We’ve been talking lately about tracking our ratios and improving our score.
We have been using the following ratios as an example from which to coach:
- 1.42 raw leads to 1 qualified lead
- 10 qualified leads contacted to schedule 1 appointment
- 1.16 appointment scheduled to complete 1 presentation
- 2 follow up contacts to close 1 sale
- 3 sales presentations made to close 1 sale
- average commission per sale = $2,000
Today we will focus on improving our appointments scheduled to presentations completed ratios.
In most industries, there is a small drop-off between appointments scheduled and the actual presentations made. How many times have you shown up at an appointment, only to find that your prospect had something “come up” at the last minute and they just didn’t think to let you know? Or maybe, they totally forgot that you were coming by.
Regardless of the reason, when you show up to make your sales presentation/conversation and find yourself having to reschedule that appointment – it cost you sales and income.
Using the above ratios of 1.16 to 1 – and assuming you make an average of 150 sales presentations per year – simply improving that ratio to 1.04 to 1 would result in roughly 17 more sales presentations during the year. Without any other ratios changing – that should generate an increase of 11.33% in your results and income.
“Your prospect is much less likely to forget an appointment for something that they anticipate will be of great value to them.”
So how can you improve this ratio and reduce the number of rescheduled sales presentations?
Creatively Confirm The Appointment:
- Email a confirmation on the day you book the appointment
- Email additional confirmation emails at periodic intervals – once per week is usually good
- Email a confirmation on the day before the appointment
- Email final confirmation on the morning of the appointment
- Include something of value to your prospect in each email confirmation – don’t just send a reminder. Do your research. Send an article of business or personal use that they will find useful or enjoyable. Often, a funny picture or story with a short note about the appointment is effective.
One final thought – your prospect is much less likely to forget an appointment for something that they anticipate will be of great value to them. Make sure that your prospecting process communicates the value to them – not the value to you or your company. Focus on the prospect – not on the product.
What are five ways you can provide value to your prospect that is above and beyond the actual transaction of their money for your product or service?