Debbie Mayo-Smith: A simple lost sales solution

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I often am asked to address one of the most prevalent and costly pain points in business in my presentations. That is of staff, franchisees, sales teams, contractors (you name it) not following up on sales opportunities. Early last year, I wrote a column about this problem in href="http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10858953" target="_blank">Is your business one of the rational 12.5 per cent?

Not following up is hideously costly in three ways:

First the opportunity cost of sales that should have been made.

Second the referrals lost for future customers from those sales not made.

Third the money, time and effort spent to get that lead, that enquiry that is simply thrown away.

Most often the root of the problem is simply not having the time - and not having a system - or if having a system, not being religious about following it.

Last week, I flew down to Christchurch for a small licensee conference. The members were not very technologically savvy, so I devised a simple system for them. Diagrammed it and showed them three non-negotiable email tips they needed to learn to work it.

If they used this system, I calculated they could easily increase sales 15-25 per cent.

Implementing the system - after learning the three computer shortcuts then setting up a few standard repetitive paragraphs - would take a matter of moments a day.

Interested in knowing what the easy yet effective solution is?

It's simply this. To never let a lead go unless it's honestly not a viable one. Persistency pays heaps.

Most people feel that if they don't get the sale right then; if the prospect isn't calling them back after receiving the quote; they're not interested. Some feel it's not their job to call the prospect back (they're the ones to be called) OR that calling them is equal to pestering.

My response to this was a simple question. "Name your competition". They came up with many answers - but not the correct one I was looking for. The answer is Procrastination. Inertia. This is the main competition to many quotes. It's easier to let things slide. For many of their prospects this is absolutely spot on. The prospect just needs a little push, a little - or a lot - more time. Give it to them instead of just letting it go. Or getting to busy to follow up. Persistency pays heaps. Yes. I said it before and I'll say it again. Persistency pays. HEAPS!

To cater for this, the plan is to automate follow ups so they are timed correctly, and take very little time or energy to do. And to keep following up until a sale is made or it's clear the prospect has completely decided against it. No matter how many years it takes.

The three computer tasks:

1. Drag and Drop (Outlook only)
2. Quick Parts/Outlook; Canned response/Gmail; Scrapbook/Mac
3. Tasks/Outlook; To Do/ Gmail and Mac

The system is:

1. When you send a quote out, blind carbon copy yourself so it arrives in your inbox. Then drag and drop this email into Tasks/To Do. For Mac or Gmail, copy and paste into a new To Do item. Set a follow up date.

2. Follow up date arrives, Task/To Do pops up. If you've heard back - delete the Task/To Do item. If not, telephone OR email: Outlook>drag/drop task into inbox icon to create a new email (all the details from the task will be there). Delete the tasky items from the email. Your original email to the prospect remains. For Mac/Gmail, open new email in.

Next, insert a quick part/canned response/Scrapbook (these are previously saved paragraphs, images, all with formatting preserved that you can use over and over again.)

3. Send and re-task for follow up. Repeat process, marking task with conversation notes.

If you would like a copy of the diagram I created, simply email me for it - it's my pleasure to share.

Written by Debbie Mayo-Smith, One of New Zealand's most in-demand speakers, trainers and bestselling authors. Debbie works with companies that want more effective staff. For more tips and business ideas sign up for her free monthly newsletter.