Many sales professionals are adept at maintaining long-term relationships and building repeat business from clients they already have. But, it’s the objective of every business to maintain existing clients and also to create new customers and sales. This requires finding a source of sales leads and then turning some of them into new business.
Key Points for Sales Leads
There are a few key elements when you are beginning to working on developing leads.
1. Every lead is precious. Don’t dismiss it quickly.
2. Be aware of each lead. Salespeople make assumptions about the prospects of every lead, based on whether the person is likely to purchase or if they’ll be attracted to our products. Unfortunately, customers who prove to have enormous spending don’t have an inscription with their names on them! Make sure you follow up with every lead until you’ve got concrete proof that this is not an opportunity.
3. Consider yourself being in competition with a very skilled Salesperson rather than an opponent. If the lead is genuine, they are likely to purchase from someone else. Are they going to be you, or will it be the other person who wins the deal?
4. Decide how you’ll work with leads efficiently and develop an effective personal management system.
It’s a numbers-based game The higher the number, the more successful the sales Person! But, when managing leads, it’s best to think about conversion rates rather than figures that are flat. The reason is quite simple. Consider two salespeople who have ten sales and the other with 20 sales within one week. At first, you might think that the salesperson with 20 sales is more successful of both. But you will find that she had contacted 100 people to get those 20 sales, whereas the first salesperson only made contact with 20 people to earn his ten sales.
The salesperson with the 50 percent conversion rate is the best salesperson. Actually, the salesperson, who has a 10percent conversion, could be considered a liability. It is better to provide his leads to your great salesperson. This is a way to take a look at yourself as a lead.
Determine how you’ll manage each lead batch and establish your goals regarding conversion rate. You should set a goal of —
What is the number of leads you’ll change into contacts
What is the number of contacts you’ll transform into clients
Managing your Sales Leads
To efficiently manage leads, it is helpful to use a system known as The Sales Cycle. The model outlines the stages that lead us to the advocate.
2. Contacts – we get in touch with the decision-maker may be via a phone call or a casual conversation
3. 1. First Contact Meeting Our first sales presentation meeting in which we establish rapport and establish the needs, then present our product and hopefully, make a sale
4. Active Prospect – we’ve been in contact with the prospect, and they may decide to buy, but they haven’t decided yet
5. Client – The client purchases from us
6. Advocate – The client is so happy that they’ve recommended us to their friends
The goal is to focus on each stage to improve the efficiency and conversion rate in sales. The more leads that we convert into contacts, the greater the potential pool of leads we can use to work within the following phases. The rates of conversion for work are different for each stage within the sequence.
Enhancing the Conversion Rates of your business
We can improve our conversion rates throughout the Sales Cycle by making use of our techniques, tracking and recording systems, as well as effective strategies for motivation. Most importantly, every successful salesperson plans how they can improve their performance every week and throughout the year. In addition to managing their regular daily tasks, they concentrate on areas of improvement, so they’re constantly growing their capacity.
As an example, you can focus a week on improving the initial stage in the sales cycle by creating more contact through your leads. Choose a specific time for making appointments. Make a list of contacts’ names, telephone numbers as well as any other details you’ll require to conduct an effective time of calling. Make a goal of how many dials you will make or contacts or appointments you have made. Find out how you’ll inspire yourself to continue until you have reached your goal. After you have completed the call, take a look at your performance and use this information to determine your next call.
The following week will be spent working on improving your recording as well as tracking process, and the goal of making it easier to convert the Active File to Clients. A successful sales professional is never satisfied with his job and always striving to keep increasing.