When it comes to evaluating the effectiveness of your sales efforts, it’s tempting to point the finger at leads as the primary culprit when sales fall short of expectations. But here’s the thing – it’s not just about leads; it’s about the entire process. So, let’s dive into the nuances of reviewing your sales efforts, step by step, and see what really matters.
Leads: Quantity and Quality
The first piece of the puzzle is leads. Are you getting enough of them, and are they the right fit for your product or service? If you’re not seeing the leads you want, it’s essential to provide feedback to those responsible for generating them. Targeting your audience better can make a significant difference. However, this is just the beginning.
It’s the same thing whether you are a service-based company or product company. Someone needs to enter your world…a lead. You may have a contact form on your website for example that someone fills out or you have an eCommerce site that you want people to buy from.
Where Do Your Leads Go?
A critical question that often gets overlooked is, where do your leads go once you have them in your pipeline? Are they dumped into a CRM system, put on a spreadsheet? Go into someone’s email inbox? The effectiveness of your sales process hinges on what happens to those leads next.
Actually looking at the process and seeing what DOES happen, not what SHOULD happen is important. When we really see what DOES happen, we can then do something about it to get it to what SHOULD happen if they don’t match.
Follow-Up: The Make or Break Moment
Here’s where things get interesting. It’s time to talk about follow-up. How fast are you reaching out to your leads after they’ve shown interest? How many times are you following up with them?
Here’s a real statistic to ponder: On average, it takes approximately 5-7 follow-ups to convert a lead into a sale. Yes, you read that right. It’s not a one-and-done game; it’s about persistence and nurturing.
Again, no difference if you are a service-based business or eCommerce. How are you following up with your leads in your service-based company or what is your abandoned shopping cart and retargeting strategy for eCommerce? How effective are they?
Sell or Die: The Ultimate Goal
The endgame for your leads should be crystal clear: it’s either a sale or a polite “no thank you.” The fear of “losing a sale” or hearing that someone isn’t interested can be no fun, but it’s entirely okay. In fact, it’s preferable to know where you stand rather than chasing elusive opportunities.
You should be actively working towards one of these outcomes, and this is where your sales abilities come into play. Creating objection-handling strategies can certainly help, but they should come after you’ve established your follow up process and then look to see how that is actually working. Essentially, mastering the art of following up and identifying the truly qualified and interested leads.
In the world of sales, it’s easy to jump to conclusions and assume that your leads are the root cause of any sales woes. However, a successful sales process requires a full process. Start by examining your leads, but don’t stop there. Follow the entire journey through your sales pipeline, from lead generation to follow-up, and only then can you pinpoint the areas that need improvement.
So, remember, don’t assume. Take the time to look, review, and refine your sales process. It’s this careful examination that will ultimately lead you to greater success in your sales endeavors. Sell or find out they aren’t interested – there’s no room for uncertainty in effective sales strategies.
If you have any questions, or like to schedule a call with Claire, VP of Sales, click here