Awakening the Sleeping Giant: Tapping into the 97% Not Yet Ready to Buy

Awakening the Sleeping Giant: Tapping into the 97% Not Yet Ready to Buy

Tap into the untapped 97% of your potential market. Beyond the 3% of active buyers, lies a vast majority – 97% of your potential market, waiting to be engaged. Get acquainted with this crucial understanding and it will change your marketing forever. Discover strategies to awaken The Dormant, nurture The Contemplators, and convert The Seekers.

Brandon F.
Chief Expozeur Officer

August 23, 2023

Beyond the Visible: The Unseen Majority

As business owners and business executives, our attention naturally gravitates toward active customers — the minority of people ready to make a purchase. However, active customers represent only 3% of potential buyers, The Seekers.

The remaining 97% are unseen, but ripe with opportunity. This unseen majority comprises The Dormant, unaware of their need for your product, and The Contemplators, aware but not yet ready to buy. Tapping into this reservoir can unlock exponential growth.

The breakdown of numbers is a general rule, not a science. The concept is derived (with a revision to the naming conventions) from Jeremy Miller in his book, Sticky Branding, although we think we recall this general principle originating from one of the 20th century sales gurus, perhaps Zig Ziglar or Jim Rohn.

Regardless of origins or scientific precision, the reality is profoundly accurate. To miss this reality is to leave money on the table. If you want to grow your market share, you should start by understanding markets.

To wrap up our introduction with a touch of humor, consider this: Focusing solely on The Seekers is like searching for lost keys only under the streetlight because that's where the light is. It's time we venture into the unlit areas — the realms of The Dormant and The Contemplators — because that's where the rest of our 'keys' to growth are likely hiding.

The Dormant

The Dormant doesn’t dislike your product; they simply don’t know it exists. Your challenge is transforming their indifference into curiosity and, ultimately, interest.

Why the Disinterest?

The Dormant isn’t indifferent to their needs, just your solution. They may not realize they have a problem you can solve or hold misperceptions about your industry. Your job is to educate them, address misconceptions, and ignite their interest.

Lighting the Flame of Interest

Engaging The Dormant is an art. It requires a delicate balance of education, interest, and trust.

  • Crafting Informative Content: This is the foundation of your engagement strategy. Create content that educates the Indifferent Market about their needs and how your product meets those needs. This could be blog posts, videos, infographics, webinars, or podcasts. The content should be engaging, easy to understand, and provide real value to the reader. It should not only inform but also entertain and inspire.
  • Sharing Compelling Customer Stories: These are the narratives that humanize your brand. Share stories of how real customers have benefited from your product. These stories, or testimonials, provide social proof that your product works and can help potential customers see themselves using and benefiting from your product. They also build emotional connections, which are crucial for driving interest and trust.
  • Offering Vivid Demonstrations: This is the experiential aspect of your engagement strategy. Offer live demonstrations, free trials, or samples of your product. This allows the Indifferent Market to experience the benefits of your product firsthand, making the value of your product more tangible and real. It's one thing to tell them about your product, but letting them experience it themselves can be a game-changer.

With the right nurturing, the spark of curiosity can evolve into a flame of interest, preparing this market to buy. But remember, lighting the spark is just the beginning. You need to continuously fuel the fire to keep their interest alive and eventually guide them towards making a purchase.

The Contemplators

Watering the Seeds of Interest

With nurturing, The Contemplators' consideration evolves into demand, and they become active buyers. But that process requires tending to the relationship long before they’re ready to purchase.

The Contemplators are potential customers who are aware of your product or service but are not yet ready to make a purchase. They are in the consideration stage, weighing their options, gathering information, and waiting for the right moment or incentive to buy.

Understanding The Contemplators

The Contemplators are not passive observers. They are actively engaged in the process of decision-making, albeit at a slower pace. They are gathering information, comparing alternatives, and assessing the value proposition of your product or service. They are not yet convinced, but they are open to being persuaded.

Building Relationships with The Contemplators

Engaging The Contemplators requires a delicate balance of providing value, building trust, and creating anticipation. Here are some strategies to consider:

  • Stay in touch: Regular communication via email, social media, or content marketing can keep your product or service top of mind. Offer updates, deals, tips, or resources that provide value and demonstrate your commitment to their needs.
  • Highlight your unique selling proposition: What makes your product special? Share the unique benefits and features that set you apart from the competition. This could be anything from superior quality, innovative features, exceptional customer service, or competitive pricing.
  • Create buzz and build desire: Generate excitement about your product or service. This could involve offering previews, early access, or exclusive offers. The goal is to create a sense of anticipation and make The Contemplators feel special and privileged.

Guiding The Contemplators to the Next Stage

With the right nurturing, The Contemplators' consideration can evolve into demand, transforming them into The Seekers — active buyers ready to make a purchase. But this transformation requires patience, persistence, and a deep understanding of their needs and concerns. Remember, the goal is not just to make a sale, but to build a long-term relationship that will lead to repeat business and referrals.

The Seekers

The Seekers are seeking a solution now but still deciding which option is right. They need reassurance they’re making the best choice. Your goal is providing a seamless experience and compelling reasons to choose you.

Why the Indecision?

The Seekers are ready to buy but actively comparing alternatives. They need to feel confident in their selection and desire a simple purchasing process.

Easing the Path to Purchase

Strategies for engaging The Seekers include:

  • Spotlight your competitive advantage. Highlight what makes your product superior to alternatives. Testimonials and guarantees provide reassurance.
  • Simplify the experience. Ensure a smooth discovery-to-checkout experience. Remove any friction or confusion in your buying process.
  • Provide incentives. Limited-time or unique offers give The Seekers motivation to choose you over the competition.

With the right incentive and experience, The Seekers' indecision turns into action. But you must first capture their attention and make the choice clear.

Conclusion: Venturing Beyond the Visible

In the grand scheme of business growth, focusing solely on The Seekers can be likened to harvesting only the low-hanging fruits. While they are easier to reach, they represent just a fraction of the entire yield. The true potential lies in reaching higher, in awakening The Dormant and nurturing The Contemplators.

By understanding and engaging these segments, we can tap into a wellspring of growth that extends far beyond immediate sales. It's about building relationships, not just transactions. It's about creating value, not just profits. It's about seeing the unseen, hearing the unheard, and engaging the unengaged.

As we venture into this uncharted territory, we are not just marketers or salespeople, but explorers and pioneers. We are not just growing our businesses, but expanding the boundaries of what's possible.

So let's embark on this journey, armed with the knowledge and strategies we've discussed. Let's awaken The Dormant, nurture The Contemplators, and welcome more Seekers. Let's unlock the untapped potential of our silent majority and witness the exponential growth that awaits.

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