One of the fastest ways to increase your sales conversion rate…is to get clear about who you serve.
You’ll get more conversions (sales) as a percentage of your prospecting pipeline if those prospects are,in fact, your target market. One of the first things you, as a business owner, should define is your ideal avatar or potential customer profile. Your target market may be B2B, if so then this article by Jerome Knysewski on Sales Strategies is a good read.
If you have worked out your niche market and what their problems, issues, wants and goals are, then you will not go chasing prospects that don’t match those specific criteria.
Doing the research up front will focus your marketing efforts on locating and engaging with only those prospects that are a fit for your product or services. So, your marketing efforts are focused and therefore cost less. Your follow up is spent on real prospects that may now, or in the future, require your offerings. This simple approach can have significant effects of how many prospects say yes to working with you.
No extra leads required, same amount of effort….more sales conversion…more revenue. Too many businesses try to market and sell to a broad range of prospects. When you do this your marketing message has to be, by definition, vague and generic.
Once your marketing message is watered down like this it will not resonate strongly with any one particular prospect. This results in more effort being required to convince the prospect that you are the right choice.
Sit down and identify your ideal customer. You can start with your existing customers (the good ones!). You know, the ones that pay you on time, appreciate your services/products, refer other prospects to you and are great to do business with.
Note the problems you solve for them, their demographics and what their frustrations and desires are. This data is what you use to target the prospect that fits best with what you can offer.This Forbes.com article on How to Increase Conversion Rates provides more techniques for you to consider.
Talk to more of your ideal clients, tailor your message to their needs and you’ll do more business!