48% of sales people never follow up with a prospect.
25% of sales people make a second contact, then stop.
12% of sales people only make three contacts, then stop.
10% of sales people make more than three contacts.
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.
Yet if you analyse the top sales performers, you will notice a common thread, tenacity and perseverance. These stars know that it takes multiple contacts to secure a sale, and they have developed unique processes to cater for this.
In marketing this is commonly referred to as the "Law of 29", where it is anticipated that a prospect may have to view your marketing message 29 times before they transact. This may be excessive, however if we view the above statistics we see that 80 percent of sales are concluded after anywhere between 5 and 12 contacts. The number isn't important, except to grasp that you need to have a strategy to deal with multiple contacts.
So don't go splash some money on a one time advert. It is a waste. Rather develop an ongoing strategy, where you use a low cost, interactive technology to coax your prospect towards a sale. Why use technology you ask? Well it becomes an impossible task to manage a growing list of prospects, each with different communication requirements and needs.
By the way, I say interactive because unless you are gathering information, and responding accordingly, you will never be able to determine when your prospect has a need.
So, in a nutshell, expect to contact your prospects multiple times. Develop a series of messages, what I call a Sequence™, that are timed and triggered (more on this later). Use multiple mediums, instead of a repetitive and tedious one-way newsletter e.g. fax, sms, snail mail, cards, website and phone calls. But also know when enough is enough; I reckon if you haven't closed the sale after somewhere between 5 and 12 contacts, you probably aren't. So pick a cut-off, say 10 contacts, then call it a day with that prospect.
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