In a recent study I saw, done by Objective Management Group, 92% of all companies they
surveyed have an inefficient, or non-existent sales process.
My experience with clients has been very similar to this and what it means is that with almost
all companies, there are 3 BIggest Holes in the Sales Conversion Bucket.
And like any hole in a bucket, lot’s of water in the form of lost sales revenue continues to pour out.
This means that for all the effort that goes into getting clients through the door, on the phone
or to leave their details on a contact form, there are genuinely interested people in products
or services that are simply not buying (because they are not even getting spoken to)
If these areas are not addressed, what this means for the average business owner is extremely high
costs per sale, sky rocketing advertising costs and unnecessarily low profit margins.
Lack of consistency in the sales process can also effect the prospective client’s experience with the
business as well which can ultimately damage the brand and create negative word of mouth.
It also makes a business harder to scale and grow.
These “holes in the bucket” as I like to call them, typically fall into 3 main areas…
1.Conversion from lead capture to conversation
This is quite simply the amount of leads that enter the pipeline that actually get spoken to
An example of this came up the other day where I spoke to a client who only speaks to 50%
of the leads that come in through marketing.
Often leads are simply not followed up.
But here’s the thing… there is actual research data that shows that it often takes
up to 8 attempts to reach a prospect.
You see these people are interested they are just busy
being people living their lives with all sorts of priorities that change from day to day,
Often sales people give up way too easy and simply go onto the next lead.
Bottom line – big mistake and big money leakage from that hole in the bucket
2.Conversion from lead conversation to client
This is the most common one that gets measured and is often very low.
As an example, in my fiance’s nutrition business, when she took over, they had 40% conversion rates
which by all accounts isn’t too bad.
What we did was re-engineered the sales process. Tanya attended the 1 Day Professional Sales Master Class
(in fact she’s now attended 4 times) and very soon she was able to lift that to a
whopping 95% conversion rate. This means that there is almost no one that walks out of her
clinic without investing in a program !
This has seen her cost of sale go way down and the return on her marketing dollars go through the roof !!
3.Conversion from lead conversation to delayed sale
This is a big one. It’s the whole reason why I wrote the book – How to Follow Up Without Being a Stalker.
Often sales people, (especially in businesses where sales people get leads handed to them), don’t
follow up with people they have seen but not followed up.
What we know is this…
Up to 50% of people will purchase within 18 months of their initial enquiry from SOMEONE.
And who do you think is the business that is MOST likely to get the sale ?
Yep you got it – the business that stays top of mind and follows up in a professional, proactive way.
Have a look at these 3 areas in your business. and if you’d like to have a more serious conversation
about how to dramatically increase your conversation rates in your business, simply go to this link
Please only apply to speak to me if you are really serious about creating a sales and conversation breakthrough
in your business.
Look forward to chatting to you.