Lack of Sales Follow Up is Low Hanging Fruit

Lack of Sales Follow Up is Low Hanging Fruit

Sales Follow Up Audit

Question: 1) Have you ever engaged with a salesperson on the telephone, agreed to further evaluate or look into their product or service, but were never re-contacted by them? 2) Have you ever filled in your contact information on the Internet to download a whitepaper, get an e-book or start a trial, but no one from the company ever called you? 3) Have you ever walked into a store, engaged with a salesperson about a specific need, communicated that you wanted to think about the choices they presented you, but they never followed up?

If you answered yes to one or all three these questions, you are not alone. According to research conducted by CTT, 48% of salespeople never follow up with prospects. Why? The three most common reasons are: lack of commitment (company issue), lack of training (sales issue) and poor work ethic (management perspective). The most common reason is lack of training; i.e., not knowing what to do and how to do it. This is an opportunity for companies and salespeople to capitalize on the lack of follow up of others and to use follow up best practices to increase sales.

Sales Follow Up Best Practices

Speed. The average salesperson contacts a new prospect lead three days after inquiry. Three days! Salespeople who respond within five minutes versus 30-minutes increase their connection and qualification rate by 21 times.

Persistence. When they do follow up, the average salesperson contacts a new prospect one to two times before giving up and quitting. Eighty to 100% of new customer sales require five to 12 contacts before closing a deal.

Frequency. Salespeople should make an average of 6-9 contacts over a 10-14 days period to have a 90-93% chance of connecting with a new prospect and closing a deal. Leverage CRM to automate the follow up cadence.

Escalation. When managers connect with new prospects on their cell phone immediately after leaving the store, on average, 50% return and 80% become buyers at that time. Cell phone number matter. Source: CTT.

Creativity. Salespeople should use a mixed media strategy in their follow up. Prospects prefer to be contacted: 93% via email, 86% via office telephone, 84% via mobile telephone, 81% via voicemail and 79% via text. Mix it up.

Source: InsideSales.com

Follow up is one of the cheapest, easiest and fastest ways to grow sales. Follow up is also another opportunity to provide value to prospects. Prospects buy when they believe there is more value in doing so than not doing so. Value is the relative desire or worth of your product or service to them. Value is about the prospect, not you. Position value in terms that are meaningful to them. Prospects need help. Be the salesperson to help them. If you do not help them, another salesperson will pick off the lowest hanging fruit that you and half of all sellers are missing.

All contents copyright © 2016, Josh Lowry. All rights reserved.

Why Hiring for Ambition Matters

Ambitious People, What is Ambition?, Why Hiring for Ambition Matters

Ambitious people have an excessive desire for achievement or distinction (income, title, etc.), which they combine with massive action in pursuit of their goals and targets. Ambitious people demonstrate a willingness to do whatever it takes to make things happen versus wait for them to happen. Leaders who want their organizations and people to operate with greater ambition must understand that it starts with them. Ambition must become a core value that is consistently demonstrated and rewarded. It must also be something that people are regularly hired and fired for.

Why is ambition important? Because it directly impacts performance. For example, weak performers put in .5X the time and .5X the effort. When you multiply .5X by .5X, you get .25X the result. Average performers put in 1X the time and 1X the effort. When you multiple 1X by 1X, you get 1X the result. Strong performers; i.e., people with ambition, put in 2X the time and 2X the effort. When you multiple 2X by 2X, you get 4X the results. Over time, strong performers do 1500% better than weak performers and 300% better than average performers.

Accordingly, ambition should be assessed and developed. People with ambition generally demonstrate seven characteristics. The seven characteristics are: 1) They are all in. 2) They are committed to development and growth. 3) They are driven by purpose. 4) They are goal-oriented. 5) They have massive work ethic. 6) They see problems as opportunities. 7) They take massive action. Ambitious people do not want to just do well, they demand to do well. Look for people who consistently demonstrate the seven characteristics and help develop and grow in these areas.

Ambition should also be protected. If not, lack of ambition will spread like a disease throughout the organization. Why? When people settle they want others to do the same. Lack of ambition looks like: you are okay with average or below average performance; you get in late and leave early; you procrastinate versus act. Lack of ambition sounds like: “Will you ever be satisfied?” “You never go out to lunch anymore.” “You work too hard.” If people are not ambitious enough, get rid of them. There is no shortage of money or opportunity. There is only a shortage of people going after it.

All contents copyright © 2016, Josh Lowry. All rights reserved.

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