TIME TO SAY “NEXT”!
Another title for this blog may be “Know when to move on.” This is an issue that is of critical importance to small business owners.
Let’s take a look at the sales process. Small businesses have a product or service that they have to “sell” in order to generate income. There are volumes written on the subject “How many calls do you have to make to generate a sale.” If you go with the majority, the suggestion is that it takes an average of 8 calls to make a sale.
Today small businesses have several options when a sale is directed to a specific potential buyer. They include using the telephone, sending an e-mail, using a form of social media or using snail mail to send marketing literature. Each of these methods is time consuming but in my opinion, more effective than doing a general marketing blitz. While it costs more and takes more time, the direct sales method is more productive. The question is, “When should one give up on a prospect and move on to the next?”
Because a direct contact approach allows you to create a more intimate relationship with a prospect you will know almost immediately if the prospect is worth pursuing. Unless you receive a direct rejection, chances are you want to continue the relationship building process. The following are my suggestions as to how to proceed if there is a possibility of a sale.
- Using your first contact as number one, I recommend that the personal outreach should not exceed another 3 touches. If a sale has not occurred, stop the time and cost expense of personal touches. (Please note that we have not addressed the content of the second thru the fourth sales effort.)
- Four is the magic number! If after four personal contacts a sale has not occurred, then the lead is added to your automatic drip system where monthly contact is made by means of a “value based” newsletter sent either electronically or by snail mail.
The bottom line is: If you have a choice between talking to someone new and talking to someone who has consistently failed to play ball with you, talk to someone new.
I want to once again stress the importance of having a direct contact marketing approach as part of your overall marketing plan. Yes, your website is important as are your blogs and social media posting. In those cases you are hoping someone will read your information and be motivated to call you. If you can make it a habit to reach out every day to at least four (4) new direct prospects, I promise you will see an increase in your overall results.
————————————————————————————————————————–
Tips and Advice by Nick Petra, CFP and Founder of BizQuack and Strategic Duck.
Comments are closed