In the recessionary economy which we all find ourselves in today, you’d think that most salespeople and businesses would be fine tuning their follow up skills with not only their existing clients but especially with their interested prospects. Unfortunately, more often than not, this is not the case. Regardless of the industry, product, service, big ticket item or small purchases, it’s stunning to me how little businesses follow up with prospects and even customers. They’re missing a fortune because the follow up is rarely done or non-existent.
Here are some amazing statistics related to sales that should inspire you to crank up your follow up efforts within your business:
- 48% of sales people never follow up with a prospect
- 25% of sales people make a second contact and stop
- 12% of sales people only make three contacts and stop
- Only 10% of sales people make more than three contacts
Now here’s the case for following up with prospects:
- 2% of sales are made on the first contact
- 3% of sales are made on the second contact
- 5% of sales are made on the fourth contact
- 80% of sales are made on the fifth to twelve contact
Ask yourself this question, how much do you follow up on referrals and prospects? I’m certain most companies can improve on the number of contacts they make. I’m a big believer in developing a formalized process to stay in touch with prospects that didn’t convert immediately but still have a high chance of converting down the road if you stay in touch with them.
I recommend you print off this blog post and highlight the statistics in yellow and place it near your work space as a constant visual that follow up is where the fortune is made.
To put my sales cap on, Johnson Direct and our team of professionals can assist in developing such a formalized follow up process! There are many channels/tools to help you stand out, keep top of mind awareness and close more sales. These tools include an e-zine or e-newletter, creating a series of touch base postcards, utilizing social media such as LinkedIn, Facebook, blogs and YouTube, and holding a special customer appreciation event.
Remember that for each month that goes by without some form of communication to existing customers and prospects, 10% of top-of-mind awareness for your company disappears. People are buried with choices, media and aggressive competitive offers trying to lure them away from your business. Developing a sound formalized follow up process will help you create what my friend Tony Rubleski calls “Mind Capture” and assist you in winning more business!
Director of Business Development