The bullseye approach to selling is a conceptual tool which helps visualise and explain to young entrepreneurs just starting how they can make sales.
Traditionally, a company will try to generate sales in the following manner.
First, it will create marketing materials which it hopes will help raise awareness about its brand.
Next, it will begin distributing those marketing materials through various channels, trying to build a following and gain influence on digital platforms.
Finally, it will create an email list and get in contact with prospects, hoping to make a sale.
The bullseye approach, however, says that this gets the order wrong: companies should start by trying to maximize the sales they can make through their existing marketing assets and then, once they have established a base, move on to building brand awareness.
The purpose of the bullseye approach, therefore, is to help companies avoid the conclusion that digital marketing doesn’t work for them. The reason it doesn’t work is usually that they have not adopted the methods which will actually help them to develop their selling capacity over the short term – right when they need to make sales the most.
The Phases Of The Bullseye Approach
The bullseye approach has three distinct phases.
Phase 1 – Exploit Current Marketing Assets
The first phase of the bullseye approach is to make use of the marketing assets that a company already has. These assets could be a mailing list, a social media presence or the phone numbers of possible clients.
The purpose of phase one is to build confidence. It can be hard for young entrepreneurs and those starting to stay motivated if the task of acquiring customers seems impossible. Phase one involves optimizing the marketing assets that the firm already has to gain customers immediately. Often, within six months, an ailing business can achieve impressive results.
Phase 2 – Sell To Prospects Who Want To Buy Right Now
Even as we move out from the centre of the target, the bullseye method is still directs businesses to make quick, easy sales. The next step is to only sell to people who want to buy right now. But how does a company find these willing customers?
Search is the best place to start. When people type in specific keywords, they show their “intent.” Sometimes this intent can be to buy right now, so it’s worth doing some research to find out what these words are and then incorporate them into the company’s SEO strategy. You can also track the number of times a particular customer opens your emails or visits your website – the more often they do this, the more likely they will buy.
Phase 3 – Engage In Long-Term Branding
The final stage of the bullseye method is the one that most companies start with first: building brand awareness and establishing branding programs.
You can build a long-term brand through multiple channels including at events and trade shows, through social media content, video uploads, influencer marketing and even direct mail. But as the bullseye method teaches us, we should focus on the low-hanging fruits first and then once we’ve established a base, move onto more general marketing practices.
Keep this method in mind when thinking about your upcoming sales strategies.