If I could only give ONE tip on what will increase a business owners bottom line and put more profits in their pocket, it is this: give your contacts a chance to say YES.
According to the National Sales Executive Association it takes five to twelve contacts before someone buys from you and 80% of sales are made after the 5th contact. The same goes for referrals. Additionally, 48% of leads that are pursued are dropped after one contact. And here is the depressing one, 67% of the people you meet will ultimately buy the product or service you are selling, from someone else.
Too often I see business owners give up before their potential clients have a chance to say YES, resulting in leaving potential profit on the table. Remember 67% of the folks are going to buy. It is a matter of whether it is from you (because you kept on top of mind) or a competitor because they happened to show up when the buyer was ready.
Business is a lot of dating. Women (and men) want to be courted, they want to get to know you before a commitment can be made. Yet, in business we are so quick to leap to marriage on the first date and then we wonder why we are still “single”. We make excuses “no one is buying in this economy”, “my market is saturated”, “if only I had a better website” and so on.
Give people a chance to say yes (or even a “maybe” or “no”) by letting them get to know you and by adding value to their lives in some way. Reach out regularly and in a variety of ways. This can take many forms:
• Phone call and email
• Newsletters blogs or other written media (just make sure you have their permission first, and getting their business card is not getting permission)
• Invitation to a webinar, teleseminar, or workshop
• Introductions to your contacts that are good referrals or partners
• Sharing articles, links that are relevant or interesting
• Nice to Meet You, Thank You or Congratulations greeting card
• Connect on Linked In (with a personal note)
Got a stack of business cards that you never followed up on? Don’t worry, we all have had this at some point in time and probably still do. It is not too late to pick up the phone, or send an email, a LinkedIn invite if applicable, and reintroduce yourself and your business. You can send a relevant article, or even a “your business card crossed my desk today and made me think of you” note! Who wouldn’t want to get one of those?!
Remember you have a gift and what you provide could benefit that person or someone they know.
Relationships start with a simple “hello”. 50% of the world is waiting for the other 50% to say “hello”. This week, be in the 50% that reaches out first!
Have a great strategy for follow up? Please share it here!
Miss part 1: 3 Tips You Can Implement NOW to Accelerate Your Business Growth? You can get it here.
Good thoughts.