Did you know that 8% of sales people close 80% of sales?
So why the disparity? Sales is largely a numbers game, but too many sales people don’t look at it that way. Of course, other skills like negotiation and relationship building are also key, but if you’re expected to meet strict sales quotas, the numbers are very important.
Only 2% of sales happen during the first meeting.
When you spend the day looking to create new leads or close deals, you’ll find that the majority of your success will be further down the funnel. Follow up call’s generate little to no response until you get to about the 8th – 12th call. Realistically, very few sales people are willing to follow up with someone that many times. Paul McCord recently wrote a great post about how to compete in a world with 8 second attention spans.
Only 2% of sales happen during the first meeting and seeing the numbers in the infographic, 92% of sales people would have given up on meeting follow up by the 5th attempt.
Some sales people have the mind-set that they’ll be closing a deal on their first attempt, and when they don’t, they become so disheartened that they vow to never contact the same account again.
It’s best to approach your first interaction with the knowledge that on a statistical basis, you’re highly unlikely to close the deal today. Instead, focus on building rapport first. Ultimately, this will make the multiple interactions needed to close a deal far easier and more enjoyable.
Gut Check Sales Figures – An infographic by the team at Sales Facts & Figures
If you’re looking for tips on how to sell more, download our popular free ebook, How To Close Deals Faster.