What’s your sales strategy?
- Is it baseball where batting 300% gets you into the hall of fame?
- Or football where 600% gets you into the hall of fame?
A 60% passer completion rate gets you to the Hall of Fame in the NFL. Neither strategy is wrong, but clearly the higher the probability the more cost effective the sales approach.
What is the conversion rate for your business?
It’s a no brainer that improving sales conversion rates requires prospects to recognize your brand, believe in your product or solution, and be ready to buy. B2B studies show that it now takes eight (8) nurturing interactions with a qualified sales prospect for them to have brand recognition and champion interest in a product or solution.
- Nurturing campaigns ensure prospects keep your company, product/solutions, and experts forefront of mind. Nurturing campaigns also educate buyers to additional benefits which ensure pricing margins.
- Sales support programs provide the rationale (based on value-add ROI and risk protection) opportunities need to convert them from prospects into customers.
Increasing the Probabilities of Success Requires Minimizing Sales Execution Risks:
- Never put a sales person in front of a buyer with less than a 1 in 3 probability of buying today.
- Be recognized by buyers: brand awareness is a requirement in today’s marketplace for B2B.
- Be positioned as #1 or #2 in each of your target markets.
- Think like your customers and equip your sales team to show that they understand customers needs and corresponding required solutions.