Thursday, June 28, 2012

Do You Know Your Sales Process Cold?


Jake Sanders - How many prospects do you have right now that you have had your initial discovery call with but haven’t closed? My guess is 98%! Well, it’s not really a guess because according to FollowUpSuccess, only 2% of sales are made on the first contact.

So 2% of the time, a prospect is going to lay a deal right on your lap. Fantastic. Congrats. Btw...that is NOT sales my friend. That’s order taking.

Ok, well then how do you close the other 98%?

Following up is a great start, but the previous article also points out that 80% of all sales are made between the fifth and twelfth contact, meaning the first, second or even third follow-up just isn’t enough.

If you don’t know your sales process like the back of your hand, then today is the day to learn! Stop whatever you are doing right now, get out a piece of paper, and write down your company’s successful sales process. Keep in mind that your company may have multiple sales processes based on the different products/services it sells.

Once you have it written down in front of you, take a look at your pipeline and figure out where each deal is in the process and exactly what your next step needs to be. Call and follow-up to make sure the prospect received additional info, examples, proposals or proposal reviews. Finally, ask for the close and collect the money. There you have it.

Now that you know the true next step, you can handle it with confidence and get each deal moving in a positive direction. The key here is knowing exactly why you are following up and having that plan ready before you pick up the phone or draft the email. It sounds really simple and obvious, but the reality is that almost 75% of all salespeople will never make more than two attempts to follow-up with a prospect.

This means that simply knowing your sales process and executing the right steps at the right time already puts you ahead of the average joe salesman. That little bit of extra effort is what will propel you to close more deals!

Jake Sanders is the Vice President of Sales at Richter10.2 Media Group. For more information about Richter10.2, check out our introduction video here.

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