close and you’re easily up to 3 hours per lead or 150 hours per month. Let’s assume that you have a 20% overall close rate, so that means 10 out of 50 leads buy. So it takes 15 (150 divided by 10) hours of sales time to get a purchase.
Then when you know the questions and answers you’re looking for, you will be able to quickly disqualify people who do not fit into those criteria.
If you have a 20% closing ratio that means 80% of the prospects you invest time with don’t buy. That’s 40 leads getting 3 hours each or 120 hours of sales time spent on leads for no return, every month! So what about asking the right questions up front and stopping delivering time consuming and expensive presentations and proposals to leads that don’t pass the test? The good news is that this is not hard. The hard part is being consistent. It takes self discipline to hold your ground but it’s easier when you understand the costs in time and money for spending time with the wrong leads.
What does your target market all have in common? Is it an industry, a particular size company, in a particular area, maybe exporters?
There will be a period of trying things, learning and
10 properly qualified prospects are better than 50 unqualified any day!
So decide on a set of questions that must be asked for every lead. Make sure you know the answers to those questions.
adjusting, but perseverance will win in the end. You might get a bit discouraged because all of a sudden you’re not dealing with as many prospects, but that’s the whole idea - 10 properly qualified prospects are better than 50 unqualified any day!
Jean Barr is the Director of Top Achievers Sales Training and specialises in the area of cold calling and qualifying prospects. Visit her website at www.topachieverssalestraining.co.nz
NZSM / mar 4TH 2009 / 9