Get Clients Online
The strange mathematics of winning clients through nurture
Posted on November 30th, 2016.Here's something that fascinates me about winning clients.
As I'm sure you know, when you first come into contact with potential clients the chances are pretty slim that they'll be ready to buy from you then and there.
Might be 1%. Might be 2%. Maybe 5%. It depends on the situation, but it's usually very small.
I did a recent test of Linkedin Advertising that bore this out. I ran an ad for two weeks, got 108 new subscribers, and 2 of them joined Momentum Club a few days after signing up: just under 2%.
That leaves 98% of new contacts that need nurturing before they'll be ready to buy.
Of course, some will never be ready. If you've generated those leads via outreach or just happened to bump into them at an event then they're probably not very qualified. But if they sought you out to sign up for a relevant lead magnet then a good percentage of them will eventually be ready.
If we're conservative, let's say 30% of them will be ready to buy some time in the next 2 years.
Here's what I find so interesting about the mathematics.
Overall, a lead is 15x as likely to buy over time as they are initially (30% vs 2%). That's why building credibility and trust over time rather than just ignoring your non-buyers is so vital.
But…
If you look at it on a week-by-week basis, that 30% happens over about 100 weeks (i.e. 0.3% per week), whereas the 2% typically happens in the first week. So on a week-by-week-basis, a new lead is 7x as likely to buy in their first week as they are in any other week. That's why it's vital not to waste that initial period and to give new prospects every opportunity to buy if they're one of the ones who is ready right away.
It almost seems like a paradox. Given those numbers, should you focus on trying to win clients quickly when they first connect, or should you put your efforts into the bigger number of people who need more nurturing?
I see some people who focus exclusively on trying “strike while the iron is hot” and sell early on. I see others who eschew that approach and focus on long-term nurture; almost refusing to sell in the first few weeks because it's “too early”.
Of course, the right answer is that you need to do both. Capture the people who are ready initially AND nurture relationships for the bigger long term sales.
It's not easy but it is possible to do both.


And it's not just the obvious things that can hurt you. Some of the most beautiful, professional looking websites can have huge problems when it comes to their effectiveness at getting you clients.

