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Your Conversion Path is Too Long

February 17, 2016 / by Max Dworkin

You go into every meeting, phone call, and email writing session with the same goal in mind: converting a lead into a customer. The exact thing you’re doing might not be the final step, but that’s your ultimate goal.

 

But how many steps does it take to get there? Is it like taking a nice stroll along the beach or does it feel more like climbing Kilimanjaro to get to that final handshake?

The truth is that a lot of sales teams suffer from a conversion path that is just too long.

What Does Your Conversion Path Look Like? 

Take a moment to think about what it took to get your last customer to sign on. Was there a lot of travel? Seemingly endless meetings and phone calls? Multiple emails every day to make sure you stayed top of mind?

All of these little actions can add up to one huge journey. A long conversion path eats up your time and resources and means you have less time to spend finding new leads, managing current customers, and growing your business and revenue.

It’s just logical that you would want your conversion path to be as efficient as possible. But how can you do that?

How to Make Your Conversion Path Shorter

Converting a lead into a customer means earning trust. And the best way to do that is with the information you should already have. Each sales meeting and call should be focused clearly on what your customer cares about most: their own company. Surely you are offering energy solutions that will positively impact your customer’s bottom line and revenue potential. That should always be the focus. If you can give your prospect a story about how you can make a difference for them and their goals, so much the better - because 63% of people remember stories and only 5% remember statistics.  

If you are making progress with your customer, but it is just with one staff member, how do you then organize when it inevitably becomes a multi stakeholder engagement? In a typical firm with 100-500 employees, an average of 7 people are involved in most buying decisions.  Rehashing details from past meetings and reaffirming commitments with new parties is necessary, but it can be a drag on your time.  Platforms provide the resource you need to aggregate all past businesses cases, learning, and tools in a memorialized framework.  This will save you time and energy as you bring more of your customer’s team into the decision to gain their commitment.

Utilizing an energy platform can be powerful tool in the sales process. Because the mechanics of the platform allow you to streamline your data, it can actually help to speed up your overall sales process, which can in turn give you a boost in your conversion path.

Managing different resources can be a complex task, especially if you have multiple staff members engaging in different aspects of your sales process. An energy platform allows you to focus staff time on those portions of your process where they add the most value, and to identify gaps and areas of overlap. Sticking to a process and data driven approach, you create opportunities to be proactive, and force your sales activities to better align with your desired outcome: converting opportunities and building your customer base.

Remember the importance of qualification. Analyze your recent sales successes compared to your total pipeline of opportunities and develop conversion metrics. Identify the patterns of that lead to a sale and those customer traits that are common among non buyers. By developing these buyer profiles, you will refine your qualification criteria, and also create a framework for disqualifying some prospects. By reducing effort spent with unlikely buyers, you refocus your time and energy on those candiates that matter the most to your business.

We have only begun to scratch the surface of how to earn faster conversions for more sales in this post. To dig even deeper, check out our presentation below for getting from first contact to commitment faster than ever.

 

5 Shortcuts to Customer Commitment



Topics: energy partners, sales

Max Dworkin

Written by Max Dworkin

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