Monday, September 20, 2010

Be Persistent and Stay Ahead of the Competition

In the age of Social Media and technology, it seems we have left the original technological advancement in the closet.  Well, we haven't actually left it in the closet, since we need it to text, e-mail, twitter and Facebook.  How much are we actually using our phone as a phone?  Much less then we should be in my humble opinion.  If you want to set yourself above your competition, make sure you keep the phone calls on your "to do" list.

Statistics and my own personal experience show that most people are not capable of making enough contacts to make a sale.  This is true whether you're a stockbroker, insurance agent, or artist.  If I were to hire 10 people to make 1000 calls, only one person will see the entire process through to make a sale.  Let's assume, I have done all the pre-marketing work through ads, e-mails, newsletters,  etc. etc.  Based on the marketing, I have compiled a list of 1000 people who have shown some interest in my product.  Now I need the 10 hires to call those 1000 people.

  • All 10 people will make the first contact.
  • 3 of the 10 will make the second call
  • Only 1 person will make the third call
The average sale takes 7 - 9 contacts to close.  This doesn't mean if you contact everyone 7-9 times, you'll get a sale.  The contact needs to express an interest in your product to give you reason to follow up.  Once the prospect gives you a reason to follow up, you need 7 - 9 more contacts to close that sale.  If only 10% of my salesforce is mentally capable of making the third call, you can see why most salespeople are struggling.  I hate to tell you this, but if you have a product and you need someone to buy it, you're a salesperson.

Here's the positive part of this.  If you're an artist in an ocean full of artists, it is very easy to differentiate yourself from 90% of your competition.  Add calling to your marketing.  Make the second and third call.  If a prospect or gallery has shown interest in you, do not be afraid to follow up.  They will say they are busy or some other excuse three or four times.  It is not a rejection, it's just one contact closer to the yes.

If you have a success story from following up, please share it.  It will help motivate people to make the call.

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