Closing In On The Answer!

Did you take a look at your last few direct mail or lead generation results?

  

C'mon...the truth won't hurt...I promise it will help! 

  

If you did, it is time to take a look at how you are performing.  Easy stuff first - Close rates!

  

Closing rates are like I.Q's, your age or your weight...it seems to change each time you say it. 

  

 

For example, I was on the phone with an agent just today and they told me they close 60%. 

 

"Outstanding!  What can you do to increase that batting average?" I asked.

 

"Tell me how to stop these dreaded "no shows"...they are killing me!" he responded.

  

"No shows?"

  

"Yea...you know, when you drive all the way out to the house and nobody's home!" they answered with a voice of frustration.

  

"Are you paying for those no show leads?" I inquired.

  

"Most times...yes, but I close 60% of the people I see.  That's good...right?"

  

  

Here we have a classic case of overstating results and understating the dilemma.  This agent was getting 10 leads from 1,000 mail pieces...right on average of 1%.  We can live with that.

  

But he was only getting in to see 5 people - a 50% no show rate!  We have to dig deeper into why. 

   

Is it his appointment calling approach?

  

Is he trying to sell the product over the phone rather than sell the appointment?

  

Is the free offer drawing the wrong type of prospect and skewing his results?

  

Is it something else?

  

While there are many reasons for his no-show rate to be high, the real problem is that he didn't include them in his close rates, he had no idea of the cost of each lead, or his cost to close.

  

Do you see that monitoring results can help you become more effective... productive... profitable?

  

He is right about one thing...closing 60% or 3 sales each week makes him very effective once he actually gets in front of a prospective client...

  

He just has to find a way to get in front of more opportunities based on the money is spending... yes, his money.

  

But once he starts to review the performance of direct mail, the appointment conversion rate and his selling rate he will be...

  

Closing in on the answer!!!

  

Until tomorrow, I wish you Money, Power, Success!