Change is the only constant, and as we step into Fall, the business landscape is shifting once again. While some companies may see sales resurge, 'business as usual' is evolving, not returning.
The Evolution of the Buying Journey: A Shift in Expectations
In the midst of monumental market changes and shifts in consumer behavior, it's essential to acknowledge that the buying journey has dramatically evolved. The expectation that sales would happen swiftly as they did in recent years is no longer realistic. The buying process has elongated, and high-ticket purchases especially demand a different approach in today’s landscape.
One common mistake I've observed is expecting business to operate as it did in the past. The truth is, the purchasing behavior and decision-making process have evolved. Reactively changing business strategies in response to this elongated journey often backfires, negatively impacting business growth. This reactive approach can thwart the outcomes entrepreneurs hope to achieve.
Sales of Today for Tomorrow's Returns
In our quest for immediate results, we overlook a crucial truth—today's efforts often sow the seeds for future sales. Launches or sales made now may not immediately convert; they may actually sell future launches. Understanding this crucial concept can reshape our perception of success.
Understanding the Buyer's Pace: Quick-Starters vs. Trust Builders
A crucial realization is that not all buyers are quick-starters. While some might swiftly invest in a solution, most require a build-up of trust. They need to experience your offerings consistently before making a buying decision. Therefore, the launch you're conducting today might not yield immediate conversions, but it primes prospects for future sales.
Realistic Timelines for High-Ticket Offers
Understanding the buyer's journey and adjusting expectations accordingly is pivotal. Particularly with high-ticket offers, the buying cycle elongates. While a low-ticket offer might incite immediate sales, a higher-priced item demands time and cycles for the buyer to feel confident in their decision.
The reality today is that buyer urgency doesn’t always align with our business urgency. Patience becomes a key ingredient; impulsive sales driven by false urgency often result in unhappy clients or low completion rates.
To navigate this evolving landscape, it’s crucial to consistently build trust, elucidate the problem you solve, and highlight the urgency of solving it. Understanding this nuanced journey empowers businesses to market and nurture prospects effectively.
Ultimately, the alignment between your offerings and your audience holds the key. If your offer resonates with your audience, focus on refining your approach rather than making dramatic changes.
by Crista Grasso
Crista Grasso is the Founder of Lean Scaling Co and Strategic Ops Institute and the host of the Simplify to Scale Show.
She developed the Lean Scaling System™ to make scaling simple and sustainable for service-based businesses in the messy middle of $1M - $10M. She specializes in elevating the founder out of daily operations and into visionary leadership and in certifying fractionals and consultants to be able to effectively and strategically scale the businesses they partner with.
