Responding to your Questions
We received two excellent questions into our office the other day and we wanted to tackle them as soon as possible.
Q: Besides referrals, what is the #1 best ROI [return on investment] marketing source?
A: Obviously referrals have a great ROI, and don’t stop at those that come in voluntarily. Every company should have a “dedicated referral program” with appropriate incentives for leads produced through their customer base. Referral plans should be introduced by the salesperson (after they’ve made a sale), followed up by a thank-you letter which the customer should receive when the project is scheduled. Further follow-ups when the job is completed (paid), thirty days after the job is completed, and again at 90 days. If you’ve got a good referral plan, also make sure you place a phone call once the job is completed and of course all of this should be supported by something in writing.
The second most effective lead is one that is nurtured through database marketing. This includes:
- Your previous customers - solicited for additional work and referrals.
- Prospects where the project was presented and not sold (remember, you’ve already paid for the lead)
- Non-issued leads
- Leads rejected for finance or cancellations.
We call this “mining your database.” It is covered in detail in our audio package entitled, "Leads, Leads, Leads"
Q: We are a small operation, and we are struggling to implement effective sales training. Once we are "up to speed" how long should sales training last?
A: Sales training is ongoing, it should never end. First, there’s basic training (1-2 weeks), followed by field training, then ongoing sales meetings in the office at least once a week. It is vital that you make time for regular training meetings, because this is how growth will be fostered within your organization. Like any other profession, sales training is there to re-present basic methods which are frequently ignored or left out when salespeople become even slightly successful. Online sales training is a highly effective way of accomplish these goals for both veterans and the new hire.