Increase Your Conversion Rate
Next time you attend an event like a home or auto show, stop and spend some time in the area where companies are selling accessories. Items like waxes, cleaners, this miracle and that miracle.
Take a few minutes and watch the people using the microphones. Yes some of them may seem "cheesy", but what can you learn from them?
One thing you will quickly notice is that they say the same words over and over again. The reason is simple; for while there are many good ways to sell their products, there is only one best way and the perfect script underpins it.
This microcosm of selling can be applied to any sales cycle for any product, service or industry. The only differences lie in the type and number of steps and the tools used to facilitate those steps.
The result of this approach is to move selling from an art to science. Leaving as little to chance as possible. We have all seen and/or heard the metaphor of the "Sales Funnel," but how many of us have taken the time to overlay our sales cycle onto this tool?
Take some time with the diagram that follows and list the steps in your sales cycle on the left. Once you have completed the task, go back and add at least three more. Why? Because selling is all about touches … the more touches, the greater chance we have of closing the sale.
Now, identify the tools necessary to support the steps in your sales cycle and enter them on the right being as specific as possible. These tools should include scripts, questioning scenarios, letters, purpose statements and any other tools necessary to make the sale. Next take an inventory of what you have and determine what you need to develop.
Make this an interactive process that includes testing and measuring your results. As you watch your leads progress through the various stages defined in the funnel, monitor at what point you are losing your potential customers. If you find your funnel being pinched at the bottom (i.e. you're losing more potential buyers than you should), re-evaluate the tools at that stage and adjust them accordingly.
By organizing the sales process in this way you can improve your conversion rate.
Knowledge + Planning + Referrals = More Profits!
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