A Unique Advertising Strategy: The 95-5 Rule
There is a not-often discussed advertising strategy known as the 95-5 Rule.
Before defining what it is, I am going to give you some food for thought by asking some questions.
How often do you buy a new computer?
How often do you upgrade your phone?
How often do you trade in your old car for a newer one?
You should have gotten at least 3 different answers there, right? And you have wildly different purchasing expectations for all 3 of those types of purchases, yeah?
Well, this unique advertising strategy takes all of this into account by using the 95-5 Rule.
What is the 95-5 rule?
The simple explanation of the 95-5 Rule is this: 95% of your potential clients are NOT ready to purchase yet, and only about 5% are even willing or ready to purchase right now.
So, when it comes to your marketing, you typically focus on that 5% that can make a purchasing decision right now.
However, this unique twist on the 95-5 Rule will make you think twice before allocating your time and energy chasing that 5% all the time.
A cool, unique advertising strategy
Rather than focusing all that effort on the 5% right now, you should be taking a portion of that effort and focusing it on the people that will be ready to purchase your product or service in 1, 2, 5, and even 10 years!
If you keep hitting that 5% who are ready right now, then the other 95% are going to forget you ever exist!!!
One example I read mentioned BMW’s advertising strategy…
…they don’t make ads targeting people looking at buying a car right here and right now.
No, they know that their product is a more premium option, one that people will be thinking about and saving up for over the course of a year or more. So their ads look a little different. They tantalize.
They dangle the BMW here and there at people looking to upgrade their car. That way, when they are ready to buy one…they already know they want a BMW.
Similarly, think of Apple.
Those ads you see pushed everywhere? They aren’t for iPhone users.
No way! Apple already knows that if you get someone using an iPhone they will keep using it no matter what (and, hey, P.S. they know this and take advantage of it, too, by designing iPhones to fail within 1-2 years).
They know what they are doing.
If they can just keep dangling the iPhone out there with the features it offers and the clout of the name that comes along with it, then they only need to convince you to buy it once…and then you’ll stay forever anyway…
What about me, Dylan? How can I use this unique advertising strategy?
I’m so glad you asked!
Because…here’s the thing.
Some of you reading this are NOT creating ads on Facebook or emails or whatever…
…but what if I told you that this advertising strategy is usable outside of advertising??
Think about this: if you write a book, you could try to take this and build ads just like Apple or BMW…
…but it isn’t really how it works, right?
Nope!
But you can start focusing on building out a content marketing strategy that is focused on keeping your name and the name of your book out there. Over time, when people are ready for their next book purchase, your goal is to have shown up in their feeds at least once a week or so…
…then you are the first book that comes to mind.
The same concept applies to content marketing, customer service, and, heck, even getting picked next for dodgeball!
You keep showing up, talking about your thing, talking to others about your thing, etc. and eventually someone will think of you when it comes up…even if it takes some time.
Suddenly, those 95% of people who weren’t interested yesterday will start trickling in today, tomorrow, next week, next month…
…stack those numbers up and it makes a big difference!
Alright…does this sound crazy?
Did I convince you that this cool advertising strategy is worth considering and playing around with?
Because I don’t even use ads for my business! But I found this view of the 95-5 Rule to be genuinely insightful. Turn the diamond just a bit and you can see something you didn’t see before…
…but if you liked what you read, then there is this neat idea I have for you: hire me! Yeah, I am a–what we call in THE BIZ–a contractor, a freelancer, an agency owner, etc. So my lance is free if you need me to joust someone for you (yeah, that’s where the term came from lol).
But really. Shoot me an email or contact me. Let’s talk. Or just say hello–I like that, too 🙂
Per the usual, I appreciate you, my friend!
