Every Sales Team Would Like to Convert Sales Leads Faster Your sales conversion rate measures the effectiveness of your sales team at turning sales leads into new customers. It measures how often your sales reps are turning prospects into real business. It’s a critical metric to help evaluate the quality of the leads and the effectiveness of your sales follow-up.
A Tricky Business Following up on leads takes perseverance, tact, preparation, and skill. Here are 10 tips to convert sales leads faster based upon feedback from thousands of business sales training participants.
Don’t Delay Follow up with leads as quickly as you can. Most research finds that up to 50% of leads work with sales reps that follow up with them first. New sales leads grow cold surprisingly fast. You want to make the connection with your prospect while the lead is still warm and before the competition steals your thunder.
Have a Purpose and Provide Value Be ready to articulate a compelling reason for reaching out and to bring special insight to the interaction. Don’t reach for the phone until you have enough understanding of your prospect, their business, and their needs. They want to know you have done your homework, understand their situation and priorities, and intend not to push your agenda but to help them (and their company) be successful.
Clearly Differentiate Your Service and Yourself What is it you provide that others can’t? Make sure your prospect is clear about the differentiated value you offer. With each interaction you should gain some knowledge that can help your solutions to be more relevant and valuable.
Respect the Complexity Yes, you will want to deepen your relationship with your first company contact. But don’t fall into the trap of thinking the buying decision rests solely with them. The larger the organization, the more complex the buying process. Do your best to understand how the buying decision will be made and who else you should be talking to.
Create a Follow-up Schedule Be smart and sensitive about how often and how frequently you follow up. It’s a fine line between being on the spot when the time is right and being an annoyance. Technology can help remind you when to reach out to a contact and track each touch point.
Communicate According to the Customer’s Preference Some people prefer emails as a mode of communication; others would rather get on the phone to talk about possibilities; and a rare few want the face-to-face meeting to assess the value of your solution. Adapt your communication channels to what the customer prefers.
Chart Specific Talking Points and Take Notes Plan each approach by setting out specific goals and talking points. What do you most want to cover? Make your message count and clarify who is to take the next step. When the call is over, take the time to jot down what you learned and what comes next.
Partner with Marketing Work closely with marketing so they have a better idea of the leads that are productive and what support materials would help you be successful. Make smart use of relevant client testimonials and case studies. These can provide proof of your claims and will bolster your position with the prospect.
Don’t Neglect the Data Technology can provide lots of useful data to inform what you’re doing well, where you can improve, and which prospects are most likely to end up as customers. Take advantage of all you can learn.
Be Selective Perseverance can be an asset, but it can also, when carried to an unreasonable extreme, be a waste of time. Don’t pursue prospects when it is clear they have no interest in what you can do for them. As you reach a dead end, send a note to explain that, for now, you will no longer reach out to them but stand ready to help when the time is right.
The Bottom Line Increase your chances of success by following the tips above. And watch your conversion rate increase lead by lead.