A lot of sales professionals are adept at maintaining long-term relationships with repeat customers and establishing new business with existing customers. But, it’s the objective of every business to maintain existing clients and also to create new customers and sales. This means the identification of a sales lead pool leads and then converting certain leads into new business.
Key Points for Sales Leads
There are many important points to consider in the beginning of working on creating leads.
1. Every lead is precious Don’t dismiss it quickly.
2. Be open to each lead. Salespeople make assumptions about the prospects of each lead, such as whether the person is likely to purchase, or whether they’ll be attracted to our products. Unfortunately, clients who show to be a big spender are not able to get an inscription to their faces! Follow up on each lead until you have solid proof that it isn’t an opportunity.
3. Imagine yourself being in competition with a very skilled Sales Person , not an adversary. If the lead is genuine they are likely to purchase from someone else. Are they going to be you or will it be the other person who will win the purchase?
4. Determine how you can follow with leads efficiently, and develop an effective personal management system.
Set Targets
It’s a numbers-based game The higher the number, the more successful the sales Person! But when managing leads, it’s more effective to think about conversion rates instead of figures that are flat. The reason behind this is easy. Two salespeople are needed who have 10 sales and one who has 20 sales within one week. At first, you might believe that the sales person who has twenty sales would be the more successful of both. However, it turns out that she reached out to 100 people in order to make those 20 sales, whereas the first salesperson only reached out to 20 people in order to obtain the 10 sale.
The salesperson with the 50 percent conversion rate is the best sales person. In fact, the first salesperson, who has a 10percent conversion could be considered a liability. It’s more efficient to hand his leads to your great salesperson. This is a way to take a look at your leads.
You must plan how you will handle each lead batch and establish your goals for conversions. Make a goal of the following:
What is the number of leads you’ll change into contacts
• How many contact you’ll change into clients
Managing your Sales Leads
To effectively manage leads you can use a model known as The Sales Cycle. It outlines the steps of lead through advocate.
1. Leads
2. Contacts – We make contact with the decision maker maybe via a phone call or a casual conversation
3. 1. First Contact Meeting Our first sales presentation, where we establish trust, establish our the needs of our customers, and present our product and hopefully make a sale
4. Active Prospect – We have had a conversation with the prospect, and they could decide to buy, but they haven’t decided yet
5. Client – the client purchases from us
6. Advocate – The client is so happy that they’ve recommended us to friends and family
The goal is to focus on each stage to improve the efficiency and conversion rate in sales. As more leads convert into contacts, the larger the potential pool of leads we can use to work with in following phases. The rates of conversion for work are different for each stage within the sequence.
Improve the Conversion Rates of your business
We can improve our conversion rates in each stage of the sales cycle by making use of our techniques, tracking and recording systems, as well as effective methods of motivation. Most importantly, every successful salesperson plans how they will grow every week and throughout the year. In addition to managing their regular daily tasks they also focus on improving their skills to ensure they are continuously growing their abilities.
As an example, you can spend a week focusing on improving the initial section that is the first phase of your Sales Cycle by making more contacts from leads. Choose a specific time for making appointments. Make a list of contacts names and numbers, as well as any other details you’ll require to conduct an efficient time for calling. Make a goal of the numbers of dials or the number of contacts, or the number of appointments that you make. Determine how you can inspire yourself to continue until you have reached your goal. After you have completed the call take a look at your performance and then use that review to determine your next call.
