July 18, 2024

Contacting Prospects

Good Morning ,
My friend Pat Coyle of Senior Essentials, a Medicare supplement insurance company, and I were talking the other day about getting more customers. About a day later he sent me a chart about contacting prospects. His chart is like the information that Chet Holmes presented in his book “The Ultimate Sales Machine.”
Pat’s chart stated that on the 1st contact (or sales call), and 48% of sales people will only make that one call, they will get a 2% close or sales rate. 25% of sales people will make 2 calls with a 3% close rate or 5% cumulative. At 3 contacts, which 12% will do, they have a 5% rate or 10% cumulative. But at 4 contacts, the percentage of sales jumps to 10% and 20% cumulative. By the way, only 10% of salespeople will make 4 contacts.
Chet Holmes takes it further with 5 through 11 contacts, and it builds to an 80% close rate! Only 1 to 2% of salespeople will make 5 or more contacts.
What closing rate would you like, a 2% or 10% and more?
Till next time.