The best part of being on a roller coaster ride, is the gigantic Loops that you have to go through in order to get to the end of the track. Much like Marketing and Sales, these are also roller coaster rides with their up and downs, but good marketers and sales people understand the importance and know how to utilize loops in the process.
Below we will see 3 examples of how looping is used in Sales and Marketing:
Closing a Deal: You are on a cruise, moving from point A to B with the potential customer, yet the customer won't go through with the deal. You start hitting roadblocks, objections, concerns, and you somehow need to find a way to overcome these. One of the best ways to do it, is by looping! What you are doing is basically taking a few steps back in the process, and see how you can add value, or address these objections in your presentation, hence moving forward you are out of the loop, and forward in the process.
Sales Process: Most people would think that the sale finishes when the transaction happens. As a matter of fact though, the actual sale can be the start of a new loop. On a successful transaction, you want to loop back after some period of time, in order to upsell, or cross sell. Don't aim at just one sale! Try to have repetitive sales, and that's done by positioning your satisfied customers in the constant loop of re-purchasing. Remember that it costs much more to attract new clients, than to sell to existing ones!
Marketing Funnel: Contrary to popular belief, the marketing Funnel doesn't finish at the "Purchase" state. As a matter of fact, in terms of marketing, you can use loops in two ways:
1. You can use loops for the ones who didn't purchase, and that is re-targeting them and re-directing them back to the marketing funnel at a previous stage.
2. The second way is after the "purchase" stage, where you use the customers who purchased, to loop back in bringing more people into the beginning of your funnel. That's using them as advocates to refeed the funnel with potential leads, hence the Funnel becomes now a loop.
Looping is a skill that every sales person or marketer should have. It gives the opportunity to breathe new life into a point in time where you think all is done and dusted, whether that's a sale or marketing activity. Use Loops to revisit your arguments, add value, re-emphasize the important aspects of your pitch, or to feed more leads into your funnel.