So your marketing team is doing an amazing job of bringing in leads to your business. They’ve done all the analysis. They’ve built the marketing machine. They know the Cost per Lead to the penny for all of your marketing channels. Now it’s over to your sales team to convert those leads.
The percentage of those leads that the sales team convert dictates your Average Cost of Sale. This figure is important. If it’s greater than the actual revenue generated by that sale, you’re in trouble.
According to Google, even if you’re an online business, 63% of people complete their purchase offline following their search activity. That means talking to the prospect on the phone.
The problem is, we all encounter businesses regularly who don’t answer the phone or don’t return your calls. If this is your business and you’re selling a commodity then you’re in trouble as customers will simply move onto the next business who will answer their call and buy from them instead.
In our business for example, our entry level product is a simple virtual number…very much a commodity product. A website call back request or a missed call not followed up within 4 hours is already a cold lead for this product. Might as well write it off . The figures are pretty stark...