Posts Tagged ‘opportunity’

I recently met with a new client and we began by taking an inventory of her marketing activity.

  • She was doing a pretty good job of networking and had built some good strategic alliances.

  • She was limping along with social media–no regular posts, no dialoging with her community. Her personal page had only a fleeting reference to her business–a big missed opportunity

  • No newsletter or blog

  • Website okay and tells a nice story, though could use some editing

  • SEO: she showed up in a meet-up, but was otherwise unremarkable

We talked about market sectors, target audience and how to reach them. I asked her if she was doing any cold calling. She looked at me like I was crazy. I looked back at her because I thought she was even crazier.

I suggested we create a list and start contacting her ideal clients. I also suggested that she go back through her client list and contact those people who might be interested in her services again or be able to refer her to a colleague or friend.

This is what it takes to build a business. You need to be doing it all–social media, cold calls, endless follow-up and networking. This is a full-time job, but wait–you still have to be doing the client work that pays your bills.

Okay. Time for some stats:

  • 2% of sales are made on the first contact. This is pathetic.

  •  3% of sales are made on the second contact

  • 5% of sales are made on the third contact

  • 10% of sales are made on the fourth contact

  • A whopping 80% of sales are made on the fifth to twelfth contact

These stats tell the story. If you want business, you have to ask for it. Make a commitment to spend a couple of hours/week on cold calls and follow-up. Most important: give yourself a big reward–you’ve earned it.


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