It’s fact that over half of all sales occur on or after the fifth contract. If you’re only doing one or two follow-up, consider all the business you’re losing. Failing to follow up on your sales prospects is about as productive as filling a shopping bag with a hole in it!
Consistent follow-up creates a predictable and profitable stream of sales prospects, businesses that do so experience higher conversion rates and a higher percentage of sales referrals than those who don’t. Most businesses that fail to follow up on potential sales claim they do not have the manpower to do so. If proper systems are set in place this problem can be easily rectified. A good follow up selling system should have three attributes:
• It should be systematic • It should generate predictable, consistent results. • It should be able to run on autopilot
To most, this idea seems too good to be true yet with modern technology it’s actually quite simple. Automating your follow-up processes gives you more time to work "on" your business rather than "in" your business. The secret to success is the last point, that it works with as little physical interaction as possible.
There are three types of people you should aim to follow up on:
• Those in your target market • Those who have responded to marketing, but are yet to purchase, • And those who have already purchased
Follow up messages will differ slightly, depending on who they are aimed at. Existing and satisfied customers will obviously be easier to follow up on then those who are merely in your target market as you already have their contact information, and may even know them personally.
The key tools you’ll need for follow up selling are the telephone, email and post. Many companies come off a little pushy by jumping straight on the phone pressuring those who have responded to marketing into making a purchase. However this can actually push prospective buyers away, as most are apprehensive of pushy telesales people. A better idea is to try building a relationship with the prospective buyer by promptly sending them information via email or post.
People tend to move slowly through the purchasing process, your aim should be entice them to take the next step as opposed to pushing them.
Always link each follow up by using a sequence, each attempt of communication should build on the previous. This lets the prospective customer know that you as a salesperson care enough about their business to continue correspondence. For instance you could include; ‘you may have received a letter from us 10 days ago...’
Putting your Follow-Up Selling System on Auto-Pilot
The key to this practice is to ensure there is very little, if any, physical interactions between employees and the system. To do this it must be automated as much as possible. To automate your follow-ups you should consider using robotic marketing systems and outsourcing any manual interactions to a dedicated service.
For example, to secure your leads you should contemplate using a toll-free automated recorded message system that captures your potential customers contact information and automatically copies it and sends your leads to you in a spreadsheet every morning through email.
The best idea, however, is to use a postal follow up system. If you opt for this method it is a good idea to use a fulfilment house to do the mailings for you. Details of a fulfilment house in your area will be available from your local printer. You can then have your leads automatically sent to your fulfilment house, via email, meaning there is very little physical involvement needed at all. The same can be done through an autoresponder email account.
Now your potential clients are aware that you are interested in their custom, and have all the information needed on the products you have to offer. You have equipped them with information on how you’re different and what your value proposition is, so this is the time to call.
Follow-up marketing will boost your sales closing rate and dramatically increase your customer satisfaction. You have already coaxed potential customers into doing business with you, now all that is left is a phone call to seal the deal.
Certain prerequisites are required. For example the business should firstly examine its most profitable existing customers to identify what they have in common, or in other words build a profile of potential new business prospects.
Armed with this valuable new customer profile, you can then identify sources
of data for these potential new prospects, such as quality lists or databases.
Then comes the devising of the new business development strategy, usually based on one of the following forms.
1. Selling Existing Products and Services to New Customers The first, and simplest, way to target new customers is with your existing products or services.
Your sales team will already have proven experience with them, and know how to overcome objections and promote the key benefits. You may also have existing promotional material available which can be used in mailings or at events.
Because of successful your track record with existing products, you'll also have a range of more tangible benefits to communicate to potential clients. You can even draw upon existing customer testimonials to help build credibility amongst this new audience, who may not have an prior knowledge of your business or brand.
Finally, your operational activities are all in place already to start selling the same products with ease, ensuring that you can deliver good customer service to hard won new clients.
So unless there is very good reason not to, always start out a business development programme with what is already available: your existing products and services.
2. Selling New Products to New Customers In some cases a higher risk strategy may be required. It may be necessary to create new products or services for promoting to potential new customers.
This can be the case if, for example, your existing market has reached saturation, or perhaps your current industry sector has been affected by circumstances beyond your control. It may also be the case that your products have been surpassed by new developments in the marketplace or new technological innovations. In such situations the business seeking to continue growth can be left with no option but to risk all on new products for new markets.
Embarking on a new product development programme as well as a new business
development strategy is a task which should not be underestimated in scale. However a well organised business, with good management in place driving progress, can achieve success.
Both Sheila Mulrennan & Z.pduvedi are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Sheila Mulrennan has sinced written about articles on various topics from Time Management Skills, Sales Training and Customer Service. Sheila Mulrennan from Professionaldevelopment.ie specialises in writing articles relating to Personal Development Training, Communication Skills, Prfesentation Skills and . Vi. Sheila Mulrennan's top article generates over 12100 views. to your Favourites.
Z.pduvedi has sinced written about articles on various topics from Site Promotion, Entertainment Guide and Income Opportunity. For more useful tips & hints, please browse for more information at our website :-. Z.pduvedi's top article generates over 6600 views. to your Favourites.