millions of dollars in transactions for a wide range of businesses every day. The potential enquirer can almost be heard saying – ‘it is just too hard’.
Making it as easy as humanly possible to make a purchase is a powerful means of facilitating qualified enquiries. No one wants to put any more effort into a purchase than they need to.
Unfortunately, many businesses in Australia, look at purchases from their own perspective rather than the customer’s perspective. They develop purchase processes that suit their needs and reduce their costs while making it unnecessarily difficult for the consumer to lodge an enquiry.
This is such an issue that there is real potential in many sectors for a business to leverage ‘ease of purchase’ as its competitive advantage. There is potential for organisations to increase qualified enquiry by continually reviewing their process and requirements, making it easier to lodge an enquiry, and allowing the customer to secure what they want as easily as possible.
Eliminate every barrier to lodging an enquiry and making a purchase. Get close enough to your customers to understand where they have difficulties and eliminate them.
Continually review all of your processes and requirements and make purchasing as easy as possible– focusing on customer needs rather than business needs.
Marketing Results, Salesforce Blog, Iron Paper, Lead Fuze, Forbes, Sales Fusion, Impact Communications, Demand Gen Report, Gong Labs, Adobe, Aberdeen Group and HBR
MORE THOUGHTS – www.djohncarlsonesq.com