If you think about your ideal success rate, it’s a lot more than 1% right? Imagine this situation; I’ve applied for a sales position at your company, if I told you my success rate was 1% there’s no chance you’d hire me. Right?
Yet the vast majority of people in sales and business development are reliant on strategies that have a 1% success rate, or a 99% failure rate. So why do they use these strategies?
You’d be surprised to find out how good it feels to have, what is arguably, an unsuccessful strategy. It can actually be really rewarding when you finally make a sale after putting in the effort these strategies require.
These types of strategies include sending cold emails and using email automation to prospect and get your product in front of people. Setting up these workflows takes time. You need data, to identify prospects and then contact them by the thousands.
If you’re lucky, for each 100 emails you send out, you’ll get one sale. This could be £25k, £50k, or even £100k and it will make the whole process feel worth it. That’s why we convince ourselves that a 1% success rate is good.
There is another way
What if I told you that I could get a group of salespeople, put them on LinkedIn and increase their success rate from 1% to 10% all while saving them time and effort. I can do this with even the worst sales team.
You don’t have to spend hours formulating emails and gathering data for a 1% success rate. Using my strategy your team can increase their rate tenfold and after six months I would expect their success to be at least 25%.
The problem is, it can be difficult to understand how changing the process and contacting less people can result in more sales. But a conservative approach does work. Trust me, I use it myself.
By using a strategy that only targets 100 people you can generate conversations that lead to sales with at least 10 of them. That’s the worst case scenario, a 10% success rate. Sounds good right?
This strategy not only targets a smaller group of people, but it also takes less effort. You won’t be spending time dialing phone numbers of people who don’t want to talk to you or getting your emails flagged as spam.
Instead, you’ll be growing meaningful connections and generating valuable conversations with actual prospective clients. It may seem like a lot of work, but I can assure you that it is less than what you’ve already been doing.
So what is my sales strategy?
I am now five years down the line of implementing my strategy and currently have a 25% sales success rate. This is because I have thought our sales strategy through and planned out every step.
By reverse engineering the sales strategy I am confident that everyone I speak to has a need for my product or service. I know I can offer value to them. This means that I get a lot less rejection.
Plus, many of my prospects will have already engaged with my content on LinkedIn and built up a rapport with me. This means they are already a lot more receptive to what I have to say, knowing I can provide valuable information.
My strategy involves spending time getting to know your prospects. Using LinkedIn as a tool to grow your network by connecting with the right people. Producing engaging content that your prospects will enjoy. Putting in the time and effort.
When you’re active in your network, your prospects will learn that they can trust you. They will be regularly subjected to your content and they will develop an understanding of what you can offer them.
Then, when they realise they need your service, they’ll be happy to get in touch.
Want to know more? I can give you all the information you need to increase your success rate and provide value to your customers. All you have to do is drop me a message to start the conversation.