Convert More Leads to Sales, Faster
Lead generation for your business is great. Converting those leads to sales is even better and obviously profitable. So many businesses put so much focus on generating leads that they ignore the conversion process of converting leads into new customers or clients. As my mentor Brian Tracy once said, “the money is in the follow up.”
At Cornerstone Business Advisory, we group leads into three categories. Below are the categories and the best practice in how to follow up with each group:
- Hot leads: These are prospects that have an expressed a strong interest in working with you. This requires a personal touch that includes both a personal phone call and a personalized email from your own inbox.
- Warm Leads: These are prospects that have expressed some interest in working with you, but are not quite ready to meet with you. The follow-ups with warm leads are less frequent than hot leads yet still require a personalized touch. These leads need to be further educated on how your company can add value to their life.
- Cold Leads: These are prospects that have expressed a mild interest in either working with you or are interested in learning more. The best approach is a weekly email that educates your leads on how your company can add value to them.
In addition to leads, many businesses forget about the people right underneath their noses: active clients and inactive clients. Active clients are those that current engage you in the products and services you offer. Inactive clients are people and/or organizations that have bought from you in the past, but are not engaged with you currently. By simply marketing to active and inactive clients, we have seen companies grow their sales 18 to 22 percent without spending a penny on marketing.
Once your leads, prospects, active clients, and inactive clients are interested in meeting with you, our team will work with you to develop the following sales conversion process:
- Discovery: Selling is not telling. Selling is about asking questions about where they are now, where they want to be, how fast they want to get there, and what they would expect from you.
- Making Effective Presentations: Most sales are won or lost during the follow up process and discovery process. Once you understand the prospects business case during the discovery phase, the next step in the process is to show them how your product or service can help them solve their business challenges.
- Overcoming Objections: There are only 7 objections as to why a prospect chooses not to allow you to help them solve their business challenges. Overcoming Objections is the process in which you address the spoken and unspoken concerns.
- Asking for the Order: Sixty-eight (68) percent of sales people never ask for the actual business. Asking for the business should be a natural progression in the sales process assuming you understand the prospect’s challenges and objections and can clearly demonstrate how you can add value to them.
- Referrals/Upsells/Cross-sells/Down-sells: Many businesses almost forget about the clients and customers that bought from them to go after new business. After the outside sales process is complete in earning new business, it is now the inside sales team’s job to follow up with them, ask for referrals, and educate clients and customers on other products and services that would beneficial to them when the timing is correct.
Schedule a call with Charles Alvarez, the CEO and President of Cornerstone, to discuss how to make your team productive so that you can start seeing more money go down your bottom line.