Recently, I discovered shocking sales statistics that report that 44% of salespeople have an 80% probability they won’t close the sale. The reason is 80% of sales require five or more follow-ups. The problem is 44% of salespeople give up after one follow-up.
This is shocking to me because I hear clients complaining their sales are down, they are starving for new business and looking for new ways to get clients, but at the same time, they aren’t closing the perfectly good leads they have because the lack a reliable system to ensure they following up, building relationships and closing sales.
In this article, I offer three ways you can follow-up more often and for longer periods of time (like a BOSS) with confidence and finesse, despite distractions and workload WITHOUT feeling like a pest.
Definition: Like a Boss – with Confidence and Finesse! (not the Saturday Night Live skit!)
- No-time – need a plan; valuable content, sequences, automation, templates, etc.
- Feeling like a pest – see #1 provide value
- Getting attention – use Jedi mind capture to get and keep attention
What is Follow Up?
Keeping in touch after an encounter in a variety of ways usually via multiple media; i.e. handwritten or typed letters, cards and packages, emails, newsletter, eletter, phone calls, faxes, face-to-face visits, events.
Why Follow Up?
- 44% of salespeople give up after one follow-up.
- 80% of sales require five follow-ups.
In other words, 44% of salespeople have an 80% probability they won’t close the sale.
- 63% of people requesting information on your company today will
- not purchase for at least three months – and 20% will take more than 12 months to buy.
- 50% of leads are qualified but not yet ready to buy.
Real Life Example – Follow-Up Works
We got an email from one of our Ultimate Mastermind Group coaching clients, Tom Trush, today sharing the results of a campaign he mentioned during our training last month.
Tony & Paul,
I hesitate to tell you this because it almost seems unbelievable …
I saw your topic for tonight’s UMG call is follow up. Last month, when you had me on, I told you about a client’s campaign in December where we did outreach to upgrade current clients and get prospects who inquired — but never moved forward — to become clients. With just 3 emails, the campaign brought in $650,000. It was absolutely nuts.
Crazy thing is, with the same client, we just tapped the well again. You see, April 11 was Be Kind to Lawyers Day. So we created an email campaign around the holiday and only targetted lawyer prospects who inquired but never moved forward. Basically, we just followed up and gave them a time-sensitive, highly compelling offer.
The follow-up campaign involved just 4 emails (3 sent on the same day) and generated $215,000 in only 12 hours. Again, all we did was follow up with the people who had inquired about my client’s services but never moved forward.
I bring this up because it ties so well into what you’re sharing tonight. If people aren’t following up with prospects who inquired but never moved forward, they’re missing out on a bundle of bucks.
I’m sure you’ll preach it tonight, Tony & Paul! Go get ’em!!!
The Biggest Problem
- Remembering to follow up with so many distractions
- Getting Attention or mind capture
- Knowing what to say or send e.g. content afraid of being a pest
3 Secrets of Follow Up
- Use Sequences – I learned this from my Product Launch Formula mentor, Jeff Walker. He uses sequences and several strategies and tactics to launch multi-million-dollar product launches. We are just borrowing from him and from the collections industry. Ever receive a collection letter? Enough said!
- 3-5 touches
- spread 1-5 days apart (depends on sales cycle)
- Using multiple media channels is best e.g. mail, email, phone, text, re-targeted ad
- Theme (mind capture)
- it’s not about you
- SOV Your before and after grid -> informs copy, emotion, theme
- value proposition
- Automation or at least a system – Businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads [Source: ANNUITAS Group]
- The best way is to use a CRM with integrated email
- Or use a manual “tickler” file system, file folders, calendar or Franklin planner
- Use CRM or Evernote to track clients and conversations
Three Ways to Put These Ideas into Action
- Write out the steps and timing of your follow up messages
- Write down each step and the exact communication, refer to the previous communication in each step – like a collection letter sequence
- tip, you may need to map out different follow up stages to match the sales process of each your products.
- Define a theme and statement of value for the prospects e.g. Bank Bag grabber, take it to the bank theme
- Remember, it’s not about you or your product, it’s about them and their transformation
- Put together a tracking and reminder system to make sure you remember to follow-up (this should be #1)
- CRM is best
- Tickler File Folders or Day Planner organized by day, month, year
- Review each day and work your plan
The bottom line is to put your follow up process into action. To get more detailed on your specific follow up needs, schedule a coaching call with us.
About Paul D. Guyon
Paul Guyon is the former Chief Information Officer of a $53M international logistics firm, DSI. Today he teaches small business owners how to create and implement systems and technology that enables ordinary people to produce extraordinary results. Mr. Guyon’s clients have managed up to $13 million in business with a department of just five people.
He invented a new market category to streamline the delivery, invoicing and payment of lost bags for Delta, Northwest, American and United Airlines. Thereby saving the airlines millions of potential lost customers whose precious luggage was ‘separated’ from them. Paul’s delivery management systems save millions of dollars for pharmaceutical giants, Pfizer, Merck and Eli Lilly.
Guyon makes his home in Traverse City, Michigan and enjoys and active, healthy lifestyle with his three sons. He has a passion for business, music, drumming, community service and his faith in God. Guyon says, “Any day I get to spend with my sons is a good day!”
To connect with Paul, visit his website; www.PaulGuyon.com