Just like how people have different personalities, there are also different buying personas.
Knowing how to reach every ‘buying personality’ means you can help a lot more people (and make a lot more profit!).
And once you know the kind of people your offer attracts...
You can crack the conversion code by using a sales process that fits them
One of my clients attracts Methodical buyers almost exclusively, so she rejigged her sales process to match their natural buying tendencies - and had her best year ever.
This goes a long way to explain why launch sales are maddeningly low:
Competitive Buyers are fast, logical decision makers. They want the best thing, now.
... Unfortunately only 5-10% of all people buy this way, so there's not many of them. Whomp-whomp!
Our job would be so much easier if there were more ;)
Spontaneous Buyers looooove the emotional 'high' of buying - and are driven by feelings, not logic.
They represent 25-35% of buyers. This is the group that responds best to launches since they thrive on the energy.
Humanistic Buyers purchase from people they have a relationship with. (And those take time to build! ;)
They currently account for about 10-15% of buyers, and are the fastest growing segment.
Methodical Buyers want ALL the deets. They're in no rush and would rather take time to make the right choice.
A launch is often too quick for them to research and make a decision - in fact, time sensitive offers can be a turnoff.
They represent the largest segment of buyers: a whopping 45%!
Since this represents nearly half of all buyers, it explains why many people won’t buy as a fresh lead.
When you look at how people actually buy, it's no wonder why the majority of people aren’t ready to buy during your launch.
Especially when you consider each person has their own buying persona — aaaaand they're at different places of the customer journey.
Like someone could be ready to buy, but BAMMM —their roof starts leaking, and puts other purchases on the backburner.
That's life sometimes, amiright?
I’m not saying that launches are broken,
Because they never really worked the way we intended them to in the first place.
Though they appear to if you play the numbers game… jamming hundreds, even thousands, of people through your launch.
That gets hella expensive, either in ads or affiliates.
And it still doesn’t solve the fundamental problem: that launches only serve the meagre 1-3% of Ready To Buys.
What about everyone else?
But launches are surprisingly good at 1 thing.
Just shifting the role (and expectations!) of a launch can set you up for stable, long-term revenue…
Next: The real role of a launch
Part 4 of 6