For simplicity’s sake, let’s keep this about service-based businesses.
The average cost to acquire a customer is $200-$300 depending on your industry.
So, you spent $200 to get one customer, whether it was by direct mail, Facebook ads, flyers, or billboards.
And if you’re a good administrator (which you’re probably not! Just kidding) You keep a spreadsheet with a list of ALL your paying customers.
Great. But, out of that $200 you closed one sale… what about all the OTHER prospects & inquiries that you dealt with, that didn’t close? Are you putting THEM in a spreadsheet?
I am 99.9% sure you are not!
That is like ordering a pizza pie, eating one slice, and throwing the remaining 7 slices in the garbage.
Or maybe a better analogy might be: mining for gold, getting one nugget and then closing down the mine, and looking for another site to mine, when you could’ve just kept digging and got more.
Not everyone is ready to buy right now. The majority of people in the market need considerable follow up, warming up, more communication, more value, more conversations, and then eventually they’re ready to buy.
Therefore, if you keep, month by month, a list of everyone who has been pitched, and not purchased, and you have your team follow up with them by phone, email, text, social media, print mail, personal visits, or whatever medium you choose, you will eventually get those other sales. Give them case studies, tips, industry info, news, any sort of value to foster the relationship. Don’t just try to sell, sell, sell them, follow up with value. No one wants to be continuously hounded for a sale with follow ups, but people don’t mind follow ups that are value-first oriented.
If you spent $200 to get 10 leads, and of those 10 closed one sale. Wouldn’t you like to also close those other 9 leads?
You can, and it is ALL in the follow up.
Unrelenting, value-first oriented, caring, follow up.
By creating and continuously adding to this prospect list, you will be making a gold mine, that you can use any time you need, whether you’re having a slow month or a good month and you want to boost your sales.