Article provided by Pine3 Marketing
Wondering why clicks are not converting to customers? Did you know that 80% of sales are made on the 5th to 12th contact? Chances are that you are focusing on driving traffic to your site or getting ad clicks, but not having a process for following these leads up properly.
Here is some perspective:
- 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
Mix that with these stats:
- 48% of salespeople never follow up with a prospect
- 25% of salespeople make a second contact and stop
- 12% of salespeople only make three contacts and stop
- Only 10% of sales people make more than three contacts
- This means that more than 90% of all salespeople are missing out on 80% of their potential sale
- It is important to understand a little bit about why this is happening to be able to fix it
Why only 10% of salespeople make more than 3 contacts
- They might not have a proper CRM or sales pipeline system to keep control of their leads.
- They think the lead is cold, so they don’t want to nag (but remember now the stat about 80% of sales being made on the 5th to 12th contact).
- They get too busy with another lead and forget about the first one(s) and feel like they have followed up. (But again, remember that 80% of sales being made on the 5th to 12th contact)
Why 48% of salespeople never follow up with the lead
- They do not have a good lead capturing system.
- They might not have a proper CRM system to keep control of their leads.
So, what can you do to increase your sales conversion?
Make sure that you have a good lead capturing systems that don’t let potential customers fall through the cracks. A system should capture all leads from various sources automatically (or as close to as possible).
Realize that most salespeople would benefit either financially (through commission), emotionally (through recognition) or both from increasing their sales, so make sure they have the systems in place to do so. This also gives sales management a tool to see the flow of leads and be able to see where leads might be staggering up and where improvement is needed. This is a win-win.
Automate your follow-up or nurturing. By defining a set nurturing process, you prevent the “nagging”-feeling that is easy to get. You make your sales team more efficient by only focusing on the hottest leads, and you make it easy to measure what communication works and what doesn’t. Set up a sequence with between 5 to 12 contacts to ensure that you capture that 80% that convert to customers in this interval.
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Sources: All stats are from the National Sales Executive Association