FRANCHISE SELLING TIPS: # 11 TOO MUCH OF A GOOD THING?

I accompanied by my wife, we set out recently to buy a new car to replace the one she uses. We visited a Nissan dealer for the Quest, a Chrysler dealer for a Dodge Caravan, and a Honda dealer for the Odessy.
In all dealerships we indicated we wanted a new vehicle to replace ours that has 100,000 miles on it, said we were cash buyers, and were "just looking around and gathering information". In all three instances, we left the dealerships and no one had asked for our name or phone number.

Were there so many prospects that we just "slipped through the cracks"?

Part of the dynamics of sales has to do with careful planning, managing, and decision making regarding "what to do with your leads/prospects/candidates". What we witness happening among many brokers today is paralleled by the experience detailed above. Many brokers have too many prospects, and this may be causing a serious problem.

What to do? Start out by doing a little math:
You need to figure out and know exactly how many leads per month (average) you have generated over the past 12 months. You also need to calculate how many "applications" or "requests for consideration" you have received over that same 12 month period.
Next, determine how many leads it takes to get to one application. If you are like most brokers, it is going to be somewhere between 1/40 to 1/100.

If you have a sales staff that is "flying through leads" like there is no tomorrow looking for 6" putts and lay-down sales, your company is really suffering as a result.

Here is the only way to solve the problem:

IF YOUR RATIO IS 1 "APPLICATION" FOR EVERY 50 "LEADS",
YOU NEED TO RAISE THE BAR TO THE NEXT LEVEL.
ASSIGN YOUR LEADS IN GROUPS OF ONLY 25, AND REQUIRE
AN APPLICATION OUT OF THAT GROUP BEFORE THEY
GET ANY MORE LEADS.

Here's what will happen on an immediate basis:
(1) Much more care will be taken with each individual inquiry;
(2) Your sales staff will have to learn to be more productive;
(3) Your "application" ratio will be cut in half; (
4) Your sales will accelerate. Isn't this what you really want?