Whether you’re an individual or manager looking to increase sales, this video is well worth your time:
[beginning of recording]
Trey [00:06]: Hey, this is Trey with Spotio. I’m real excited to share with you four tips that you can use to start increasing your sales today. Now, these aren’t things that I’ve just made up out of thin air. These are things I’ve seen our customers do time and time again to drive top-line sales and more profits to the bottom line.
So, with that’s said, let’s go ahead and jump right on in.
First is to know your numbers.
Now, what numbers am I talking about?
First is contact rate. This is how many knocks does it take before you talk to somebody?
Second is a qualified rate. How many of those people you talk to are qualified to buy your product?
Now, the first two mainly have to do with the time of day that you’re working and the territory that you’re going, not so much skill. So, contact rate, obviously for most parts of the world, the later you work in the evening, the higher the contact rate you’re going to get if you’re working in residential areas, the opposite for commercial.
Now, qualified rate all has to do with the location that you’re working. So, are you running into a lot of rentals? Or, do you need a certain credit score, level of income in order to sell your product? So, those two have to do with time of day and the area you’re working.
Now, these next two have to do with more of the skillset, which is lead rate. So, of those that are qualified to buy, how many do I get to move to the next step?
And then, finally, close rate. Of those leads, how many buy? Now, what you need to do is honestly assess yourself and ask: which one can I improve on? Don’t tackle them all at once, let’s find one and improve on it.
For instance, I want to turn my contact rate from 30% to 50% just by working prime times. Let me show you what that does to the bottom line. Keep in mind, I’m not changing anything else except my contact rate. So, if I did 100 attempts and I got 30 contacts, right, my 30%, 22 would qualify, six leads, two sales. Again, those are average numbers for what we see.
Now, if I take that 30% to 50%, here’s what happens: I have 38 that qualify now. I have ten leads, three sales. So, just by making that one metric better, I’ve got one more sale, but more importantly, 20 more follow-ups in the number of qualified and leads that I’ve got, so it’s staggering what this can do for you. Now, imagine if you tweak every single one of your numbers: what’s going to happen?
Second is to re-knock neighborhoods to at least 75% contact rate.
Now, the average contact rate we see is 30% across the board. So, for every three doors you knock, you’re going to talk to one person. Now, this is probably the biggest benefit I’ve seen customers get, is doing this, because as you make more contacts in an area, people see you, they know you, you’re a familiar face, neighbors talk, it becomes easier and easier to get a sale.
So, I’ll give you some numbers here: 100 house neighborhood, my first pass-through I make 30 contacts, again that 30% rate, so that leaves 70 that I haven’t spoken with. Now, I want to show you how many attempts it’s going to take to reach that desired 75% contact rate. Okay? Second pass-through, I’m up to a 51%. Third pass-through, I’m up to a 66%. Fourth pass-through, I finally hit my 76% contact rate. So, think about that: on average, you’re going to go back through four to five times in order to hit the contact rate you need, and that’s why a tool like Spotio is so beneficial, because we’re not going back and bothering people that we’ve already talked to before. We’re going to go attack the ones we haven’t spoken with yet.
So, the question that we get a lot is: well how long should I wait before I go back through? Answer is: it doesn’t matter. Same day, next day, this week, next week, the sooner the better, right? Because again, we’re not bothering people that we’ve already talked to.
Third is the “fortune is in the follow-up.”
87% of sales rep don’t follow up more than two times. Now, I understand many of you watching this video are encouraged not to follow-up, it’s a one call close situation. If you don’t close it there, then move onto the next one. I’m not talking to you right now, I’m talking to those that can and should follow-up. And, we made it easy for you. You can create reminders for everything and live inside your calendar. We have a little set appointment feature – use that to your advantage, whether it’s an actual appointment or it’s just, “I need to call,” “I need to email,” use this to your advantage.
Don’t try to remember anything. Remember everything, or use sticky notes.
Fourth is to set goals
Stop waiting for things to happen, go out and make them happen. How about this? The probability of completing a goal increases 50% if you have a written plan on how you’re going to get there, but in sales, what’s that written plan? Well, I’m going to give a pitch and I’m going to close this out. No, I want to get more specific than that. If you want to make X dollars per year, per month, use your numbers from step one to work backwards and we’re going to create daily actions that we can control to hit our goals.
Example: I want to make $50,000 this year. I make $100 per sale and it takes me 25 doors to get a sale. What do I need to do today? You know, I’m going to wake up in the morning with all of the intention of going out and getting a new sale, but ultimately, I can’t control that. My actions are going to control that. My level of activity is going to control that. So, $50,000 a year is about $1,000 a week. I’m going to use some round numbers to make it easy. $1,000 a week is ten sales per week. Ten sales per week is 250 attempts. 250 attempts is 50 knocks per day. Now, I think we can all agree that’s something I can control, so my numbers tell me if I do 50 knocks a day, I should be able to hit my goal of $50,000 income per year. Now, if I go back to step one and tweak my ratios, hell, I might double or triple that, you never know.
So, we just went over four ways to increase your sales today:
Number one: know your numbers
Number two: re-knock territory to at least 75% contact rate
Number three: follow-up, follow-up, follow-up
Number four: set goals
Thank you very much for your time, and good luck out there.
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