Did you know that the majority of sales leads and enquiries do not get followed up more than once (which could be why your business has a low conversion rate*)?
To improve your sales or that of your sales team, develop a system to regularly check where each one is at and when they were last contacted. If you hold sales meetings, doing it at the beginning or end of each month is perfect.
Here are some statistics that I'm sure you will find most interesting:
- 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 3 contacts and stop
- Only 10% of sales people make more than 3 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
* Your sales conversion rate is how many enquiries you receive vs. how many you convert into customers over a specified time frame. To calculate your sales conversion rate follow this simple formula
Total No. of Sales/ Total No. of Enquiries x 100 = Sales Conversion
e.g. 100 sales / 80 enquiries x 100 = 80%