Sales Prospect Management
Most of us understand the frustration that comes with losing a lead to a competitor after working so hard to attract them in the first place. This is a common situation, and sometimes it seems like there’s no good way around it. Despite our best efforts to keep leads engaged throughout the entire buyer journey, we sometimes lose touch with them along the way. Even worse, when we do manage to capture their attention until the end, we somehow manage to miss the mark when it comes down to talking business and closing the deal.
While it’s easy to attribute these types of results to bad luck, converting more prospects into customers is achievable with the right tools and tactics in place. The trick is to nurture and keep customers engaged along the way, be mindful about the way you approach marketing and sales, and make sure these prospects know you’ll always have their best interests in mind if they decide to convert into loyal customers.
Huge amount of money is spent by brands in marketing to generate sales prospects or leads. The dealership must have a strong funnel management system to convert the prospect into sales. Having an efficient pipeline is essential because making a sale in a competitive market is hard enough even when your funnel is well-optimized. Many organizations understand this and invest in a prospect management system, but the critical success factor is in making the Sales team to religiously use the tool.
You need to always be on the lookout for new opportunities to improve conversions, with new trends emerging every year, and the ever-changing user habits, something that was working just a while ago may not be as effective today. And even if you feel like you’re already converting at a decent rate, there’s always room for improvement – even a relatively small increase in your conversion rate could mean that you could expand your marketing efforts, reach a wider audience, and grow faster.
Studies reveal that almost 80 percent of sales leads require at least five follow-ups after the initial contact before a sale is made. If your Salesperson is doing one or two follow-ups, then you are losing out on most sales you could be making. You need to learn and implement the one thing that will dramatically improve your sales: a follow-up system.
Having solid follow up strategies will make you stand out from the dozens of other people calling the same prospects as you. But effective follow up goes beyond repetitive calling and emailing. The most successful follow ups deliver value by demonstrating strong industry knowledge and a deep understanding of the challenges at hand. Make the most of your follow ups and watch your prospects turn into clients.
STEPUP will help you to establish a sound follow up system that would dramatically change the conversion ratio and create a follow up culture across the Sales team that would become your competitive advantage.