People Buy When They Want To Buy – So How Can You Make Sure They Buy From You?
Did you know that 8% of sales people get 80% of the sales? ‘Sales people’, by the way, includes anyone who sells for their business, and that includes you. The business owner, the marketing manager or director, the sales exec.
If your job is to increase sales, chances are you’re in the 92% who don’t get the sales.
I’d like to help you change those numbers and put you in the minority.
Let me restate a set of stats you’ll definitely have seen before if you’ve read my emails:
- 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 third contact
- 10% of sales are made on the fourth contact
- 80% of sales are made on the fifth to twelfth contact
And this set:
- 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
So more than half of all sales people never get past the first contact. That’s crazy.
Those 2% of people who do buy on the first contact have usually done a lot of research and they know exactly what they’re looking for. If everything about you sounds right when they find you, they’ll buy.
But anyone basing their business model on serving only that 2% of people is bonkers. So what about that other 98% of people? What’s missing? Why aren’t they buying?
The big thing is trust, but I’ll come back to that in a moment.
Trying to sell to people cold is just about the most difficult thing you can possibly set out to do. Leaving aside trust for now, there’s a whole bunch of other stuff you must overcome: inertia. Laziness. Distractions. Lack of time, concerns about cost, cashflow problems. Budget constraints. More important or interesting things coming along and taking attention. Your indifference to them as a customer.
You name it, it’s a reason for not buying.
All of these, by the way, are psychological realities. The fact that they’re not buying from you right now isn’t your fault.
Except your indifference to them; that is your fault, if that’s the case.
But the other stuff?
It doesn’t have to prevent them from becoming your customer. There is something you can do about it.
Here’s a truth: people buy when they’re ready, not when you want them to buy.
You can’t make people buy something they’re not ready to buy. It’s not possible. And you can’t sell stuff to people who don’t know you, like you, and trust you.
What you’re about to learn will nullify both those problems just like that.
The Five No’s Follow-Up Strategy.
If you have a CRM system this will be pretty easy. If you don’t have a CRM system, you can do it with a spreadsheet and meticulous record-keeping. However, I strongly recommend investing in some kind of CRM software so you can easily track people’s behaviour, responses, interests…
So, how do you set up a Five No’s Follow-Up Strategy?
It’s a simple step-by-step process.
Put together a contact plan for your customers. Include a mixture of direct mail, email and phone calls. Contact your customers at least once a week, and do it at least five times – but I’d recommend more. Twelve, if you possibly can.
Send letters, postcards, gifts, emails and phone calls.
It will pay off.
And if you really feel your budget can’t stretch to that, set up a series of emails and send them every day.
Remember: people buy when they are ready, not when you want them to buy.
If you’re always in their inbox, on their doormat, or at the end of the phone, who are they going to think of first when they’re ready to buy whatever it is you’re offering?
Yep: you.
If you’re not in their inbox when they’re ready, they’ll buy from someone else. Someone who is paying attention.
Put your plan together today.
Incorporate some great branded merchandise and make sure you stay in your customers’ faces as often as possible.
Be helpful, friendly, and build up trust – because once someone trusts and likes you, you’ve got them as a customer for life.
Not sure where to start, and stuck for ideas?
No problem: click here. I’ve put together a set of great products that’ll give you plenty of ideas and help you kick off your Five No’s Follow-Up Strategy.