Just One More
There's an old saying, "The Early Bird Gets The Worm", but in this day and age where we have technology that allows us to work with people all across the country, time isn't so much the factor as is the QUALITY and the QUANTITY of a follow-up.
According to Marketing Metrics, the probability of selling to a new prospect is only 5–20% however the probability of selling to an existing client is 60–70%! And yet, many of us feel fear in following up with our existing customers.
What if I told you that just ONE more call per day, would garner over 50 new customers this year.
Or that one more follow-up per week would increase your sales by 10% this month.
Or that one more ask for a referral a day would DOUBLE your customer base in 12 months.
Would you do it? Would you pick up the phone? Would you make the call to make a difference in your business?-->
We would venture to say that you probably would! But the numbers that I gave you are going to depending on your law of averages.
We recommend you track your law of averages, because when you can track your average rate of return for referrals, calls, and follow-ups, then you know EXACTLY what you need to do to reach your goals.
For example, if your average 10 Follow-up calls result in $100 in repeat sales, then you know that to reach your goal of making an extra $400 this month, you just need to do 10 more follow up calls a week than you are doing now.
Or, if you have to ask 5 people for a referral before you get one, then start tracking who you are asking, and what the results are.
When you have this level of understanding of your business numbers it makes goal setting so much easier, and realistic, based on your activity.
Another powerful statistic: A 10% increase in customer retention levels will increase the value of your business by 30%. (Bain & Company)
So to increase your customer retention, you need to give even better customer service which INCLUDES calling your customers to service their needs and make them feel important. You also have to answer their questions, and respond quickly to any mistakes that you may make along the way. So, why not start doing that today. Just one more call, one more follow-up, one more asking for a referral.
You will be glad you did.