When you get a good lead, it is absolutely vital that you convert it into a sale.
The difference between converting 1 out of 4 leads into a sale versus 1 out of 3 is a phenomenal amount of money over a 3-year period.
You need to get your sales conversion right.
There are so many ways to increase your sales conversion rate, but here’s one that is very easy to do and has a high predictability of success:
Offer a Last Minute Downsell.
It works like this: If after pitching your main product or service to the potential client, you intuitively feel that they are not going to buy, switch to a lower-priced alternative.
A typical script for this might be as follows:
“There’s one other version we offer that a lot of people love- it allows you to get most of the benefits of our primary service, but for around half the price. Would you like me to take you through it?”
That’s all there is to it. It’s that easy.
It works because the reality of selling a medium to high-priced service is this: Most of the time, the potential buyer will not tell you your price is their main objection.
Many are uneasy revealing that and would much rather just quietly end the meeting.
When you offer the Last Minute Downsell you greatly increase your chances of getting a sale. And once they work with you and trust you more, later down the track you can then upsell them to the original option – and even more expensive alternatives.
It’s such a simple technique, but it’s rarely used in most industries.
And they make far less money as a result.