For small business owners, the number one reason for sales being slow is something very simple. Lack of, or no prospecting activity.
The problem is rarely a poor conversion percentage, or that the price is to high, or (add reason here). In my experience, it’s almost always a simple lack of sales activity. Waiting for the phone to ring does not qualify as sales activity!
So, if you need to jump start your sales:
Write a letter and send it to 1000 targeted prospects (or 100, or 10,000). Pick up the phone and call everyone you have done business with, or have a business relationship with and ask them how you might help them.
Put together a real special offer on something you offer to get you and your sales group excited about selling again.
Build a new “add on service” that your current clients need, and send them an email, then follow up with a call.
In the words we all know and love, JUST DO IT. And do it for an hour every day.
Making more sales, starts with and is 100% contingent upon one thing. Generating leads and you do that through activity.
Based on the last blog, you now know how much per lead you can spend, and you know that by increasing your conversion rate (closing percentage) you will be able to generate more leads.
So what tactics (methods) should you use. Lets start with a small company with a limited budget, as this is the most difficult situation.
If you are limited by a small budget for advertising, the first strategy is do every thing you can to reduce some expenses and move that money over to lead generation. Lead generation is an investment, not an expense, and should produce more revenue and profit. A really good cycle!
Tactics to use to generate leads and expense:
Relationship marketing. Expense is your time
1.) Make a list of everyone you know in business. Next to their name add one thing you can do for them professionally. It can be an idea, an introduction, a mention of their service in your newsletters or emails, a joint venture, a lead.
2.) Take the top 5 that seem to feel the best, and make those 5 calls this week.
3.) Watch good things happen. We call it the radar system. You get on their radar and are in their thoughts. Nothing but good will come from this. You will start getting referrals, and opportunities you never would have imagined. This is my personal favorite and always pays back big dividends.