No FT No Comment – Losing Sales?
No Follow through No Sale!
Just 2% of sales take place at first contact.
Generation X may remember that infamous Financial Times ad, though here I’m refering to ‘no follow through’ no sale.
Whether it’s media sales or any other, lack of follow through accounts for 98% loss. Not worth the risk.
Be Aware just 2% Sales at First Meet
It’s a myth that sales happen at first meetings. Research shows that just 2% of sales take place at first contact between two people. What makes that statistic authentic is tenacity with a sales process when prospecting. Sparking a face to face or phone conversation is just the start and it’s assumptive to close the sale on one interaction. View any sales training guide or the compelling Glengarry Glen Ross ‘Always be Closing’ … with caution. It’s impossible to close without following through on understanding the need and then matching.
And It Takes 5 Follow Throughs to Get to Yes
Experience and research shows it takes at least five continuous follow up initiatives after the initial sales connection before a client commits:
44% of sales people give up after one “no”
22% give up after two “nos”
14% give up after three “nos”
12% give up after four “nos”
So Follow Through is Your USP
Consultative sales professionals realise the impact of building trust through cohesive two way relationships and the power of follow through. Get in first and pick up on a conversation from a network meet or phone exchange and your prospect feels valued, even surprised, because you listened to them and then keep going.
From a human perspective, there’s a degree of manners, etiquette and integrity if we do what we say we’re going to … Robert Cialdini includes this in his principles of persuading and influencing that we are drawn to people who build rapport, and invest in reciprocal conversations. Re-connect and keep re-connecting until you gain commitment.