Have you ever considered the cost of missed sales opportunities to your business? Now add to this the cost of advertising for all those prospects that you did not convert. Now multiply this by the number of years you are in business. How much opportunity have you and your team missed.
We call this your conversion rate. Very simply, out of every 100 prospects, browsers, quotes issued – how many do you turn into customers of your business.
Whatever the number is, there is an opportunity to improve and increase it and thereby increasing your turnover and profit. In many cases this can be done without even spending one cent.
Here are a few suggestions on how to improve your conversion rate:
1. Measure your conversion rate. believe it or not, simply measuring will make you and your team more attentive and your sales figures will increase. Measurement can be done in a number of ways depending on what business you are in but remember this – everything is measurable and no excuse is acceptable.
2. Write sales scripts – Again a very simple way to improve your sales. Write out what you would like your team to say and get some consistency in their approach to customers. Some words used in sales are a turn off for customers, some motivate them to buy. Identify the ones that work and dont work and encourage all your team to follow suit.
3. Role play – either on a daily, weekly or monthly basis, carry out role play training with your team and get others to listen and observe. OK its all staged but it gets people thinking and it takes them outside their comfort zone – they will sell more out their comfort zone.
It is also a good idea to record role plays and replay them for team members. They will learn from them and their sales will improve.
4. Provide feedback for the team. No sales person or customer service person worth their salt will like to see customers leave without buying. As part of the process, make it acceptable to give constructive feedback on anyone’s sales techniques. With their permission, you can listen, observe and give feedback to them and their sales will improve.
5. Challenge beliefs – people lover to buy but they hate to be sold to. What are you and your team doing? Selling or professionally helping people to buy. There is a huge difference and when you and your team start to see what their role really is, their attitude and approach to customers will change and your conversion rate will improve as well.
Need a conversion rate improvement? Get in touch today…