Podcast: The problem with sales
Sales can be a bit of an emotional roller coaster.
There’s no denying it.
Without a solid understanding of our sales data, this can lead to emotional and oftentimes poor decisions for your business.
In this video, I discuss the importance of removing emotion from your sales process and why it’s so important.
So recently I was running some ads with Facebook and I wasn’t getting the same results with it. I was getting a really high volume of leads, but I wasn’t getting that same conversion rate that I was used to now. Emotionally, what happens is we tend to talk to a lot of people. We don’t really associate where they’re coming from and we’re not getting that same result we have had in the past. And so what naturally, automotively what I was thinking was that something had changed. I was doing the wrong thing. I needed to adjust my business model, all this kind of stuff. These are the natural things we tend to start thinking in sales and sales itself can be quite brutal even when it’s going well, because a lot of the time you’re still not, you still have to get through a lot of nos in order to find obviously the yes is the people who are.
But what was really helpful was having an understanding of the numbers and where the nos were coming from and where I needed to focus my effort. And to understand that things as a whole were still really strong and where I needed to put my attention. So what does this mean for you when it comes to data it’s really important to understand your business? And how the data can help you make the right decisions and not to let emotion drive decisions. Because like I said, sales can be a super emotional rollercoaster, even when things go well, things tend to dance around an average. Just like if you were to go to a casino and look at the results on a roulette board, they then not ever red, black, red, black, red, black, red, black, they tend to get these flows, red, red, red, red, red, black, and it looks like it’s favoring a certain amount.
And then it might come back around to black. It eventually, even though you get these weeds skews, it does tend to dance around the average. And I’m found that to be true. The data backs that up as well. You might get a bad run of sales for a time being, but if you stay consistent to the process of process that you know, then it will come back around, it’ll dance around the average. And that’s why it’s really important. First of all, what is your conversion rate over time? Make sure you keep track of how many people you’ve talked to and how many of those people have converted. Because when you know your conversion rate, you can have faith in the numbers. You say, look, I just need to talk to this many leads.
And I know I’m going to get this many sales so you can really just focus on, alright, I need this many leads this month to get this much in cash flow. The second thing that’s really useful to know. That same conversion rate on the different platforms. So you understand where you’re getting the better leads or the better quality leads or the better conversion rate on each of the platforms and the better ROI. So you can start to see where your time is more valuable or better spent. So if you need any help with how to track ROI or in your marketing platforms. Yeah. LinkedIn lead generation, of course, and how to track your actual sales conversion rate in a nice, simple way that doesn’t require learning any sort of funky new system feel free to reach out.
I’ve got some great resources but regardless, make sure that you have a way to track this information, remove emotion from what can be quite an emotive or emotional rollercoaster, sales and marketing, and make sure you understand your data so that you can really guide you. In the right direction and not keep chopping and changing something that could be potentially working very well.
So that’s my tip for today. Listen to the data, understand the data and don’t get caught up in emotional decision-making. I’m Ryan Caswell from B2B leads.com as always have a great day. Cheers.
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