According to IRC Sales Solutions only 2% of sales are made during the first contact point. This means companies could lose 98% of their sales contacts if they don't follow up.
The success of a distribution depends on how well we do business. Success in sales means increasing the number of registrations with both new and old customers, which has a positive effect on the bottom line. The key to this is a strong follow-up plan to get prospects on board.
As the number of follow-up sales increases, so do the chances of a successful sale according to the IRC Sales Solution. Therefore, only 3% of potential customers sign up on the second contact and 5% say yes on the third try. Surprisingly, 80% will buy into the sales pitch after the fifth or twelfth contact. This underscores the importance of f as as critical to your marketing strategy, which must not be overlooked.
This means that the frequency of contact with your prospects determines how quickly they will make a purchase. C Through constant contact you can better understand the wishes of your customers and then find ways to reach them.
R egular follow-up gives customers a chance to be heard and effectively connected with them. In addition, the constant contact helps customers keep you in mind when they have a need that you can meet. In fact, e existing customers who receive follow-ups are more likely to opt for new offers than customers without follow-up.
According to IRC Sales Solutions, fear of rejection or a difficult / non-existent sales process are the main culprits why salespeople never approach potential customers. A sales process helps sellers guide customers through a number of steps, from creating awareness to making the final purchase. It's an ongoing process of engagement that helps customers make a buying decision.
The study also suggests a lack of persistence as a factor in not addressing potential customers. In particular, if emails or phone calls are ignored, 44% of salespeople throw in the towel after just one try. A small part (only 8%) of the sales force wins more than five times.
Another factor for the low lead success is the lack of a quick response. Research by the IRC shows that sales reps who receive a lead within five minutes are nine times more likely to convert it. Between 30 and 50% of customers would buy from providers who respond first.
From the company's perspective, a poor sales onboarding program can lead to poor follow-up. Good sales onboarding programs can help new sales reps get productive an average of 3 to 4 months earlier than companies with underperforming programs.
There are a number of sales tracking statistics that demonstrate the fact that tracking your prospects is built into your sales process should be. For example, only 3% of your market is actively buying at any given time. Another 56% are not ready yet, while 40% are ready to start. This means sales reps will have to be persistent and keep getting involved if they don't get a nod on the first try.
Studies show that an average of 42.5% of salespeople take 10 months or more to become productive enough to contribute to the company's results. This is after an average of 10 weeks of training and development. Most salespeople spend a third (34%) of their time actually making sales. Your remaining time is devoted to writing emails, data entry, research, planning, and training.
This doesn't mean they have it easy. In fact, the sales reps do an average of around 94.4 activities per day. These activities in turn lead to 14.1 conversions, 16.7 opportunities, and 3.7 deals. The average breakdown of their communication activities is 32.6 emails and 35.9 phone calls. 15.3 Voicemails and seven social media contacts per day.
During the first call and if customers are not making a purchase, the seller must schedule another call before ending the call. This opens up opportunities for future discussions in which you can influence customers.
To demonstrate your commitment, you need to send a calendar invitation for the next call and follow your pitch. This doesn't just mean that you'll be calling at the same pitch again. Rather, presented an optimized offer that could address customers on the second attempt.
Building rapport and persistence are critical to closing the deal. By talking to you, you will not only understand customers' needs, but also when they are more likely to make purchases. By tailoring your offering to their needs, you will help create value for customers and build lasting relationships.
Take a look at the rest of the data in the following infographic: