Business owners and sales managers are stressed about sales. It’s natural. We all want to make sales and generate profits. Stress is generated by low conversion rates.
When you convert 20% vs 10% of your leads, you are more profitable and have less stress. What are good ways to increase your conversion rate?
Approaching Sales
Owners and sales teams are spread thin and don’t have time to reach all prospects nor guide them to close. Often, they:
- Meet people who are not qualified prospects.
- Reach out once.
- Maintain lists and notes that are not organized by prospect or client.
- Spend a lot of time on repetitive, manual emails and tasks.
Often, they suffer from inconsistent follow up, want to build their pipelines, and the result is stress.
Changing Conversion Ratios
What if you met 50% less people and kept your current conversion rate? Your rate doubles and you save a lot of time.
If you currently meet a lot of people who aren’t real prospects, your marketing and sales functions are not aligned. Narrow your focus to your ideal prospects as your 1st step to increase conversions.
Good Ways to Increase Conversions
Conversion strategies depend on what you sell, its sales cycle, and your buyer’s characteristics.
Since buyers hate to be sold but love to buy, your lead management actions will influence your sales conversion rate. Here are some best practices:
- Rank your prospects and referral sources and spend time with your A&B prospects.
- Reach prospects on a consistent basis using high touch, high tech actions.
- Track your prospects by milestone.
Effective lead management produces more sales with less follow up fatigue.
Who Is a Very Important Prospect (VIP)?
You’re A&B prospects and referral sources (A&Bs) are your VIPs. How do you know. They have a need, authority, budget, and short timeline. A business that is 12 months from a decision gets a lower rank than the business that is 2 months from a decision.
Moving VIPs to Close
What are the milestones that a buyer reaches in your sales cycle. Is it a demo or proposal request? List the stages a buyer passes as it moves to closing and track prospects in a sales funnel.
As your prospects achieve each milestone, their rank and your personal interaction with them increases. Support your interaction with relevant content triggered automatically.
It’s A Lot to Manage
It sure is and you shouldn’t do it on your own. Use a robust CRM to support your marketing and sales actions and you will close more sales with less effort.
Use your CRM to:
- Trigger outreach by prospect rating.
- Streamline marketing and sales actions.
- Track prospects by milestone and trigger outreach based on sales funnel stage.
Most salespeople spend too much time with the wrong people and complete too many manual, repetitive tasks and emails.
Use your CRM to free yourself from the manual drudgery of sales so you can spend more time with your VIPs.
Want Less Stress and More Sales Success?
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