Customer Engagement 101: The 3% Rule You Need To Know
Anybody who is in sales or marketing needs to know the 3 percent rule of the buyer’s triangle.
The gist of the matter is customers who are consistently engaged with the brand/company most likely will become brand loyalists, hence bringing a positive impact on the bottom line of revenue.
However, engaging customers before they even need your services can be a true challenge. We advise all our clients, no matter in which industry or function, to familiarize themselves with Sticky Branding’s 3% rule, which outlines the marketplace as five distinct buying segments.
The top 3%: This consists of the segment of active buyers who need your product or service. This top 3% can be sales leads who are actively shopping for vendors or Innovators/Early adopters of new products or services. They are always on the lookout for the latest and greatest and are willing to take risks to try something new. One can target these people with Inbound marketing.
7% who are willing to change: This 7% have the need for the product but they are not actively seeking options. This segment can be receptive to new ideas, and a well-timed communication or marketing campaign can be effective in capturing their attention.
The lower 90%: Convincing or converting the lower 90% of people can prove to be a challenge as they may display prospect-like behavior, but may not be ready to convert easily. Part of them do not have an immediate need for your offering or are just not interested in your company. In such cases, it's important to keep them engaged but without the expectation of immediate conversion.
So how do you convert the lower 90%?
Create an opportunity for them to develop a positive association with your company. Although they may not convert today, nurturing a relationship with them can potentially lead to their consideration in the future.?
Therefore, focus on building their awareness, affinity, and trust in your company long before they actually need or purchase your product.
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Here are a few tips on how to ENGAGE with your future customers:
By creating valuable content such as blog posts, videos, and social media updates, you can establish your business as a thought leader in your industry. This can help build trust with potential customers, even before they have a specific need for your product or service.
Social media is a powerful engagement tool for engaging with potential customers. By sharing interesting and informative content, responding to customer queries, and creating a community around your brand, you can build relationships with potential customers early on.
Personalization is key to effective customer engagement. By tracking customer behavior and preferences, you can tailor your marketing messages to better resonate with potential customers. This can help you engage with them more effectively and build stronger relationships.
By offering free resources such as e-books, whitepapers, or webinars, you can provide value to potential customers even before they have a need for your product or service. This can help build trust and establish your business as a go-to resource in your industry.