Creating Conversations and Opportunities with Prospects

Creating Conversations and Opportunities with Prospects

Posted by admin, on 5/7/2010, in category Vendors

Let’s look at what to expect when you develop a lead generation program and go out and prospect new clients.

Client Satisfaction
Here are some interesting numbers.  90% of clients that buy from you are satisfied with what they get in the marketplace today.  The number one reason clients buy from you is because it is easy to buy from you.  They can communicate with you, they can reach you, they can talk to you and they develop a level of trust and are comfortable with you. 

Cold Calling
Did you realize that only 8% of voice mails get responded to?  So thinking in terms of you making 100 phone calls and leaving 100 voice mails, the probability is that only eight of those calls will get returned to you.  It also takes an average of 10 to 12 touches to a prospective client before you can engage them in a meaningful conversation.  What do we mean by 10 to 12 touches?  That is phone calls, emails, voice mails, articles of interest and communication through your referral sources.  Most often people want to get to know you first through your communications, your web site and your voice mails before they are willing to have a conversation with you.

Prospecting is a Numbers Game
It takes seven calls – seven actual contacts of having a conversation with this person before they can make a sale. And this occurs about 85% of the time.  So if you look at all of those clients – the 100 people that you made seven contacts with in a voice conversation or a face to face meeting – on average it took seven of those executions in order to land them as a client.  The downside is most people in looking at leads, following up on leads or purchasing leads, stop calling on those leads after two times.  They give up, say there is no interest and terminate the lead.

Lead Generation Strategy
In this program, we are going to help you identify the appropriate leads and show you how to build a contact strategy that allows you to look at those 10 to 12 touches, create those seven contacts and convert those prospects and leads into clients that will generate revenue and business for your company.
 


 

Many thanks to Jerry Bazata for this presentation!


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User Comments
Posted by
cherylz
Tuesday, June 15, 2010 12:59 PM
I think that different categories of products are going to have different # of "touches".....cake is going to sell much differently than music.... still, this article explains a concept that never occurred to me, and I'm going to change how I'm following up with my leads.  Thank you, Eventective.
Posted by
mgayla@cogeco.ca
Wednesday, December 08, 2010 4:43 PM
I was shocked to think I need to have 7 actual conversations with pre=clients before they'll book with me - and yes, I do give up after 2-3 attempts.  The "flip side" of this argument is that clients get inundated with vendors contacting them and get "irked" when people call them repeatedly.  At least this has been my experience.  And most people that I have tried to follow up with by phone are NOT happy that I'm calling them.  So I try to do my follow up with emails - and can't beleive how many people NEVER respond at all to my emails.  I personally can't imagine being persistent to 7 attempts when I get a very cold response to my initial attempts.  Would definitely like more information on this!
Posted by
Eventective
Thursday, December 09, 2010 11:55 AM
There are different perspectives on what works for providers.  The idea of seven conversations with potential clients is one provider's suggestion of what has worked for him.  When pursuing leads, it is often necessary to contact the planner more than once and show them the value that you can add to their event.  For example over a period of time, you could email them information about the services you offer, follow-up with an interesting article on wedding planning, call them to set-up an informational meeting and email them information about other providers you recommend that could help with their event.  We can offer several tips for reviewing leads for the best fit and suggesting a process for responding to leads to maximize success.  Please feel free to contact us at info@eventective.com.
Posted by
Chad
Tuesday, January 04, 2011 5:54 PM
This is a very interesting topic, and admin may consider providing more articles with different approaches.  I would love to learn how to utilize these leads, but am unwilling to throw money away on them by not knowing how to correspond to them appropriately or effectively.  I agree with the other comment in that if someone "cold called" me seven or eight times, I would consider that harassment, not proper business etiquette!  But if it works for the author, good for them.  (Just know that if he emails me seven times, I'll be reporting him for spam!  lol!)
In any case, I think it would definitely be in eventective's best interest to provide their vendors with better ideas on utilizing the leads they produce.  I know that I am ready to spend some money growing our wedding business, but not until I am more confident about writing emails directed at potential clients.  
Posted by
eventective
Monday, January 17, 2011 7:00 AM
Thanks for your feedback.  Feel free to contact our client service team at cs@eventective.com and they would be happy to provide tips for responding to leads.
Posted by
jab0628
Sunday, March 27, 2011 9:04 PM
Taking an different perspective on the concept of 7 touches to a prospective client, what you are trying to communicate is the value you bring to the event planner.  As Chad and MGayla reference in their comments, its not all about emails and phone calls, rather an opportunity to commuincate a value propostion to your prospect in several different ways.  Initially you will start out with an email and then follow up with a phone call.  Allowing several days or a week to pass, your next contact would be to provide an article about planning an event, sharing a recent experience or announcing and event you are attending.  Chad comment regarding seven emails as SPAM is incorrect if you are offering advice or seeking to make a professional contact. However if the event planner returns a message asking you to remove them from your contact list and then you continue to send them "sales related material then you would fall under the "Spam Context".   It is without saying that all event planners are receiving information from multiple channels and communications,  however the best sales I have made resulted from my managed persistance and diligence in reaching out to prospects and clients.
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