The question really should be; what is it that you are not doing, that if you did it, you would see a dramatic upswing in the fortunes of your business through the regular acquisition of new customers or clients?
Whether you like it or not, if you own a business of any kind, you are primarily in the sales business and despite the array of social media tools available today, the greatest and most effective tool anyone in the sales business has at their disposal, is still the telephone.
In the right hands, the telephone is the cheapest and most time effective means of introducing any offering to a target market and making appointments to present directly to the key decision maker.
To succeed in virtually any business, you need to have a consistent flow of appointments, to get appointments you need to talk to decision makers or their gatekeepers, to do this effectively you need to master the telephone and use it frequently to contact potential prospects who you want to become your customers or clients.
You can engineer a dramatic upswing in the fortunes of your business if you master the telephone, and make a minimum of twelve (12) calls to targeted business owners each and every business day, without fail.
After doing so for a few weeks, refining your pitch as you go along, you will find that at a minimum you should be converting at least 5 to 10 percent of the 60 weekly calls to appointments, where you will have the opportunity to make a sale. Covert a reasonable percentage of these appointments into new customers or clients, and you will be well rewarded.
The trick to succeeding in this endeavour is to set aside a minimum of 45 minutes each day, find a place where you can work free of any distractions, and do nothing in this time but make the calls. It works even better if you assign the same block of time each day to this activity.
Any business owner who adopts this discipline, sticks to it religiously on a permanent basis and at the same time works assiduously at refining and improving their pitch to the targets involved, cannot help being successful at the key task of getting in front of as many prospects as possible, in the time they have available.
To maximise the effectiveness of this simple solution, business owners need to learn the art of the three minute telephone call. Buy an egg timer and if you see the sand has run out, and you have not arranged an appointment, terminate the conversation and move on to the next prospect.
It also helps if you keep daily records of the number of calls made, the number of appointments gained, the conversion rate of calls to appointments, and then track this ratio on an ongoing basis as you develop your skills in this area.
Who to call? You call anyone that you wish to make a customer or client within the niche you wish to create for yourself. The best sources of business leads for cold telemarketing have always been the yellow pages, local business directories, local newspaper advertisements, businesses letter drops in your local area, your local government authority, and the local chamber of commerce.
What to say? Prepare a very well crafted mini sales pitch for your product or service which will quickly grab the attention of the prospect you call, which focuses on the benefits for the customer or client, and which allows you to quickly uncover whether or not the prospect has a need for your offering.
Overcome your reluctance to pick up the telephone and then commit to simply making 12 calls each and every day to make appointments with prospective customers or clients, and before long, you will see the results and your business will be more successful.
Remember, that to make this a habitual activity and to ensure that you refine your sales pitch until it works brilliantly, you need to commit to this discipline for a minimum of 21 business days.
Is your business acquiring as many customers or clients that your product or service deserves?
Do you have a disciplined approach to telephone prospecting?
Will you devote a minimum of 5 hours per week to producing an upswing in the fortunes of your business?
This blog features the writings of Daniel Watson B.Bus.(B.A.), AIMM, MAICD, Managing Director of Rhodan Management Consultants Pty. Ltd.(Est.1994). It will focus primarily on providing food for thought for SME business owners wanting to grow their businesses, but will also impart the unique insights into business and life that Daniel Watson has developed over more than 3 decades as a company director, general manager, management consultant, sales manager, and business development manager.
About Me
- Daniel Watson
- 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
Showing posts with label conversion rates. Show all posts
Showing posts with label conversion rates. Show all posts
Tuesday, September 15, 2009
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?
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?
Labels:
business owner,
buyer behaviour,
conversion rates,
lead conversion,
revenue generation,
sales performance,
sales team productivity
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