Why Your Marketing Needs Many Touches

I was doing some research for a client in the financial space the other day and came upon this research from Grant Hicks. Even if you’re not in the financial field there is a great takeaway here for marketers all around.

Remember, what you read here isn’t just for financial advisors, but also for management consultants, marketing consultants, and just about any other kind of consultant or business out there.

Most financial advisors find they are 80% more successful after the fifth contact with prospects.

The reason why is in the numbers:

• 5-10% chance of having a person become a customer or client after one contact.
• 10-20% chance of having a person become a customer or client after two contacts.
• 20-30% chance of having a person become a customer or client after three contacts.
• Most advisors give up after three tries.
• 30-40% chance of having a person become a customer or client after four contacts.
• 50-70% chance of having a person become a customer or client after five touches.
• Numbers soar after five touches.
• 70-80% chance of having a person become a customer or client after six and seven contacts.
• In total, 50-80% of all new business developed after the fifth, sixth and seventh touch or contact.

More interesting facts:

• 40-50% of advisors will call once and never call again.
• 25-40% will contact a prospect the second time and follow up and that’s it.
• 10-20% will contact them three times and stop there.
• 5-10% Will contact or touch people five times or more before doing business with them and become very successful opening new accounts 70-80% of the time and earning in the top 5-10% of advisors.

Isn’t it a shame that most marketers give up after only 2-3 attempts to win new business?