If your company is able to increase your closing ratio, then continuous success is right around the corner. Companies need to be able to make sales in order to thrive. And those who have figured out a way to minimize the gap between their new prospects and their actual closing ratio will have more time and money to reinvest in their business. Increasing your closing ratio, however, is one of the more challenging goals your company can strive for. Even top-performing companies can have less than a 50% closing ratio. But with the right tools at your disposal, you can beat that percentage and reach that goal sooner than you think.
Track Activity to Help Increase Your Closing Ratio
One way to increase your closing ratio is by tracking user activity – both on the prospect and the sales side.
On the prospect side of the equation, if it’s clear that a person is engaging with your business, due to how much time they are spending on your various web pages or how often they are downloading ebooks, whitepapers, or other content from your website, then you know this is a lead that’s worth focusing on. And, when you have a lot of leads like this that you’re able to track, it’s only a matter of time before you can convert those leads and thereby increase your closing ratio.
On the sales side, your sales people should be tracking everything that they’re doing. Every call, email, follow up, meeting, etc. should be tracked so that you can see what your sales people have been doing at every step of the way. If you’re tracking your activities with your prospects, you’ll be able to see where any balls are being dropped.
Create Organized Workflows
Once you’re able to rank your leads as well as other visitors who have opted in, you’re going to have to go full throttle on your sales methods. The first step is to make sure your response rates are at 100%, therefore if a lead reaches out to you, you can be ready to address their issues or answer their questions immediately.
It’s also important to use personalization techniques to your advantage. Since you now know who those high ranking leads are, your workflows can target these people all at once. Whether that’s a personalized marketing campaign or a follow-up email to a subscriber, there are many ways to really lock in that high-qualified lead. And, Mission Suite can do all of this automatically after you set up the workflows.
Be Diligent in Reviewing Task History
After setting up workflows and having a lead’s information stored in Mission Suite, you can go back and look at this user’s history. You can see how long they’ve been signed up for or how often they are clicking on your links. If applicable, you can also see how close they’ve come to making a purchase. You can use this information to help decide which leads are worth using to help increase your closing ratio, and which ones can be left for a later time. Then, you can go back and re-evaluate how to reach this lead.
Score and Rank Your Leads
The easiest way to increase your closing ratio is by knowing which leads you can spend the least amount of time to achieve the quickest profit. First, see how often an individual has engaged with your content and experiences you provide. Based on that, you can determine how likely it is that this person is interested in purchasing from you. Mission Suite gives you the ability to rank your leads based on different criteria. You can see which leads are worth focusing on. Then, you can direct your efforts to them and increase that closing ratio.
Keep Sales and Marketing in the Same Loop
If you want to systematically bring leads through the sales cycle, then cooperation is crucial. Everyone working for you must stay on task. They must know which clients they are dealing with, what’s coming, and what needs to be done. If there’s even one employee who isn’t on task, it can bring you back to square one. Mission Suite helps ensure everyone has a visual of what’s happening, where tasks can be assigned to different team members, reminders are sent out automatically, and everyone is on the same page. This way, one error won’t prevent you from making that very important sale.
Set Up Meetings to Close the Deal
There are many ways for sales teams to essentially close a deal. One way to do this is by setting up a meeting with a high-ranking lead one on one. A meeting may serve as an opportunity to give the person a demo of your products. Or, it may be a chance to answer any questions they may have. A meeting is, of course, also a window to offer some source of value to a potential customer. Ultimately, though, it shows them that you’re representing a brand they can trust. Here, you can give them a little slice of what it would be like to make that purchase.
In order to schedule a meeting, call, or a demo with a high-qualified lead, Mission Suite can help. Here, there’s a platform to allow users to book a time slot from a schedule embedded right on your site. Then, the scheduled time will appear in your dashboard. If you’d like, you can dig a little deeper to explore additional data on this person, to make sure your fully prepared to meet with them and get them to complete the sales cycle.
Any business that wants to be — and remain — successful, must know how to increase their closing ratio above everything else. This is by far the most difficult steps in a sales cycle, so having something to guide you through it is a great thing. Request a demo with Mission Suite to learn more today!