Cast your net wider but mend holes first

JEFF KNIGHT, CONSULTANT, TONIC MARKETING SOLUTIONS
JEFF KNIGHT, CONSULTANT, TONIC MARKETING SOLUTIONS

If a fisherman wants to catch more fish, he could make a bigger net, cast his net wider or first fix any holes to stop fish escaping.

All these principles can be applied to increasing your sales but the starting point must be to ensure there are no holes in your net.

To do this, you must look at the conversion rate of enquiries to sales, rather than simply spreading your net wider. There is little point spending money on leads if too many potential clients slip through. So set a goal by which you wish to enhance conversion rates, then devise a plan to achieve this.

It is vital to establish why prospects do not convert. You may feel uncomfortable doing this but this could mean they end up becoming clients in the future.

Similarly, the prospect may also feel uncomfortable giving you such information. If you put them on the spot, you may not get a valid reason why they didn’t use you. So make them aware that you will be following up, whether they use your services or not, and agree the best way and time for this.

You may discover that a prospect chose a rival so find out what it was it that your competitor did differently. Ensure you get across why individuals should use you, but never criticise a rival in the process.

Perhaps you didn’t follow up the lead quick enough or you came across as too pushy, or not pushy enough. Whatever the reasons, the more insight you have from lost prospects, the more likely you are to adjust your processes, which should lead to more leads converting in the future.