Knowhow: Conversion Techniques | Four tips to make sure every prospect turns into a customer
The most important component of your sales process is the conversion rate. And the reason is simple: If your conversion rate is less than 100 percent you are wasting money and time. For example, if you spend $1,000 on a marketing campaign but you are only able to convert 25 percent of the prospects who respond, you have wasted $750.
Here are the four very best ways of increasing your conversion:
Unique Sales Proposition. What can you say about your product or service that none of your competitors can say? For example, a lawyer who works with the elderly to provide life-care planning has a unique sales proposition (USP) of being the only registered nurse-attorney practicing elder law. A chiropractor who uses a tool to adjust the spine rather than twisting the patient up like a pretzel has a USP of painless chiropractoring.
Scripts. All of us have good selling days and bad selling days, but if you always adlib your pitch then you’ll never get consistent results. If you create a simple script — just a bulleted list of the key points you want to make and the order in which to make them, then you’ll likely see improved results. A web designer was cold calling companies with no website and by developing a script she reduced the time it took to get a meeting by 69 percent.
Testimonials. These are the most impor tant part of your sales toolkit. Having someone else say how great your product or service is has 10 times the impact of all of your words. The best testimonial format is a video testimonial that you can use on your website and have transcribed to use in all of your proposals. The next best is an audio recording and the least powerful — but still worth getting — is the simple printed testimonial. Use them on your website with the writer’s photo and name — and of course use your best testimonials as the first page of every proposal or bid.
Guarantee. Every buying decision is based on 80 percent emotions and only 20 percent logic. Having a guarantee removes the fear of making a mistake and let’s you leverage the prospect’s emotions. The best guarantee is not money back — it’s customer satisfaction. The prospect doesn’t want his or her money back; they want the product or service to do what they expected it to do.
Do these four strategies really work? Absolutely. They are proven strategies with hundreds of success stories. A patent lawyer used these four strategies and doubled his conversion rate in three months. A jeweler just started using these strategies and within the first month his conversion rate has increased 30 percent — he sold an engagement ring for several thousand dollars simply by talking to the prospect about how his intended would feel when she saw the ring on her finger.
That, plus a guarantee of being able to exchange the ring if she did not love it, got him a $3,000 sale!
Van Smick is the owner of Success & Profits Coaching of Concord. He can be reached at van@successandprofits.com.
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