We know the gist:
Get people in the door with a series, challenge webinar, mini product...
Give value so they hopefully buy your core offer before Cart Close...
But most people don’t.
No matter how many ads you run, touchpoints you have, how long you’re “live” for,
The majority of people won’t buy during your launch because it goes completely against natural buying habits.
First, we need to understand the enormous gap launches create which practically guarantees failure...
Your buyers fall into 2 critical phases
• People who are ready to buy now
• People who are ready to buy later
(And this doesn’t include the percentage of people who'll never buy from you - which is the majority of your audience)
The Ready-To-Buys are usually 1-3% of your audience, which explains why so few people buy during launches.
Crazy as it sounds, you’re in a great position if your sales fall in that range.
That’s because the real money is in your “Later” buyers - if you treat them right.
When my clients to dive into the numbers, they’re surprised to find that the majority of their high ticket sales happen between 3-24 months.
That’s a heck of a lot longer than any launch.
Why are we building entire businesses on shaky systems that only cater to the smallest proportion of buyers?
Honestly, because the idea of being able to “print money” at will with a launch seems sexy.
We’ve been taught to get fresh leads through the door, launch, sell, repeat.
Sounds simple, doesn’t it? But we know there’s more to it than that.
It’s easy to use faulty logic to make it sound doable:
“When you hold a live virtual event you automatically cover all 16 touchpoints that people need to buy!”
Okaaaaay, but most people still aren’t ready to buy.
“You just need more people, run more ads!”
Sounds simple - but the more ads you run, the more expensive it gets. Fast.
"Just use affiliates!"
Sure, but they eat into your revenue BIG TIME.
And more clients means more customer service, which takes more assistants and coaches to run it - so you bring in less money per person, while increasing operating costs.
Many entrepreneurs find themselves in this awkward bind:
They need bigger launches to meet their revenue goals, but those bigger launches are exponentially more expensive. On every level.
We leave the most money on the table by catering to the small percentage of Buy Nows
Because your next buyer isn’t in a cold Facebook ad audience — they’re in your email list, Instagram audience, Facebook group.
I asked myself the question that changed my entire approach:
How can we support the “laters” and give them what they need to take the next step in the buying journey?
These people are already interested. They already want to solve this problem. They already have a baseline understanding of your offer.
It's SO much easier than starting from scratch with a cold lead. (And you're so much closer to a sale!)
You just need a reliable process to help people move from Laters to Nows.
Knowing how to access the most profitable pool of buyers who are right in front of you is a game-changer.
Before we talk about how to do that, we first need to understand natural buying patterns. (This is human nature, we gotta work with it instead of against it!)
This is why majority of fresh leads won't convert, no matter what you do during a launch...
Next: Why ignoring this buying pattern erodes your profitability
Part 3 of 6