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Ep 243: How to Tighten Your Close Rate with Adam McChesney
As a business owner, one of your main goals is to close sales and earn revenue. In order to do this, you need to have a strong close rate - the percentage of prospects who turn into paying customers. There are a number of things you can do to improve your close rate, but one of the most important is setting the right expectations. When you first start working with a prospect, take the time to understand their business. What are their goals? What are their pain points? By taking the time to learn about their business, you'll be able to set realistic expectations for what your product or service can do for them. This will help you avoid overselling, which can lead to disappointment and lost sales. Instead, focus on setting achievable goals that will provide real value for your prospect's business. By doing so, you'll be well on your way to improving your close rate.
Episode Highlight
01:03 - The key is that expectation setting. So when you get 10 phone calls from Google, these people don't know your brand for the most part, right? They are potentially price shopping but they potentially just also need someone that's going to take care of them, give them a fair price and exceed their expectations. Whereas if you get 10 referrals from word of mouth or Susie down the street, you're probably going to close most of them. So digital markers will say, hey, a lead is a lead, it's not. The leads that you get from digital marketing and the leads that you get from referrals and past customers are two completely different things. So educating them on that process and then also understanding their business.
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