By Steve Hackney (Published: December 24)
Today we’re going to focus on the first of the CONVERSIONIZE Principles – Multiple Interactions.
This is without question, the most important Principle because applying it to your conversion system, will alone transform your results.
In fact whilst the principles are the foundation of a successful conversion system, Multiple Interactions are the foundation on which the other 8 principles sit.
This first principle is very easy to apply and I’ll explain exactly how you do it shortly, but first, let me share the research and results that backs up the importance of using Multiple Interactions across your sales conversion system.
There has in fact been so much research carried out over the years about how many contacts or interactions it takes from the moment a lead is generated to the point where a sale is made.
In fact take a look at this diagram, which summarises all the prominent research...
And as you can see from this diagram, which summarises all the prominent research… you can see after 7 interactions or contacts, 94% of prospects will buy at this point.
We call this 'The Rule of 7' and that’s our magic number.
It means we should build in at least 7 points of contact or interactions into our conversion system because we know most people will have purchased by then.
Or look at it another way… you are reducing your chances of getting a sale if you don't have at least 7 interactions or contacts in your sales conversion system.
But there’s another important element to this…
Th research on the right of the diagram, shows at what point sales people or basically anyone whose responsibility lies in the sales function of a business STOP following up.
It's quite shocking...
Even after the first contact or interaction, 50% of sales people have given up.
And by the 5th contact a whopping 89.8% have given up.
Yet 80% of all sales have been made at the 5th contact and only 10.2% of sales people are still following up.
In other words...
...if you’re in competition with another business, (who isn't?) the likelihood is they're not putting in the level of follow-ups and interactions that you are.
And if you are putting in the level of interactions, then it means you're going to win the sale, more often than not because you are simply playing the numbers game.
WHY SALES PEOPLE GIVE UP
But you may be thinking… ‘Steve all that makes sense, but why do sales people give up so early in the sales process?’
Let me explain…
First and foremost it's because the business and the people responsible for the sales function of that business, don't understand the importance of Multiple Interactions.
Therefore they don't systemise and automate the follow-up sequence.
Secondly, this next diagram shows what’s actually happening in two different conversion systems and scenarios.
The top line shows best practice.
7 interactions built in to the conversion system (we advise all our clients to have at least 7 interactions).
At each interaction you can see that the desire level of the prospect is increasing and they are moving closer to the sale.
By the 7th interaction the sale is made.
But the bottom line shows a different story.
This is showing a common situation with most businesses...
At each interaction the desire level of the prospect drops, until the sales person gives up and stops following up.
At each interaction, the prospect has moved further and further away from buying.
Why is that happening?
Well, it’s because it’s not just about having at least 7 interactions.
Every one of those interactions needs to be positive.
In other words, each interaction should be created to increase the desire level of the prospect.
HUMAN PSYCHOLOGY PLAYS A VITAL ROLE (BUT NOT JUST WITH THE PROSPECT!)
However, in most businesses very little thought is given to each interaction and because of that, the desire level of the prospect reduces.
There's much psychology at play here...
The sales person notices the drop in desire in the prospects body language, their facial expressions, the words they use and senses a reduction in positivity towards them.
The result is the sales person thinks this is a poor prospect and drops them so they can move onto the next one and so on.
But if that same prospect is the recipient of 7 interactions – each created to increase their desire and excitement, then the opposite occurs.
The prospect enjoys the journey and at each point their desire increases… ultimately leading to a sale.
As you can see, there’s a lot going on from a psychology point of view here.
It’s not just the psychology of the prospect… it’s also the psychology of the sales person.
Clearly we want to create the top scenario where each interaction is positive and every interaction is leading the prospect closer and closer to the sale.
It’s really important you understand this.
Multiple Positive Interactions is the basis of the world’s greatest and most successful conversion systems and now you can hopefully see why.
But next, the question is this…
...how do you create these positive interactions to ensure they each increase the desire of the prospect?
Well you do that using what’s known as ‘Moments Of Truth’ (the second Conversion Principle)…
...and this article explains all.
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