Patience Pays Off! (More than ever before)
Sales & Marketing for Professional Services & Sales & Selling

Patience Pays Off! (More than ever before)

April 23, 2018

by Tony Vidler  CFP logo   CLU logo  ChFC logo

How patient do you have to be in today’s world to turn an enquiry into a customer?

 

A lot more patient than ever before…but it pays off!

 

Research consistently shows that around 79% of the time “salespeople” have around 3 contacts with a prospective customer before they give up.  And it is about 89% who give up after the 4th attempt….

 

Yet we generally aren’t even beginning to create top of mind awareness with prospects who had previously been un aware of us until about the 6th or 7th contact with them.  It takes that many contacts generally before they even really remember who we are, and virtually all businesses have ceased trying with a prospect by that stage.

 

If you have been in contact 9 times or more then there is a 90% chance that when they are ready buy…or seek advice….then they will choose you.  By then you will have created top-of-mind-awareness: they associate you with a particular service or issue and when a trigger event happens in their life you are who they think of.

 

Clearly patience pays off!

 

BUT….it is about patience and persistence – not just persistence (which really does remain the domain of the pure sales-person).  Simply being persistent and calling a prospect 10 times in 10 days is NOT being patient.

 

Building a process of patient engagement that allows the prospective customer get to know you and your business, and builds their confidence that your organisation is not just in it for the “quick sale” is critical.  People seek professional advice mostly from people that they feel they know, trust and like.  That cannot be achieved in 1 or 3 phone calls….or even 10 calls and emails in a short period of time.  Patience builds trust.

 

A considered and well thought out engagement process with prospective customers that creates at least 12 touch-points over a period of 6-10 months is a very different experience will generally create the top-of-mind-awareness and sufficient trust.  While that may sound like a lot of contacts, there are a number of possibilities to create this sort of engagement process without being a nuisance, including;

  • phone calls
  • emails
  • newsletters
  • thank you cards or notes
  • useful information & articles
  • blogs posts
  • social media connections or sharing
  • seminars & public talks
  • introductions to other suitable professionals
  • links to “how to” videos

 

Many of the engagement steps that a practitioner already has built into their existing customer service strategy can be used for prospective customers as way of keeping in touch of course, so it isn’t as if you have to invent the whole process anew.

 

If you want to increase the ROI on any of your marketing efforts by improving the conversion ratio’s, then building an engagement – or lead nurturing – process and demonstrating some patience will definitely pay off.

You might also be interested in this related article:
An Advisers’ Engagement Process Might Look Something Like This…

 

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