Not all businesses offer a product or service that can be purchased quickly and easily. Some companies offer products and/or services that may require months or even years of consideration on the part of the consumer. Common examples include legal services, hospital services, and real estate. When a company offers a product or service with a longer sales cycle, the length of the sales cycle must be taken into consideration during the branding process. If you are wondering how to take advantage of branding in a longer sales cycle, below are the benefits you can use to boost profitability.
1. You Have Time to Make Your Brand Top-of-Mind
When you are working with a long sales cycle, you want to be sure that consumers are thinking of your brand when they are finally ready to make a purchase. For this reason, you need to strive to keep your brand top-of-mind at all times. You need to make sure consumers have seen your commercials, digital advertisements and/or website so many times that you are the only choice that comes to mind for this particular product or service. Fortunately, with a longer sales cycle, you will have plenty of time to connect with consumers.
2. Build a Strong, Stable Relationship with Potential Consumers
Establishing a solid, lasting connection with potential consumers increases trust. When a consumer trusts you, he or she is more likely to choose your brand when the time comes to buy. When you have a longer sales cycle, you have time to reach a consumer many times, allowing the consumer to become more familiar with your products or services. This fosters a strong connection and a deep trust that will often lead to conversion.
3. You Have Time to Educate Consumers
An educated customer will be able to make better, faster decisions when it comes to buying, thus streamlining the purchase process and leading to better results. Fortunately, a long sales cycle gives you the time you need to create quality and professional commercials, success stories, and other TV advertisements that will resonate with the customer that you are trying to reach.
In addition to improving the efficiency of consumer decision-making, providing educational resources will also make consumers more likely to choose your brand. Offering these resources positions your brand as a thought leader throughout the sales cycle, from the awareness stage to the purchase.
4. You are Able to Communicate More Often and on a Deeper Level
Your long sales cycle allows you plenty of time to share your brand's story through a variety of ads, articles, and other content. You can use this time to clearly communicate what your brand is all about and why it is the best choice for consumers. This deep communication is not only effective for increasing brand awareness, but also for building an understanding of your brand among your target audience.
5. You Can Assist the Customer with More Than the Initial Need
One of the best strategies for maximizing the sales cycle involves tapping into your potential consumers' unmet needs. Long sales cycles typically mean more research on the part of the consumer. If you provide plenty of information about your brand and all the different products and services offered, you can draw consumers' attention to needs they didn't realize they had. In the end, they may purchase more than originally intended because of your advertising, their research, and the trust you have built with them.
A long sales cycle may seem like an obstacle for your company, but it can be beneficial if you leverage it properly. By using the strategies above, you can get the most out of your sales cycle and increase the profitability of your business. It's also a good idea to work with an experienced media company when strategizing the sales cycle so you can position yourself for success over the long haul.