Major in the Minor

It is better to be the best in a niche than just a face in a busy crowd. I met a realtor who markets himself as an expert in the disposition of real estate for those in divorces. Why would he do this? 1) There are 5,936 Realtors in San Antonio, 2) The divorce statistics in America are 45%-50% of first marriages end in divorce, 60%-67% of 2nd marriages and 70% – 73% of third marriages all end in divorce, 3) This is a unique situation with particular complications that most realtors will not want to deal with – he did his research and became an expert, 2) He represents both parties – so each needs a new place to live.

In your business – what is your specialty – you can have more than one. Be a specialist – market yourself heavily to that vertical and watch magic happen!

Be the best!

To your success!

Why quit so quickly?

We have all heard the Woody Allen saying, “80% of success in life is just showing up.” I would like to append his quote so as to remove any ambiguity. “80% of success in life is just showing up, again and again and again!” I read the following statistics recently and felt compelled to share them with you,

48% of sales people don’t follow up
25% make two contacts with a prospect and stop
12% make only 3 contacts and stop
10% of sales people make more than 3 contacts

Now compare the above with the realities of sales:

2% of sales are made on the first contact
3% of sales are made on the second contact
5% of sales are made on the third contact
10% of sales are made on the forth contact
80% of sales are made on the 5-12th contact – depending on the many variables of a particular sale such as size and frequency of the transaction, geography, seasonality, etc.

Nevertheless, the data is staggering. Most outbound sales efforts are meaningless in the absence of a process that allows for sustained contact with a qualified prospect. The truth is that just because you are ready (because you have a quota to fill or payroll to meet) doesn’t mean that the prospect is quite there yet. Consider that most of the time you are typically talking to the 90% that aren’t ready. That doesn’t mean you drop them in the everlasting search for the 10% that are ready now. It means that you must engineer your sales process so that you can have a meaningful and value-steeped contact leading up to their preparedness. If you wait till they are ready – then you are coming into the process too late and will likely have to be competing on price.

Stay relevant and when they are ready – most of your work will have been done!

To your Success!