Digital Marketing Consultant. Entrepreneur. Storyteller. Investor.
With experience in marketing, technology, non-profit, and corporate, I help businesses bring their vision, dreams, and passions into reality.
Real numbers — obtained from robust surveys — have shown time and again that following up after initial contact with a prospect is vital to closing a sale.
Numbers show 35-50% of sales go to the first vendor to contact them when the prospect is ready to buy, and 42% of people feel encouraged to purchase if the sales rep has followed up the right way. This can be as simple as calling back at an agreed-upon time.
The Cost of Not Following Up
Not following up on a sales prospect is leaving money on the table. Only 2% of sales materialize on the first contact. The numbers do not improve much on the second or third contact, with only 3% and 5% of sales deals sealed, respectively.
It is only on the fourth contact that the number increases to 10%. However, four out of five sales occur only when the sales rep contacts the prospect between five and 12 times.
While these numbers speak volumes, numerous sales reps are either oblivious of the impact follow-ups can have on closing a deal, or they are simply reluctant to follow up multiple times — possibly due to repeated rejection or the fear that they are annoying the prospect.
If the prospect ignores their calls or emails, an estimated 44% of salespeople stop trying after just one attempt, while only 8% of salespeople will keep trying and follow up more than five times.
Giving up is counterintuitive to the way any market operates. At any given time, only 3% of any market is in its active buying mode. A large chunk, as high as 40% of the entire market, is poised to make a purchase — not now, but soon.
This is the segment that you onboard slowly and gradually over time through subsequent follow-ups, because at any moment that prospect could be ready to buy, and you want to be the first salesperson they talk to when they are.
How Do You Follow Up?
While following up is clearly essential to any sales methodology, how do you do it the right way? First of all, speed plays a crucial role. You are nine times more likely to convert a lead if you follow up within five minutes.
At the end of your first contact with a prospect, schedule a follow-up. If your first call ends on a conclusive note with your next call already scheduled, immediately send out a calendar invite for the follow-up call, along with a follow-up email that summarizes the discussion you just had and explains future proceedings.
Twenty-four hours before the follow-up call, send an email with call-in details.
If you don’t schedule a follow-up call on your first contact, still send a follow-up email with a summary of your first call and your prerogatives for the next call. Be sure to mention the hurdle that kept you from scheduling the next call on your first call. End the email by saying you will be in touch soon to arrange your next call.
Taking the right follow-up steps at the right time will help you close the sale, but it takes patience and persistence. Here is an infographic that further explains the importance of following up and the right way to do it.
What is SEO and how does it work? SEO stands for Search Engine Optimization. The easiest way to explain its importance is by showing business owners the first page of Google after a search. The websites listed first are those that have invested in SEO. SEO determines where your website will fall on the list of page results. Obviously, everyone would like their business to be one of the very first options people see, but this takes work and intention. These results are built around four main areas: keywords, accessibility, relevancy, and authority. Your site must excel in all four areas in order for Google to recognize the importance of your site to the user and put your site towards the top of the results list. First page results don’t come without a good bit of homework and effort being put into them. You earn your spot. Want to know more? Take a look to find out more about what SEO is and how it works.
Podcasts are an ever-growing influence for today’s consumers. Don’t believe me? Take a look below at the latest stats fromPodcast Insights.Both the business and marketing worlds are taking notice. Some companies are taking the next digital step and creating their own podcasts to further ingrain their message and influence upon their customers. Is it time for your business to do the same? Take a look at what you need to create your own podcast.
75% of the US population is familiar with the term “podcasting” – up from 70% in 2019
50% of all US homes are podcast fans
55% (155 million) of the US population has listened to a podcast – up from 51% in 2019
37% (104 million) listened to a podcast in the last month – up from 32% in 2019
24% (68 million) listen to podcasts weekly – up from 22% in 2019
16 million people in the US are “avid podcast fans”
45% of monthly podcast listeners have household income over $75K
27% of US podcast listeners have a 4-year college degree
Click hereto see my other blog, “5 Marketing Podcasts You Need to Listen to in 2021.”
At this point, there are few businesses that fail to see the value of social media marketing. Although Facebook, Twitter, and Instagram have been the main focus for many years, other platforms such as LinkedIn, Tik-Tok, and Snapchat are continually expanding their reach. While the latter examples have a younger audience, LinkedIn has a large cross-generational reach due to its business nature making it incredibly valuable. More and more marketing dollars are being directed to this ever growing and active platform. Take a look below to see how LinkedIn has steadily gained traction and the attention of marketing departments everywhere.
Pricing is a balancing process for many businesses. If your set price is too low it may affect your profitability, but if your price is set too high it might limit customer sales. Optimizing prices involves analyzing data to predict how customers may respond to the price and how businesses can maximize profitability. Just a 1% improvement in price can increase operating profits by 11.1%. That being said, how can businesses begin optimizing their set price? If you are interested in learning more check out the accompanying infographic below. It provides a step-by-step guide for how to begin the process as well as what data can be used to help begin optimizing prices for your business.
This blog has been provided by my guest Jeremy Zielie. He is a content marketing specialist at Straight North, a national digital marketing agency.
Did you know that over 2 million blogs are posted every day? That’s a lot of competition for bloggers and businesses alike! There are some things you can do to make sure you aren’t wasting your time or marketing budget. If you want to make the most of your blog and be sure it doesn’t get missed in the hailstorm of the world wide web, check out these tips to make sure you have a killer blog post that gets noticed.
Effective leadership is paramount to the success of any company, yet so many people change jobs simply because they do not enjoy their manager. Why do some people work so well with one manager but not with others? That’s a loaded question with many different facets, but one big reason boils down to leadership style. There are several different ways to lead a team, and leadership means different things to different people. Compatibility with these leadership styles is often the real issue. Check out these 8 leadership styles to see if you can pinpoint which ones you would or would not get along with, and maybe think about which one you are or wish to be.
We were all hoping 2021 would be the year to see things return to normal, but with another round of Covid19 already making an impact, it looks like 2020’s trend of hybrid and virtual events is here to stay. Some people enjoy hybrid or virtual events because it cuts down on time away from home and/or the office, but others feel that these events hold no life and are difficult to engage with. So where do we go from here? How do you please the masses? How do companies plan for next year’s event? Take a look and see what trends and challenges businesses will need to overcome in the coming year to make their events a success.
As the delta variant of Covid19 picks up speed and effect, our world may quickly be reverting back to the hybrid workplace approach. This style of work is still new to many businesses, and although the pandemic has largely been a negative experience for most of us, it has also proven that productive remote work is possible for many who did not believe in it. As the future of the workplace continues to morph and develop, it is interesting to take a look at the past and see how far it has come already. Take a look.