Based on a study by The National Sales Executive Association I have a whole new outlook on the word “no” Now that I know I am going to hear it 98% of the time when I ask for the order it makes selling more fun. According to their study 90% of your sales will come after your fifth follow-up with a prospect.
According to the study (which I was not able to track down on the internet)
- 2% of sales are made on the 1st contact
- 3% of sales are made on the 2nd contact
- 5% of sales are made on the 3rd contact
- 10% of sales are made on the 4th contact
- 80% of sales are made on the 5th – 12th contact
If you correlate this data with a post I wrote a couple of years ago titled “Why prospects don’t respond with just one contact” it helps rationalize how important persistence and timing are to selling.
So why don’t people respond to your offer right away? The fact is, most of the people who have an interest in what you are offering ‘do not’ usually respond the first time they receive your offer. They may have every intention of doing so, but for one reason or another, they don’t respond.
- They procrastinate.
- They get side-tracked by something else.
- They need to think about it–and then forget it.
- They don’t have the money right now.
- They have a million other things that they have to do first before they seriously consider your offer.
- Their circumstances won’t allow them to respond now, but those circumstances may change completely in a few months.
And on and on.
I always have flyers, emails, letters, post cards, etc. of offers that I am genuinely interested in. But I put them aside with every intention that later I will study them more closely and make a decision then. More often than not, those letters, emails, etc. eventually get misplaced or tossed.
So it is not necessarily your personality that is the problem. The best advice is to follow up…at least 5 times it would appear.
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