The following blog contribution is from Darren Bosch at DeliberateU.
Most of us assume that more leads will result in better, more profitable sales. I’ve been there, I’ve bought the t-shirt! For some, more leads certainly are needed. Yet all too often most of us overlook one of the best ways to dramatically improve sales results.
Allow me to share the secret ingredient that catapulted our sales results, shifting my Closing Ratio from 50% to 85%+ consistently over many consecutive years – while increasing volume by 40%.
We need to keep our sales prospects highly engaged during the “courting” process until they are ready to buy. This requires a well-designed Engagement Plan. The better we serve them with regular touches and relevant tools, the better their experience, the more value-added… and the better our sales figures and future referrals are! We call this a “Keep Warm” Strategy.
What happens if we don’t have an effective Keep Warm Strategy?
- Trust breaks down
- They “get itchy” and start looking elsewhere
- Your business suffers from sub-par sales closing ratios
- You experience more stress and overwhelm
Before I get to the how let’s first look at the why...
5 REASONS YOU NEED A KEEP WARM STRATEGY:
- CLOSE MORE SALES
50% increase in secured sales occur when companies properly engage and nurture their Prospects - while spending 33% less (Forrester Research)
- BE YOUR PROSPECTS’ 1ST CHOICE
67% of B2B buyers list "relevant communication" as a top influence for choosing one provider over another (Dun & Bradstreet)
- CLIENT EXPERIENCE DRIVES DECISIONS
70% of purchasing decisions are based on how the customer feels they are being treated through the sales process (McKinsey).
- INCREASED ABILITY TO CHARGE MORE FOR THE VALUE YOU DELIVER
86% of buyers will pay more for a better customer experience, but only 1% of customers feel that vendors consistently meet their expectations (Forbes)
- INCREASED ENGAGEMENT = INCREASES ALL AROUND!
23% of fully engaged Customers result in a premium representation regarding profitability, revenue, and relationship growth compared with the average customer (Gallup)
Over the past few years, I conducted Customer Surveys for various different businesses on what their clients want most from them – particularly during the sales process. Coupled with various larger research studies, here’s the real-life data I collected:
TOP WAYS TO CREATE A GREAT SALES EXPERIENCE:
- Have them feel heard: listen to their needs (87%)
- Never leave them in the dark: regular communication so they’re always in the know (84%)
- Keep them informed: provide relevant, timely information (73%)
- Provide them options: they want pricing & product options tailored for them (65%)
- Respond quickly: always respond in a timely manner; (max 1 business day) (61%)
- Always bring value: it’s about serving them first, not your agenda (56%)
Creating a great client experience is a sum of all the parts. One of those critical parts is your Keep Warm Strategy. This is a mapped-out process with built-in scenarios and options to deliver personal, timed touch-points relevant to them at critical junctions in the sales journey. In this process, you are looking to provide high-value and increase their engagement with you.
Fact: Did you know that 7/10 buyers watch an online video during their buying process? Use that to your advantage and send them a planned series of relevant, compelling videos that build their confidence and trust in you, your product and service… and provides high value. This positions you as a trusted advisor, knowledgeable on options and doing what’s best for the prospect.
So, what does that look like? By executing a detailed Keep Warm Strategy with every qualified Prospect, here’s how I managed to get my sales closing ratio upwards of 85%.
1. Never Leave ‘em in the Dark:
General rule of thumb: if my prospect has ever had to ask me what’s next, when they can expect to hear from me or when they’re getting their overdue proposal… I’ve failed. Instead, never leave them in the dark by providing:
- Constant, clear information & updates
- Concise & precise details
- Clear agreed-upon next steps
2. Provide regular, High-Value touchpoints:
One of the main reasons businesses struggle to keep their prospects engaged is because they aren’t offering anything that the prospects deem truly worthwhile; something that speaks to their pain or what’s most important to them!
A great way to provide value and be an expert-of-choice for your prospects is by sharing time-specific content that solves their pain. This could be:
- Process or “What-to-expect” Videos (reduce their risk)
- “What to look out for in a Contractor” Video. (reduce their risk with watch-outs)
- Client Testimonial Video on a similar situation. (build trust, confidence & inspiration)
- Blog Posts, Infographics, eBooks. (inform & inspire them on what they don’t know yet)
- Arrangements to meet your existing Clients (instill confidence for an informed decision)
3. Build Rapport
The most important aspect of nurturing warm Prospects is the relationship. In every interaction, the primary goal should be to further cultivate the relationship. As a salesperson you don’t want someone to feel you’re “selling them” anything. That’s not the Kingdom way. It’s about serving them by educating and helping them make the best-informed decision possible. You’d rather they want to buy because its high value for them. You want to move it from selling to inviting!
4. Get them to test-drive it!
Let them take it out for a test-spin. Every company should have a soft offer – a way to test the product or service. That looks different for many of us, but when I sold $500,000-$1,000,000 landscapes, the game-changer was getting them to experience our clients’ properties and meeting them in person. Casually meeting like-minded folks with similar challenges, discussion deciding factors, watch outs, and after-care service helps them determine value. That’s when I noticed all the defenses came down and more transparent discussions rose to the surface… building more “wow-factor”, trust, and confidence.
So, before you spend time and money on pursuing new leads, I’d encourage you to take a long, hard look at designing and regularly implementing an effective Keep Warm Strategy. It serves your customers far better – the Kingdom way. And you will experience more profitable and sustainable sales. Now that’s what I call better results!
