People are at their most reflective on New Year’s day and their birthday. These are milestone dates. Another year has passed and it causes people to reflect, ponder and plan for the future.
On birthdays and New Years people consider what they achieved in the past year. Did they hit their goals? Are they happy? What resolutions should they make for the upcoming year? These questions are often deeply personal, but they also have a business connection.
The 3% Rule is like the 80-20 Rule. It’s a rule of thumb to understand your customers’ buying cycle. The goal is to understand your customers’ buying habits to position your brand as your customers’ first call when they’re ready to buy.
The 3% Rule
At any given time only 3% of your market is buying. These are the companies calling for proposals, requesting demos, and engaging your sales staff. Most lead generation programs focus on these active buyers, but what about the 97% of customers that aren’t buying today? By segmenting your market into buying groups you can develop marketing programs to engage each group.