Why Don’t My Leads Convert into Sales Right Away?
Wouldn’t sales be simpler if everyone you met just said yes right away? Why do sales take so long? Why don’t people want what you have to sell right now?
Imagine how easy business would be if you had something everyone wanted right now and everyone you met in business bought right away?
Let’s be honest, that’s not real life, is it? This sales thing takes time, and not everyone is ready to say yes right away.
But why is that? Why aren’t your prospects ready to buy right away, and what do you do about it?
Do they trust you?
Business and sales are built on trust, and if you don’t have trust it could harm your chances of getting the sale. Building trust is an essential part of your marketing and brand but also a key part of your follow-up.
If you place a prospect into your funnel, don’t look at it as a lead; try to see it as a chance to build a relationship. Every time you follow up, call them, meet them or send them something, you’re building a relationship.
This is also great for those sales that won’t come to fruition. If you’re building a relationship with them and you do a good job, they’re more likely to refer you to someone who does need what you do or have.
Following up with great content and good timely contact points will help you to build trust. Offer to answer questions and put them at ease. It’s a relationship, remember?
Do they have the money?
To say yes to a sale you have to have the budget to do so. They might well trust you, but what is their cash flow saying? When you get a no because of budget issues, ask when would be a good time to ask again. When do they renew their budget? Set a reminder in your CRM to contact them then.
Timing is everything as you won’t be the only business offering them a service or product. If their business is seasonal, their spending habits will be too. Just because you met them networking or they enquired about you does not necessarily mean they have the budget right now.
Do they need you yet?
A lot of enquiries and leads you have might well be ‘long-tail leads’. These leads will take time to convert, and one of the reasons might be that they met you at a show and showed an interest, despite not really having a need for you.
How often have you seen something and been interested in it but not been ready to buy?
With these leads it might be worth catching up with them and checking in with them occasionally and not hassling them too much. Try to get them to opt into your emails and add them to your social media so they can be reminded about you gently.
They might not be ready yet, but you need to stay memorable for when they are.
Are they researching other companies and options?
You might not be their first and only! Shock horror – you have competition! It can be frustrating to be on a ‘possible’ list, but that leaves you the job of staying memorable and making sure you’re on top of the lead and what it is they need from you, or are looking for from someone else.
Demonstrate how great you are, build trust, romance them with something great in the post and take an interest in their LinkedIn or marketing activity. Keep an eye on their movements online and try to be where they are.
If they exhibit at a show, maybe pay them a visit or take them a coffee. Comment on their posts and reply to their emails. Make sure you’re adding value, but be there so they can’t forget you.
Have you really demonstrated the benefits?
Is it possible that your prospects and enquirers don’t fully understand how you can help them be better at what they do? What you do helps them in some way or another. DO they fully understand it? Have you demonstrated the benefits (not the features) of what it is you can do for them?
You get many chances to do this, so do some homework on the client and work out what it is they do and how what you do could fit that and help it perform better.
Maybe you haven’t touched them enough yet.
Touchpoints in follow-ups and marketing can go into double figures. The first time of asking could be just the beginning of your relationship. Keep going! It can be easy to just give in – or worse forget – when you’re working people through your sales funnel.
Put a sales funnel in place that sets you tasks to follow up in a timely manner, and consistently update them and your system. When you’re doing this en masse you’ll need a system like SalesRadar to help you stay on top of it all.
Get your system in place and tailor it as you go.
Not everyone will be ready right away, and it’s your job to be there when they are ready. Ask the right questions each time you catch up or drop them a reminder, and try to use their answers to predict when they’ll be ready to buy.
Remember: Asking for the sale should be seen as helping them. Taking on your amazing service or product will benefit them or their business, right?
It feels so much better than sales when you look at it as helping.