how to increase likelihood of a purchase by 78%

Summary

why do you hate acquiring customers. you don’t hate having them. you hate getting them. every entrepreneur I’ve worked with feels this. you got into the business because you love your craft, not because you wanted to run ads and chase leads. that’s why this part is so often skipped.

1. better human business owners want the result for the customer. they don’t want the unsexy slimy feeling of sales and marketing. there are people who genuinely love marketing and selling. most of us aren’t them. and yet the business doesn’t grow without it.

2. we’ve been looking at data for the past few weeks across our funnel. lots of customers, lots of leads, lots of touchpoints. the question we asked. what single variable changes the conversion rate the most. the answer was clear. personalized outreach.

3. data point one. if we proactively reached out with a personal touch to someone who just dropped their name and email at the top of the funnel, they were 56% more likely to take the next step in the sales process. 56% is good but also close to coin flip. so we kept digging.

4. data point two, the one I cared about. of those 56% who took the next step, 78% of them became customers. not the usual 20 to 30%. seventy eight percent. one variable changed the entire pipeline.

5. and the kicker. personalized outreach isn’t a sales psychology trick. it’s not a copywriting Jedi move. it’s just being a useful human. we ask what they need help with. if we’re not the fit, we say so and point them elsewhere. if we are, we send the resources, the right podcast episodes, the ebook. people helping people. hard to scale. doesn’t matter, because the number of customers you actually need is way smaller than you think. start using this on every lead this month. and if it’s too much work, try harder.

Transcript

why entrepreneurs hate acquiring customers

The most impactful business is the business that genuinely improves another human, a better human business. And to grow a business like this, you have to continually improve yourself. This podcast is a documentation of that thesis, scaling businesses and also personal growth. My goal is for you to shortcut this journey.

So if you’re ready to try hard, subscribe. If you like what you’re hearing, please share and enjoy. Hey, Jerry Moon here, and welcome to the Better Human Business podcast. So my question for you today, if you’re an entrepreneur, you’re selling something, a system, a product, a service, doesn’t matter what it is.

Why do you hate acquiring customers now? You do not hate having customers, but you hate acquiring them. You don’t want to focus on it. Nobody wants to do that. And if you’re like, Jerry, get out of my head, how do you know? It’s like, I know because I’ve worked with hundreds and hundreds of entrepreneurs and entrepreneurs in this realm.

Better human business do not like the acquisition of customers. They just want the customers so they can focus on their craft, whatever that may be. You know, whatever you’re getting better at, whether you’re coaching people, you’re treating people doesn’t matter. That’s the thing that you want to do.

Right. And so as I’ve spoken to and worked with more and more entrepreneurs, I it’s just so funny because we can talk mission, we can talk vision, we can talk values. We can talk about brand colors and logos and slogans and all of those things. And we could talk about making the product or service the best possible thing it could ever be in all the ways that we can just knock it out of the park for our customers.

the data from our funnel

But when it comes to. Just where the rubber meets the road and we have to go get new customers, nobody wants to do that because it falls in this unsexy, slimy, greasy feeling sales and marketing category most people do not love in this space. There are some marketers who just love to market salespeople who love to sell things.

But I think that is incorrect, in my opinion, it’s just an incorrect line of thinking. Obviously, we need the customers to do business, to grow the business. Right. And we need more customers. And so I want to give you some data real quick. This is a short podcast. I want to give you some data because I’ve been looking at data for the last couple of weeks.

We have a lot of data to look at, a lot of customers, a lot of leads, a lot of things that have to be synthesized. And so we can get better at our process and we know where the customers are coming from and what actions they take and what actions we take that might help them along that journey. And so this is based off of a lot of data.

So one data point one, we found out if we proactively reached out a personal touch, proactively reached out to somebody who is at the front end of our funnel, they just first started working with us. They submitted their name and email address in our case. If they did that step and we had a personalized outreach with them, which could just be email, text message, whatever, they were 56 percent more likely to take the next step with us.

So the next step in the sales process. And this is not a sales conversation. If we just reached out with some sort of personalized touch and I’ll talk more about some ideas and what we’ve done, 56 percent more likely. When I first saw that, I was like, well, 56 percent is good. It’s 56 percent more likely.

56% more likely to take the next step

Right. But we still we’re close to that 50, which I don’t like because that means take it or leave it. Someone could take that next action without us having to do that personal touch, which takes time, effort and energy of a human being with an actual personalized touch email. This is not automated, an actual reach out.

Right. But that’s six percent more than 50. So we’re not on the line. So 56 percent, I was like, OK, this is worth exploring more. So we looked into it more. The next bit of data I liked a lot more. So of those 56 percent of the people who took the next step in the funnel, like the last step before they become a customer, 78 percent of those people became a customer. Which was not the case with people who never had a personalized touch, they may have taken the next step, but their likelihood of becoming a customer was closer to 20, 30 percent, somewhere in that range.

Seventy eight percent, 78 percent of those people became customers. That is crazy. That is crazy. All we did was add some personalized touch. So that means everyone should get some personalized touch. It’s hard to scale. It’s very hard to scale. But how much do you really need to scale it? How many customers do you need to get to the next level?

And so let me give you just some actionable ideas, takeaways that you can use, because like I said, once we get this acquisition and marketing sales, people get really uncomfortable. They don’t want to do it. It’s not something I want to talk about or focus on. But that’s not what I’m talking about.

I’m not talking about having some deep understanding of sales psychology or knowing, you know, the ins and outs of copywriting so you can work some sort of Jedi mind trick on somebody. That’s not what any of this is. That’s not what sales is. That’s not what marketing is. It’s just helping people along in the journey.

78% conversion on those who did

And when I say help, I mean actually helping those people. So what were we doing? What are these personalized outreach that we’re doing? Well, we’re just actually being helpful and it can be different per person. It’s personalized. So we ask, what can we help you with? And they might give us an actual problem of what they need help with.

Like, hey, I’m looking for some info on this. I was seeing if your company was the one that could help me with that. And we would either be like straight up, very honestly. No, you’re actually in the wrong spot. Here’s where you could go for something like that. Or we’d be like, yeah, you are in the right spot.

You know, here are three podcast episodes we’ve done about the topic that you’re talking about. Also, we actually have an ebook. If we actually have an ebook, ebook associated with that or a free resource, I’m going to attach it in this email. It’s that simple. We’re asking what they need help with.

They tell us we actually help them. We provide as much value as we possibly can. It’s just humans helping humans. I mean, that’s really what business is at the end of the day. Someone has a problem. You can solve it. You want to be that person. You want to be as helpful as you can in the process. And that’s all you need to do.

what personalized outreach actually means

I can demystify all the sales and marketing BS, everything else out there because you can get better at those things. You can take courses, you can improve your sales, sales skills, all your marketing, but I’m saying if you don’t want to do that, just be a helpful human being, just ask what they need help with and freely help them to the ability that you have.

And they will be more willing to take the next step with you. In our case, 78% more likely after they’ve taken that next step, they’re going to become a customer. That’s insanity. That’s something that you should focus on. I know we’re focusing on it a lot. And like I said, this is a documentation of things we’re doing.

I just got done with this data a couple of days ago. A lot of what I’ve been working on. This is what we’re going to be putting a lot of time, effort and energy into over the next couple of weeks. I’ll update you on how it goes, but start thinking about ways you can implement that in your business.

And if you feel like it’s a little too hard, well, try.