Transcript: Converting Your Leads For Business
Q: So I run the global sales teams, and I work in a particular part where the leads come in online and you mentioned you're the conversion queen.
A: I am.
Q: I think we have quite a good sales process and conversions, but how do you get conversions first?
A: What I'll do is, I'll map out your sales process. So let me imagine: The web lead comes in, the first thing I'm going to do is I'm going to tag that lead. And I'm going to understand what date it came in, because I want to know how many leads come in on what dates, so I know my lead flow.
I'll link that into your marketing, so I'll be able to understand that very quickly what marketing channels are producing what. Okay, two things before we've even looked at the lead.
The next thing is what I call DMC: Decision-Maker Contact. I've got a lead, I know when it's coming in, I know the marketing source. Have we ever got decision-maker contact?
Decision-maker contact is: 'Have I got them on the phone?' Because if you've got me the on the phone, you can take it through.
I'm gonna look at my sales person and say: 'Why is it, that with you, at appointments, you lose 90% of your business?' That's either, our space is shocking, our pricing's appalling, or you're not selling properly.
And by breaking it down, what it allows me to do, is look at the point of conversion where it drops off. So, if we go: lead, decision-maker contact, appointment, appointment sat. And if the appointment to the appointment sat is low and we're losing loads of business, they're not doing a proper fact-finding job when they're talking to the decision-maker. If we've gone: appointment sat and quote issued, and then it falls out, I'm looking for: 'What was the reason?' Is it too expensive, space not suitable, location not suitable, never gained contact with a customer, what was the reason for us not converting the business.
I always look for something I call the trigger for sale. Which is: 'What's the most important thing for you?' For me and my office, I'll give you a real example: space, connectivity and money.
'Oh great, you've said money - what's your budget?' Now if I said: 'Space, connectivity and I want it to have a pretty view, you'd say: 'That's perfect, but how much do you want to spend?' And actually sales management of conversion is the most important, because your marketing division could spend millions and it's irrelevant.
I want to know my lead date and I want to know my sold date. Because when I'm tracking my business's performance, I then now my average time from my lead coming in to close, when we close to when we sell, and when we sell to when they move in.
What mapping out the sales process does is if I go into your system today and go: 'I'll look at Jane, how many leads has Jane had? Ooh, Jane has got ten leads that we're quoted, I'll call you back with an appointment.' And then Jane will do the normal thing sales people do and put: 'Mrs asked for a call back at the 2 o'clock or the 3 o'clock or the 4 o'clock on the 4th of February. Ooh, we're on the 24th of February and they haven't called me back.'
I love pipeline reviews, I love looking at someone and saying:
'Matt, you said you were going to call the customer last Friday.'
'Oh, wait I didn't put notes.'
'Oh, didn't you? Well if you didn't put them, it didn't happen.'
You know, this is how I build the productivity every time, so that's just spot management more than anything else, but that after-sale is huge. But it is all to do with mapping it out and understanding why you are not converting and then doing something with it.