Are You Giving Your Sales to the Competition?

I stumbled on these figures the other day, and while they’re not surprising, they speak a lot to how we can not only  improve our sales processes but more importantly, understand what makes people buy.

For example, did you know that:

 

  • 48% of sales people never follow up with a prospect
  • 25% of sales people make a second contact and then stop
  • Only 12% of sales people make more than 3 contacts

 

At the same time:

 

  • 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

 

Analyzing the combined  results in perspective, we can assume that the 48% who never followed up with a prospect either didn’t establish the need before they walked in, got bad ‘vibes,’ got too busy, didn’t care enough about the sale, or simply spent all their time talking about their own product.  Too bad, because it left the door wide open for their competitors to step right in and win the sale. If it’s simply a matter of not having the time, putting together a follow up system is an easy solution.

 

The number of sales made increases with the number of contacts made.  A whopping 80% are successful after five to twelve contacts. It’s a wake- up call to those who don’t follow up, and speaks to the heart of what prospects want to feel before they commit to the sale. It’s called Trust.  It’s earned by taking the time to build a relationship.

 

There are a few things we need to remember when we reach out to potential clients:

 

  • They don’t care about you. They care about themselves and their own needs.
  • Practice active listening. Rather than push product, let them do most of the talking. Respond to what you’re hearing.
  • Can you help them through the buying process? Clarify or fine tune a need? What problem can you solve for them? What are your benefits or your product? Can you help them achieve a better result?
  • What’s your value added? What’s your brand promise? Do they feel they’ll be getting more than their money’s worth by working with you? In other words, do they feel they can trust you more than the ‘other guy’ to take care of them?
  • Get it into your head that you’re not there to make a sale.  You’re there to help. (Do that and believe me, the sale will come on its own).
  • Demonstrate reliability and concern. Follow up on a regular basis and be sure to note something from a prior conversation. It will let them know you remember them, not as a commodity but as someone who is genuinely interested in them as people.  An idea you might use is “I saw/read/thought about such and such the other day and thought of you.’

 

Always, and in all ways, remain in touch regularly. Be positive and don’t give up. You’re just checking in. Forget trying to make the sale. Practice people skills instead and build solid relationships.  You’ll not only get the sale, but build  long-lasting relationships, which are infinitely more rewarding.

“Stop selling. Start helping.”

    -Zig Ziglar