We all sell something in business.
When I see the amounts of money spent on marketing every year, and then look at what happens with leads once a company receives them, it makes me believe that the waste in business because of bad or non-existent sales processes may rival the waste I normally attribute to government.
I want you all to know that I do believe in effective marketing programs, but they must be supported by an effective sales process.
Since I believe that 50 to 70% of sales people do not produce the results expected of them, it did not surprise me when I was sent a study that stated:
- 48% of sales people never follow up with a prospect.
- 25% of sales people make a second contact and stop.
- 12% of sales people make more than three contacts.
- 2% of sales are made on the first contact.
- 3% of sales are made on the second contact.
- 5% of sales are made on the third contact.10% of sales are made on the fourth contact.
- 80% of sales are made on the fifth to twelfth contact.
Source: The National Sales Executive Association
This leads me to believe that we need to develop more accountability within our sales organizations, develop better processes, and really track what happens to potential prospects.
Weekly Wisdom by Jerry Rollins, Chairman and CEO of Sage Executive Group