You may also like these news :
How long do you keep in touch with prospects?
A good question that came in: "How long do you keep mailing people on your list if they refuseto buy?" First thing's first: what is your average customer value? Based on historical averages, how much is a client worth to you? If they buy twice a year, you profit $50 per time, and they buyfor 3 years on average - each new client is worth $300 profit toyou. So - based on that number alone - what are you willing to investto get 3 x $100 bills in your hands? Theoretically, you could invest $299 to get a new client - andstill make a profit. Most people want to make more than that though. The key to a great lead generation and follow up system is inthe tracking of results. Each step of the way you need to know what is working - or not. If letter 3 in your follow up sequence is the best performer -and after that you don't see any new sales... you need to revisesteps 4, 5 - through however many steps you have. Sometimes it can take years for someone to buy from you! You may have mailed them 30 times and emailed them 50 before youget an order. But if each physical mailer costs you $2 - you are still only into the lead generation for $60 - you STILL profit $240 after 30mailings. So the question to truly as is - are you tracking every step ofthe way and do you know what the average customer value is toyou? If you know those 2 numbers you will know where in the processyou should stop. Until you know those numbers, there is no fact-based method toknow exactly how much you are willing to invest in your leadgeneration and sales process. Right? [here is a recent research report that backs this claim up:ARF (Advertising Research Foundation) says that one out of everyfive leads generated by advertising converts into a sale for theproduct. Source: Metalworking Marketer, 10/06, p. 3.] Think about that - if you could convert 20% of your prospectsinto paying clients - at a profit - how many times would youfollow up with them? The correct answer is... however long ittakes to get those 20% to BUY!