Sales Follow-up Strategies and Statistics

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Questions and Answers

Which of the following is NOT a pain point for Medical Providers?

Consistency of medical care (correct)

Dealing with prior auths (often unnecessary ones)

Employee morale/staff frustration

Phone calls from patients

What is a common pain point for Law Firms, as stated in the content?

Phone calls from patients

Staff education

Spending time on non-billable activities (correct)

Poorer patient outcomes due to non-compliance

Which of the following is a pain point for both Medical Providers and Law Firms?

Employee turnover (correct)

Patient medication adherence

Phone calls with insurance carriers

Meeting patient demand for services

What is a common pain point for Medical Providers, as described in the content?

Phone calls from patients (A) Signup and view all the answers

What is the MOST effective way to follow-up with potential clients?

Visiting in-person (D) Signup and view all the answers

What is a pitfall to avoid when visiting potential clients?

Wasting their time with irrelevant conversations (D) Signup and view all the answers

Which of the following is a recommended practice for in-person follow-ups, after an account is sending us everything they can send us?

Establishing a follow-up schedule (D) Signup and view all the answers

What is the recommended approach to get around unresponsive contacts?

Find a different person to contact (A) Signup and view all the answers

What is a key consideration when visiting a potential client in person?

Keeping the visit as short as possible (B) Signup and view all the answers

What is the recommended approach when seeking referrals or warm intros?

Establish a connection before asking for referrals (C) Signup and view all the answers

What should be included in a follow-up email after a referral meeting?

If they committed to sending, give them specific details on how the client will utilize your services (C) Signup and view all the answers

What is the recommended course of action when a prospect does not respond to an email?

Wait 2-5 days before sending a follow-up email, focusing on prospecting. (D) Signup and view all the answers

What is the best practice for handling multiple topics in an email?

Send a separate email for each topic to clearly convey information. (D) Signup and view all the answers

Which of these practices is considered a 'don't'?

Over promising and under delivering (C) Signup and view all the answers

What is the most important aspect of building a strong relationship with your accounts, according to the content?

All of the Above (D) Signup and view all the answers

Which of these is NOT a benefit of showing your accounts that you care and understand their circumstances?

Decreased conversion rates (B) Signup and view all the answers

How should you approach following up with your accounts?

Follow up when it feels appropriate, based on the specific account and situation (D) Signup and view all the answers

How does the content suggest you should use Salesforce in building account relationships?

Use Salesforce to gather information about your accounts and leverage it to build stronger relationships (C) Signup and view all the answers

Which of these is NOT a 'do' in the provided content?

Be overly pushy and chase short-term relationships (D) Signup and view all the answers

What is the main purpose of keeping your messaging short and to the point?

To focus on the most relevant information for your audience (B) Signup and view all the answers

How can you leverage EZ University and daily "links of the day" emails to enhance your account interaction?

Use them to identify trends and insights that can be shared with your accounts (D) Signup and view all the answers

What is the most important takeaway regarding managing the frequency of your account interactions?

There needs to be a balance and you need to figure it out for each account. (B) Signup and view all the answers

Study Notes

Follow-up Statistics

48% of salespeople give up after the first attempt
Only 12% make 3 or more follow-up calls (4+ calls total)
80% of sales require at least 6 attempts
42% of people are more likely to buy when the salesperson calls back at a pre-arranged time
The average salesperson only makes 2 attempts to reach a prospect
60% of customers say "yes" after saying "no" 4 times
Only 11% of salespeople ask for business every time
57% of customers prefer a low-pressure sales approach
70% of salespeople only send a single email to prospects
It takes an average of 8 cold call attempts to reach a prospect. In 2007, this average was 3.68

Follow-up Statistics (Continued)

65% of salespeople say they cannot find enough content to engage prospects
Only 13% of customers believe a salesperson can understand their needs
Retaining active customers is 6 to 7 times less costly than acquiring new ones
48% of salespeople struggle with effectively communicating value to customers
Continuous training generates 50% higher net sales per employee
Salespeople average 94.4 daily activities, including 36.2 emails, 35.9 phone calls, 15.3 voicemail messages, and 7.0 social media touches
42.5% of salespeople take 10 months or longer to become productive enough to contribute to company goals.
71% of salespeople say they spend too much time on administration tasks

Why Follow-up?

Show accounts you care
Show you understand their circumstances
Express gratitude
Improve customer experience
Address unknown or unresolved issues
Re-open engagement
Boost sales, keeping interest alive
Increase conversion rates
Increase competitive advantage
Have better customer retention
Build trust and credibility for a long-term relationship

Best Practices (In General)

Do's:*
Keep accounts educated and networked with other accounts
Try different approaches if one doesn't work.
Use Salesforce as a guide
Identify pain points
Have a primary topic with backup topics
Be yourself; stand out from the crowd
Clarify unclear points
Offer free advice and resources
Be persistent, patient, and polite
Keep messages short and on point
Express gratitude
Be positive
Don'ts:*
Be overly pushy
Chase short-term relationships
Overpromise and under-deliver
Follow-up too early or late
Be around too much; find balance
Focus on being better than competitors

Best Practices (In-Person)

Do's:*
Visiting in-person is most effective
Use primary and backup topics
Set follow-up meetings
Ask for referrals and warm introductions
Identify best times to visit
Establish a follow-up schedule
Be in the office as little time as possible
Don'ts:*
"Show up and throw up"
Waste time with people who can't help
Keep engaging with dead-end contacts
Show up when the staff is not in the office (e.g., at lunchtime, already gone)

Best Practices (Email)

Do's:*
Confirm referral meetings, defining next steps
Send emails Tuesday and Thursday (or if urgent, other days)
Wait 2-5 days before following up
Use interesting subject lines (humor or referencing pain points often work)
Schedule emails between 10-11 am or 1-2 pm
Provide value in each email
Proofread emails carefully
Close emails with a question
Don'ts:*
Send emails on Monday, Wednesday, and Friday (unless urgent)
Send emails within a day of an unanswered email
Use subject lines like "checking in" or "following up"

Do's:*
Use preferred communication methods
Prepare for the communication
Use the proper tools (e.g., phone number, email, linked in)
Engage on LinkedIn
Use handwritten notes (if appropriate)
Use creative devices to engage (e.g., a clever technique and a letter to VITO)
Don'ts:*
Give up
Abuse cell phone numbers
Be vague regarding needs
Chase accounts indefinitely
Engage in "hot-button" topics
Have "tunnel vision"

Pain Points (Medical Providers)

Phone calls from patients
Dealing with prior authorizations (often unnecessary)
Poorer patient outcomes due to noncompliance
Need more staff
Phone calls with insurance carriers
Negotiating contracts with payers
Employee morale/staff frustration
Employee tendency to switch jobs
Employee turnover
Staff education
Patients not having funds to fill meds
Lack of knowledge about Workers' Compensation (WC) in general
Understanding when a prior authorization is necessary
Lack of knowledge about WC meds
Patient medication adherence
Doctor shopping/hopping
Drug shortages
Meeting patient demand for services

Pain Points (Law Firms)

Consistency of medical care
Client phone calls
High case loads
Chasing down medication invoices
Spending time on non-billable activities
Need for more new clients
Employee satisfaction
Attorney work-life balance

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Description

This quiz delves into the critical statistics behind sales follow-ups, highlighting the behaviors of salespeople and customers during the sales process. Understand the importance of persistence, timing, and effective communication in enhancing sales outcomes. Test your knowledge of essential follow-up tactics that can significantly impact sales success.