Twenty years of research conducted by Chet Holmes, The Ultimate Sales Machine, has shown that only about three percent of prospective customers are in the process of buying your product or service right now. This is why it takes one hundred dials in order for most salespeople to get 2 or 3 First Appointments with prospects. In those rare instances, the caller has been fortunate enough to swerve into the three people out of 100 who are currently interested in buying the product or service that you sell. You must get appointments with more than just these three percent.
3% are currently interested in buying the product or service that you sell.
7% of your prospective buyers are open to the idea of buying or have already started thinking about buying your product or service.
The other 90% fall into the following three categories:
30% are not thinking about it.
30% think they’re not interested.
30% are definitely not interested.
Almost 90% of the people that the salesperson is trying to reach are not thinking about his product or service. Is it any wonder that voicemails are not returned? Is it any wonder that administrative assistants don’t cooperate? If these people are not thinking about the salesperson’s product or service then it doesn’t matter how the salesperson frames the message, the prospect is not likely to respond positively by scheduling an appointment.
Since the average salesperson is not aware of the reality of this situation he doesn’t have a clue about how to craft his initial message or how to respond to objections. Since he doesn’t know any better, he just guts it out and keeps making the calls, even though he is acutely aware of how unproductive the activity is.
Or, on the other hand, he just gives up on cold calling altogether and depends entirely on the marketing department to generate leads or he depends on networking and referrals. I like to say that if someone tells me they get all of their business through referrals, it is code for “I suck at sales.”
The problem with inbound leads, networking and referrals is that they don’t provide the salesperson with enough prospects for him to prosper.
Highly effective salespeople are able to persuade a portion of the 90% who would otherwise be disinterested, to schedule a First Appointment. How do they accomplish this? See our blog called: The Research Briefing is the Answer.