There are a couple of numbers I would like you to get comfortable with. More than just “comfortable,” I want you to embed these numbers in your brain and consistently endorse their implications.
50/25/80
Once you internalize the significance of these three numbers, you will launch yourself to the head of the selling profession. The good news is that your competition does not have a clue as to the significance or meaning of these three numbers. This, in and of itself, will differentiate you favorably from the pack.
50% of sales people quit after the first contact.
They try to sell something once, and then they accept “rejection” and pack their bags and go home. 50% of your competition eliminate themselves from the game following the first attempt.
25% of sales people quit after the second attempt.
This is more good news for you. Some folks suck it up and give the sale a second shot. After failing a second time, they tuck their tail between their legs and limp back to the safety of their cubicle.
A full 75% quit after two shots.
80% of all sales transactions occur after the fifth contact.
WOW! Is this true? Well, to be honest with you, the number 5 (fifth) could very well be nine, 10, or 15.
Translation: This clearly implies that to be successful in sales today, a number of things must happen:
- You mustn’t quit too soon.
- You must become “wearable” with your prospects if you are going to last through five, nine, twelve or fifteen visits.
- You mustn’t quit too soon.
- You must learn how to be patient.
- You must never quit too soon.
When is it time to quit? When do you move on?
There are three good times to “pack your tent.”
- When you die.
- When your prospect dies.
- When your prospect threatens to call the cops. (And this is just a temporary back-off. Chances are in five years he/she will forget about the threat which leaves you an opportunity to try it again.)
BONUS POINT: Just like in horse racing, football, downhill skiing and NASCAR, speed wins when it comes to growing a business and selling your wares. Return phone calls first. Write that introductory letter first. Show up for your appointment, first. Speed wins. Be first.
Mike Marchev is always looking for a few more proactive travel professionals to join his Sales and Marketing Club, mike@mikemarchev.com.
*** You want more to think about? Check out my weekly podcast (Miked Up Marchev). Also listed on Spotify, Apple Podcasts, Google, and iHeartRadio.