sales tips & articles

Did you know that the majority of sales leads and enquiries do not get followed up more than once (which could be why your business has a low conversion rate*)?

To improve your sales or that of your sales team, develop a system to regularly check where each one is at and when they were last contacted. If you hold sales meetings, doing it at the beginning or end of each month is perfect.

Here are some statistics that I'm sure you will find most interesting:

• 48% of sales people never follow-up with a prospect
• 25% of sales people make a second contact and stop
• 12% of sales people only make 3 contacts and stop
• Only 10% of sales people make more than 3 contacts
• 2% of sales are made on the first contact
• 3% of sales are made on the second contact
• 5% of sales are made on the third contact
• 10% of sales are made on the fourth contact
• 80% of sales are made on the fifth to twelfth contact

To ramp up some sales in the next couple of months, go through all the leads you have received over the last 3-6 months and either you or your sales people pick up the phone and call them. You will be surprised how many people haven't done anything, simply because no one has bothered to follow up and they have simply been too busy to do anything about it.


* Your sales conversion rate is how many enquiries you receive vs. how many you convert into customers over a specified time frame. To calculate your sales conversion rate follow this simple formula

Total No. of Sales/ Total No. of Enquiries x 100 = Sales Conversion

e.g. 80 sales / 120 enquiries x 100 = 66.67%

For for every 3 enquiries you will be successful in 1 sale, so you need to have 3 times the amount of your budget (or number of required sales) in your pipeline at any one point in time.

This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach, Strategist and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.
 

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* Easy ways to increase your sales and grow your business
* Simple strategies to sell yourself, even if your not in sales
* How to generate sales easier and quicker!

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Did you know that one of the biggest gripes against salespeople by decision makers is the lack of follow up?

Many people resist following up because they find it uncomfortable and don’t want to seem pushy or annoying and many people don’t follow up because they simply forget. This lack of follow-up presents a great opportunity for those who are organized and take the time to do it.

Follow-up is important because

• It lets people know you are interested and that you care
• It’s shows your level of commitment
• It keeps the relationship progressing
• It provides opportunities for new discussions and new ideas
• It reminds people you are out there and available
• It shortens the sales cycle
• It saves people time
• It leads to sales!

Some people walk a fine line between following up and being a pest so it’s important to know when enough is enough.

When cold calling, follow up can range from one to six months depending on the interest level, time of year and budgets (to name a few). Follow-up is not about pushing your products or services but rather developing a relationship and ‘earning the right’ to do business with people. When following up, don't simply call to "follow up”, add value in every call and think about what you want to say prior to picking up the phone. Is there something newsworthy that you can discuss that applies to them? Perhaps a success story with a client you've worked with? For example:

• "I was just thinking about our recent conversation and I have some new ideas that I'd like to share with you regarding how our [product/service] may actually complement and enhance what you're currently doing, especially when it comes to [state benefit/end result they could realize]."
• "I was thinking about another client who was in a similar situation as yours and thought that you might be interested in hearing about how we were able to eliminate the challenges they had, such as [state some problems your product/service could eliminate]."
• "We've made some interesting changes to our [product line/service/programs/packages] and thought of you and the results you were looking to achieve. There may be a great fit here worth exploring in more detail so that you can [state compelling benefit]."*

There are many, many examples of large sales being made after 6-12 months of calling just to get an appointment to discuss the opportunity, so don’t give up after the first call.

If people insist that they have no need for services and do not anticipate ever having a need, ask if they would like to be included on your mailing list so you can send them interesting information, tips (just like this one)and to keep them abreast of changes in your business or your industry.

If you need to follow-up after a client meeting, I find the best approach to take is to ask them when is the best time to call. This is particularly relevant if you need to follow-up a quote and you’re not sure when they will be making a decision. For example – Client “I need to look over your proposal and will give you a call once I’ve made a decision”. Sales rep “No problems, if I haven’t heard from you by Thursday (I usually wait 2-3 days) would you mind if I gave you a call?”

By taking this approach you are being told when to follow up and have been given permission to do so – it’s efficient, removes any discomfort of follow-up and it works.

Remember, follow-up takes organisation and good record keeping – not a good memory. There are a number of great contact management (or CRM) systems that will keep a record of all your interactions and allow you to enter follow-up calls or tasks. Many of these programs integrate with your Outlook calendar and your handheld so you can enter reminders in the office or out on the road. I use ACT by Sage to enter all my meetings, phone calls and reminders, which synchronises with my Blackberry. No matter where I am I always have access to my diary, my reminders and all my contacts. It’s fantastic when I need to follow someone up on a particular day that may have been weeks after the initial meeting.

So, impress your prospects and your clients and earn the right to do business with them; it highlights your commitment and your interest in having them as clients. You will be amazed at the results and just how much you stand out from the crowd.

This sales article was written by Karen Andrews, Director of Shine Sales Solutions, a Sydney based Sales Coach, Strategist and Sales expert that works with businesses to increase their sales through strategy development, sales coaching and mentoring.

If you liked this article, subscribe to our monthly Sales Success ezine. You will learn...

* Easy ways to increase your sales and grow your business
* Simple strategies to sell yourself, even if your not in sales
* How to generate sales easier and quicker!

Enter your details at the top of the page or click here

* quotes were supplied by K. Rosen at allbusiness.com