Month: March 2010

Something I picked up from Chris Cardell

I have been following Chris for a number of years and his last email just about summed up the problems we have in encouraging businesses to survive. I have cut out most of the important stuff so here it is and thanks to Chris for putting so succinctly…
As business owners, we can never be good enough at following up with our customers.

I refuse to let a business owner moan to me about the economy until they have a multi step follow up sequence of 7-30 contacts (email, mail, postcard, telephone etc.) with everyone who comes into contact with their business as a potential or paying customer or client.

Funnily enough, when people do this, they tend to make so much money from increased sales, they just shrug off the Recession and stop talking about it.

As business owners, we can’t afford to make the big, costly mistake of not following up, because one way or another we pay good money to get leads, and if we let them disappear without them becoming customers, then it’s money we’ve wasted.

And just in case you have any doubts about how important this is, here are some scary statistics:

48% of sales people never follow up with a prospect
25% of sales people make a second contact and stop
12% of sales people only make three contacts and stop

It’s staggering, but only 10 % of businesses make more than three contacts. This means they’re losing a small fortune.

Because…

2% of sales are made on the first contact
3% of sales are made on the second contact
5% of sales are made on the third contact
10% of sales are made on the fourth contact
80% of sales are made on the fifth to twelfth contact

So if you’re like almost half of all businesses and make no more than one follow-up to your prospects… you’re leaving 98% of your income on the table for someone else to come along and pick up.

If that wasn’t bad enough, here’s why it’s even worse. Look at these eye-opening statistics about why people stop buying from businesses:

1% die.
3% move away.
5% follow a friend’s or relative’s recommendation.
9% find an alternative they perceive to be better quality or value.
14% are dissatisfied with the products or services.

And a massive 68% of people leave a business because of… indifference.

They take their business elsewhere simply because they do not feel valued.

Since you spend a lot of time, money, and effort to get a visitor to your business, if you let them leave because of indifference, you might as well be flushing £20 notes away.

They take their business elsewhere simply because they do not feel valued.

So, how often should you follow up? Most business owners I speak to follow up maybe once a month, if they use follow up at all. This is a mistake. You can quite safely send something once or twice a week.

See, it’s not the quantity of stuff that annoys people. What annoys them is if it’s boring, and nothing but requests that they buy something from you. As long as your follow up is friendly, personal, full of personality and fun, then you’ll be fine.

There’s a golden rule in Marketing that will make you wealthy. Once you have someone’s details keep on following up until they either buy, die, or tell you to stop!

Enjoy

Blame everyone but yourself

Why is it that when I talk to business owners they need someone to blame; the government, their suppliers, the weather, their staff and last but not least their customers.
Whatever happened to service whatever happened to is there anything else I can do for you.
Throughout the ages people have been blaming everything from God to the spirits for their misfortune but only themselves for their good luck.
My take is that it is all my fault I take the blame for everything and every problem the difference is that I really don’t care. I shall sleep soundly in my sleep knowing that I have bought the world to an abrupt halt.
If others care too much they should put a bit more energy into keeping themselves on top of the situation.
Take heed there are many of us out there who only want to do the best we can so beware of idiots and chancers don’t argue with those that know better just sit back take it in and then take action…