About Me

My photo
Melbourne, Victoria, Australia
Born in the mid 1950's and raised in a very small country town situated in Northern Victoria. Resident of Melbourne since 1980 and happy to stay living in one of the world's most liveable cities. You can view my professional profile at http://www.linkedin/in/danielwatson

Tuesday, August 25, 2009

Rapidly Improve Lead to Customer Conversion Rates

As a business owner, you need to clearly understand and ensure that all charged with converting your hard to generate sales leads into valuable customers for your business, clearly understand and apply a set of sequential steps which, if followed religiously, will generate far more sales and make each member of your sales team more productive.

These 7 steps address standard buyer behaviour, and it is important that each step be used and that the next step is not tackled until the potential customer is clearly ready to move up to the next step.

The first step is to establish if there is actually a real need for whatever you are offering. If you can’t get the customer to agree that they have a real need for what you are offering, don’t waste any further time trying to sell them. Simply get their details and agreement to be added to your mailing list, and move on to another prospect.

The second step is to get them to acknowledge the effect that meeting their need will have on them personally. As you have already established the potential customer has a need for your offering, you must determine what it will mean for them personally if this need is able to be satisfied by your offering.

The third step is to instil a fear of the situation continuing to worsen over time. In this step you simply up the ante on the last step, and reinforce how it will continue to affect them personally, if they don’t immediately meet the need they have identified for your offering, and then get them to agree that this will be the case.

The fourth step is to help the potential customer realise that they have a compelling need for change. Having laid the ground work in the previous two steps, this step should be easy for any accomplished salesperson. Simply put, the potential customer needs to be led to the point where they acknowledge that it makes no sense to continue to put up with their current situation.

The fifth step is to lead the potential customer to the point where there is now a clear demand for an improvement in their situation. At this step, the potential customer needs to be helped to paint a picture in their mind, of how their situation will look when they implement the change that your offering will bring to their world.


The sixth step is to give them hope for a better future by suggesting that there are a range of solutions for the burden that they presently carry. This is where you outline the possibilities they might embrace in order to get relief from the pressing need they now have to improve their worsening situation and also determine the level of investment they are willing to make to resolve their situation.

The seventh and final step is to show them how you can deliver the solution for your customer now that you know they have a genuine need for your offering, are ready to take action to satisfy the need, and have indicated how much they are willing to spend to get the relief from the burden they have been carrying. Then you can confidently and quickly close the sale, and move on to the next potential customer.

Are you clear on the importance of each of these 7 steps and why they must be sequential and why you should not move off any step until the potential customer has clearly indicated that they are at the position where you can move them on without losing them?

In your business, are these 7 steps rigorously practiced with all new leads that come into your business?

How much more revenue could your business be generating if these 7 steps were competently practiced on every occasion by well drilled sales staff?

No comments: