Maximizing Your Potential!

One of the biggest misconceptions that most people have is that marketing costs a LOT of money. No doubt, McDonald’s spends a LOT of money on marketing and advertising. And, not just money for radio, TV and newspaper/print advertising but all the costs associated with that. Mind you that is spread around to all the franchisee’s, but still…

So, let’s say you do not have millions of dollars to invest in your marketing. How can you have a BIG impact with a SMALL budget?

I’d like to take an excerpt from one of my favorite books, “The MILLIONAIRE Real Estate Agent,” by Gary Keller with the help of Dave Jenks and Jay Papasan.

This is from the Chapter, “Earn a Million – Stage 2,” specifically the section titled, “Playing the Numbers Game.”

He says, “Interestingly, many agents are seduced by the search for the perfect marketing image and invest large amounts of time and money in this pursuit.” He later goes on to state, “Our experience working with top agets has taught us that even as important as your look and message are, there is a much stronger correlation between sales leads generated and the consistency and frequency of your message than between sales and the creativity of the message. No matter how you slice it, lead generation will almost always come down to a game of numbers.”

As a coach I have observed this so many times that it is a ‘no-brainer’ for me. I just push my clients to get out a higher volume of information, whether it is more calls, more doors knocked, more open houses participated in or a mailing going out every month.

And now, with the proliferation of internet marketing opportunities available, it is incumbent upon all of us to get up to speed if we want to capitalize on this emerging market place.

I encourage you to come up with a plan, keep it simple and stick with it.

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There was a survey done by the New York Sales Club a while back as to what a salesperson’s success rate was after each attempt to close. The results were pretty interesting:
1st Attempt to Close 8% said Yes
2nd Attempt 14% said Yes
3rd Attempt 18% said Yes
4th Attempt 27% said Yes
5th Attempt to Close 44% said Yes

Now, if you continued to carry this forward you would get up close to 80%.

But let’s face it you will probably never make it to 100% closing because there are many factors which are out of your control, such as, the person has just lost their job or any number of other unforeseen factors.

However, there is an interesting correlation here. Another survey was done that showed that 80% of salespeople gave up after the third attempt to close. The 20% who persisted beyond the third attempt got 80% of the sales.

So, what happens is that the salesperson seeks to interest the buyer and meets with a person who is trying to pretend that there is no sale. He’s got his attention on other things and is trying to ignore the sales person.

Then the sales person starts to really desire the sale. He’s desiring to get the sale done but the prospect is doing his or her best to inhibit the sale. They may say something like,

‘I’m just not sure if now is the right time.’ or ‘We have decided we need to think about it.’

They are trying to put on the breaks on this process.

The salesperson then tries to pressure the client, ‘This is the best time to purchase this product,’

And get’s pressure back from the prospect, saying, ‘We said NOW is not the right time!’

And right about the time the prospect starts to desire the product or service the salesperson starts to inhibit the sale saying something like, ‘You are probably right. This is not the best deal for you.’

Here the poor prospect is ready to buy and totally interested and the salesperson is ignoring the prospect. You think this seems to far fetched but it happens all the time.

Remember, 80% of sales people give up at 3 above, when both of them are at enforce (the sales person pressuring the prospect and the prospect insisting that he’s not interested.)

All the salesperson has to do is stay at interest and let the prospect move up the scale to meet him or her. This is super simple and super powerful!

Good luck!

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