Sales Stats You Need to Know
I recently read something that opened my eyes to why most sales professionals get frustrated and quit. The reason lies in their persistence and perseverance surrounding prospecting and following up. Many salespeople give up too soon and stop following up with their prospects.
- 48% of sales people never follow up with a prospect
- 25% of sales people make a second contact and stop
- 12% of salespeople only make three contacts and stop
- Only 10% of salespeople make more than three contacts
- 2% of sales are made on the first contact
- 3% of sales are made on the second contact
- 5% of sales are made on the third contact
- 10% of sales are made on the fourth contact
- 80% of sales are made on the fifth to twelfth contact
So, what does all of this mean? It means you have to be prepared to follow up and stay persistent. Let’s take a look at of few of these statistics and what you can do to get more sales.
48% of sales people never follow up with a prospect. WOW! The bad news is many of you are thinking right now about the number of sales you have probably lost because you did not follow up. Your competition is probably doing the same thing The good news is you now know the statistics and can change the results.
So how can you benefit from this? Make sure you have a system to track your activity. Keep notes on who you saw and the conversations that took place. Without collecting this information, you are going to miss opportunities and times to follow up. How many times has a prospect asked you to follow up with them next month and you never do because you forgot? OUCH!
TRACK, TRACK, and TRACK.
Only 10% of sales people make more than three contacts. Most salespeople stop going back for two reasons.
The first reason is they have nothing to say. They probably unleashed the fire hose of information on the first call; therefore, they have exhausted their potential client with a ton of information. Now they don’t have anything worthwhile to bring to a second call.
The second reason is they don’t want to become a pest. Salespeople become a pest when the prospect feels they care more about the sale rather than helping them. These two reasons are easy to resolve if you have a plan and understand the buying mindset of a customer.
The art of selling is helping some realize that they need your product or service at a quality price. The key is to get to know your prospect. You cannot know anyone after one or two visits. It takes a few conversations for people to feel comfortable with you and then they buy. Remember, people purchase products and services, but they BUY you.
80% of sales are made on the fifth to twelfth contact. There was a saying in World War II,”The first wave dies on the beach,” which refers to 80 percent loss of the first wave of troops that went ashore on D-Day. You must soften up your prospect’s “beachhead” before you can proceed with the sale. You must prepare yourself for the multiple contacts before the prospect will buy from you. Remember the adage “Persistence wears down resistance.” Think about children. They ask you for candy and you say no. They continue to ask. Then what happens? Sooner than later you give them what they want, the candy. Children are the best salespeople in the world.
The Bottom Line: The reality is that follow-up and persistence are two of the keys to success in sales. The statistics don’t lie.