If you are in sales, you have probably heard the phrase “the fortune is in the follow up.”
But what really does that mean?
Sales statistics from the National Sales Executive Association show that:
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 three contacts and stop
Only 10% of sales people make more than three contacts
Yet…
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 AND
80% of sales are made on the 5th-12th contact.
If you’re only doing one or two follow-ups imagine all the business you’re losing.
The problem is not that you don’t want to follow up, the problem is that you may not have the systems in place to do it. With a good follow up strategy, these 4 tips and an industry specific CRM you will be on your way to your fortune.
Strike While the Iron is Hot
If a lead comes in chances are they want information now. Making contact as soon as possible is critical, your response time will often determine whether you close a sale or lose a sale. When you put your lead into our CRM and make that first phone call, the date of the next call is automatically scheduled in your calendar. Didn’t get your lead on the phone? Then instantly start a drip campaign. Calls and emails are strategically scheduled to ensure a higher contact ratio.
Vary Your Means of Contact
By using phone calls, emails, text messages, and even direct mail, you are greatly increasing your chances of connecting with the lead. Everyone has different ways they like to communicate and things they will respond positively to. By varying your means of contact, you are making sure leads don’t fall through the cracks.
Set a Schedule, Follow It.
Having tools or processes to remind yourself when to follow up with sales prospects is critical. Make a daily appointment with yourself. Schedule your lead follow ups at a certain time every day and be sure to stick to the schedule you set (no excuses!). End each day knowing you’ve communicated with all of your active leads. It’s helpful to ensure leads are followed up with at the right time. CRM’s are great for this!
Go for the NO
Based on the sales statistics we talked about in the beginning, you should make contact with each lead at least 10 times. Unfortunately, you are not always going to win the lead over on the first conversation. However, you can improve your chances by 20 percent by sending between 2 and 4 follow up emails. Every time you’re in contact you have an opportunity to advance and build the relationship. With our (Franchise Sales CRM) 10 step sales process, schedule the leads that are initial discussions into your calendar to make sure they are getting the attention they need.
Having solid good follow up strategy and an industry specific CRM will separate you from the dozens of people who may call the same prospects as you. This gives you a distinct advantage.
