Are Your Close Ratios Amazing?
Consider whether this describes your business:
Every prospect understands exactly what my business is about. They understand what my company does and why we do it. They come to us because they know exactly how we are better than the competition in ways that make a difference to them. Our customer loyalty is second to none because we have identified and communicated how we meet their needs on an emotional and intellectual level. Our marketing communication receive immediate response. We are able to close the deal with every qualified prospect.
Do businesses like this really exist? Can you close the deal with every qualified lead?
If this matches the profile of your business, please send me an e-mail. I would like to talk with you. In our world of competitive markets, demanding customers and advertising overload, it is nearly impossible to close every deal. I admit that there are some start-ups that come very close, especially if they have an innovative product that is still out of reach of the competition.
Most businesses settle for closing enough sales to keep the doors open. Those that want to excel often accept their low closing rate as an immutable law of nature and simply add more salespeople to generate more sales on the same old model. Once you do the math on commissions, cost of recruiting, employee turn-over, and employee training, you quickly find out that this method leads to slow growth at best.
Companies that want to see stellar growth and experience long-lasting success on the sales front need to throw off the shackles of spreadsheet projections based on mediocre historical performance and crank up the dial on closing sales.
Yeah, it's as much a marketing thing as a sales thing. In fact it's bringing both together in a real meaningful way.