Years ago in his book The Ultimate Sales Machine, Chet Holmes shared what he called the “Stadium Pitch”.
It perfectly illustrates the biggest problem you're likely to face when you're trying to sell your course.
Holmes asked his readers to imagine they had a chance to go on stage at a stadium filled with people who fitted their ideal client profile.
The big question: what would they say? What would their “stadium pitch” be?
He went on to say that most salespeople and business owners would try to sell their product to that audience. They'd talk about the benefits, pre-empt objections and make a great offer.
The huge problem though is that even if the stadium is filled with people who fit your ideal client profile, very few of them would be ready to buy at that point in time.
Holmes suggested that:
- Something like 3% of people are actively looking to buy at any given time.
- A further 7% aren't looking but would be open to it
- 30% of people aren't thinking about it at all
- 30% of people think they're not interested (but could maybe be persuaded otherwise)
- 30% of people know they're not interested
Of course, the numbers will vary business to business. But the point is the vast majority of people just won't be actively in the market for whatever you're selling at any point in time.
So if you try to hard sell them, you might get that 3% to buy and maybe even some of the 7%. But you're losing everyone else – including maybe 60% of people who could well buy – but just not right now.
That's why if you do a “stadium pitch” you need to talk about something that the 7% and the 30% and the 30% are interested in hearing about – not just the 3%. Then you keep the dialogue going until the time is right for them.
That's how you convert a high percentage of your potential clients into buyers – not just the fraction who are ready when you first start speaking to them.
I'm sure it won't have escaped your attention that this is exactly the strategy you follow with email marketing.
Attract everyone who could be a buyer with a valuable lead magnet. Then nurture your relationship with them until they're ready to buy with useful, interesting emails.
Of course, that's easier said than done.
You have to come up with great topics to write about consistently. You have to know what it will take to get people ready to buy. And you have to write so that people will open your emails, read them and take action.
But that's why you read these posts :)