If you’re in business, then you need sales. If you need sales, then you need people to say ‘yes’ more than they say ‘no’.
Increasing the number of ‘yes’ answers over the ‘no’ answers is the obvious answer to business success but it’s astounding that almost 80% of sales leads never get followed up! That’s a lot of lost ‘yes’ votes.
Before we go into why these sales leads don’t get followed up, let’s look at the evidence:
- 44% of sales people stop asking after just one ‘no’.
- Then 22% of them give up after two.
- 14% cave after getting three ‘nos’.
- and 12% then throw in the towel after being told ‘no’ four times.
So 92% of us give up after being rejected four times or less. Only 8% go on to ask for the fifth time. When you consider 80% of prospects will say ‘no’ four times and say ‘yes’ on the fifth, you can spot the obvious problem.
If you’re not in the 8% of sales people who keep going to the magical number five, then you’re missing out on business.
So why don’t sales leads get followed up and why are we all missing this valuable business?
Being told no is painful. Yes, it’s like being 9 years old again when you couldn’t have that Teenage Mutant Ninja Turtle (just us!?). So being told ‘no’ hurts. It’s a painful process but take comfort in the fact that you’re not alone and most people (92%) will say not at least once!
Rejection is part of the process. Look on the brightside: rejections mean you’re getting closer to a yes!
No knowing how to follow up
It’s possible that many businesses simple don’t know how to follow up. How many times, in what format, which style, and what to say, or how to say it.
Following up is more important than gaining new sales leads in many cases but it’s also a lot harder. The process of following up can be long and laborious (it doesn’t have be) so it’s easy to see why many give up too soon.
When you follow up you need to be:
- Personal – make your follow-up as personal as possible. Include information about your prospect and tell them how you can work together. Find their particular problem and show them how you can fix it.
- Useful – often your follow-up can also be useful. Maybe find some great information for them or send them a blog post you’ve written that can help them achieve something in their business. Being useful shows them you’re good at what you do and saves you being too hard on the sales.
- Specific – it’s easy to fall into the trap that your prospect knows exactly what you do and why that’s helpful to them. Be really specific about your product or service and remember to sell the benefits not the features.
Forgetting to follow up?
This is possibly the biggest reason most sales leads get neglected.
It’s not your fault! You’re in business, and you’re in the business of selling services or products, so you really need those sales. You have every good intention of following up; we get it.
As a business owner or senior manager you’ll be incredibly busy and with everything going you can easily forget important tasks. Without a system, the chance of forgetting processes in your business becomes more probable and that’s going to cost you money.
Some reasons for forgetting to follow up could include:
- No system. Following up on sales leads is very important and like your accounts or your diary, there needs to be a simple system to keep in all on track.
- No CRM. A Customer Relationship Manager makes following-up really simple. By simply adding in the right information and adding tasks to follow up and processes of how and when to follow up based on the type of lead, you’ll soon be converting more business.
- No track. If you work in a team then following-up can be tricky if you don’t all know what you’re doing. Having a clear sales pipeline ensures everyone knows what stage your lead is at.
- No follow up actions. Even the best systems in the world needs your input. Set the actions that you need to perform to follow-up your sales leads and make them specific, dated, and more importantly – visible to your team or yourself.
- No reminders to follow up. Life and business are busy and we’re inundated with messages and information all day. Having simple, timely reminders to follow up and the right times with the right actions makes your sales leads feel special and your business more profitable.
A system like Sales Radar helps you stay on top of your sales leads and follow up long past that fifth converting touch point. It also stops you letting your customers down.
Stop letting your prospects down. It’s your job to remind them about you, and it’s your job to do what you promised you’d do. We’ve all had a situation where we were promised a call and it never happened, or that email that never surfaced. And we don’t look on those forgetful businesses very favourably!
Don’t let your prospects down – make them feel special and remembered…
It takes five asks to get a ‘yes’ on average and having a system in place to help your follow-ups dramatically increases your chance of converting those sales leads you worked hard to generate.
If you need help creating a system to make your sales leads and future customers feel special enough to say ‘yes’, then get started with SalesRadar for free now.