Results Report Strategy Brief - Articles, Case Studies and Valuable Marketing Hints and Tips from Results Corporation

Archive Classics Number 6 - Two Proven Formulas
 for Boosting Response and Conversion Rates...

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Two Proven Formulas for Boosting Response and Conversion Rates...

Here is the sixth of seven of our 'Classics from the Archive'. 

You can use these two concepts to great effect in your lead generation (direct mail, email broadcasting, telemarketing and more), and to boost sales conversion rates.

The 5 "No's"

Michael Le Bouef in his book 'How to Win and Keep Customers' offers an eye-opener regarding people's buying behaviour that will shock many people.

He reveals statistics that show 60% of people say "no" four times before they say 'yes' to an order when dealing with a sales representative.

In other words, it takes five contacts.

However, on the other side of that coin, of those salespeople asking for an order:

44% give up after one 'no'
22% give up after two 'no's'
14% give up after three 'no's'
12% give up after four 'no's'

Which means the 8% of sales people who don't give up after four no responses are getting 60% of the sales. Very sobering indeed.

And when you consider that face-to-face is the most efficient form of selling, you can appreciate that selling by 'remote control' 'off the page' or via the Internet, is a great deal harder again.

In fact, evidence from our clients shows that eight steps or more are often required when combining off the page mediums such as direct mail and email with telephone and face to face.

And more recently, some of the worlds best 'online only' marketers are reporting great results from 20 - 50 step sales processes!

So no matter what your sales process, be prepared to develop and systemise multi-step strategies. Or be prepared to have someone else take the sales you should have earned.

The 90 Day Contact Cycle

A few months ago we explored the importance of staying in touch with your prospects and clients regularly and relentlessly within 90 days (or less).

This is based on the 90 day calling cycle pioneered by Saatchi & Saatchi and documented by author Wendy Evans in her book "Choose and Grow your Own Business in 90 Days".
 
To quote Wendy...
 
"Keep in touch with your prospect and client base regularly and relentlessly within 90 days. Less than 90 days is fine, but never let more than 90 days go by without contact which is approximately 60 working days".
 
This case study from Wendy's book shows how you can more than double sales by implementing a 90 day (or less) follow up system.

The example is based on winning appointments starting with a 200 strong prospect list...

To summarise...
 
1st Cycle - 1%
2nd Cycle - 2% to 3%
3rd Cycle - 7% to 10%
4th Cycle - Up to 30%
5th Cycle - Up to 60%

There you have it - a simple and inexpensive follow up system that could more than double sales for a few pounds - the cost of an extra couple of phone calls and/or emails.

We have been applying this follow up system with clients for years in all kinds of industries and consistently see great results.

As Wendy points out in her book, the numbers you see above can be conservative compared to what you may achieve.

Simple. Cheap. And hugely effective.

Not convinced? No problem - test this on your next 20 prospects and measure your conversion rate compared to your normal contact schedule.
 
Archive Classics Number 7 (the last in the series) will be in your inbox later this week.

To discover how we can help to make your business more successful, call us today on +44 (0) 1933 373000, email
enquiries@resultscorporation.co.uk or reply 'YES' to this email with your details.
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