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Finding the Market: Why 68% of sales DON’T happen Posted on October 9, 2018
In a staggering 68% of cases the answer was simple, “they weren’t there”. In other words, 68% of sales missed, were controllable or something could have been done about it!
Turn on the TV at any time of the day and it’s not long before you are bombarded with advertisements.
Advertisers do this because they are attempting to create a “top of mind awareness” of their product and build a brand. Does it mean that you will race out the door to part with your hard earned $ to make a purchase? No. But does it build familiarity, yes.
In other words, “they were there”.
It’s the same in small business. When it comes to people buying your product, how are you making sure “you are there”?
One of the best ways to make sure that you are maximizing the potential sales capacity of your business, and not to mention the business sale value, is to have an up to date database.
Regular communication to your database is essential to making sure they are fully aware of all the products and services you offer, as well as letting them know of recent developments or product launches.
Think about it….
If you have a client database of 500 customers and a prospecting database of 1,500 customers and marketed to those databases every month, that’s 24,000 points of contact in a 12 month period!
Based on that there will be a certain amount of sales that are generated.
So before you go and spend thousands on expensive advertising campaigns, review your database –
More sales might be staring you right in the face.
To find our more ways to market and what your “cost per lead” is in your business, attend one of our award winning workshops.