Here is How to Increase your Close Rate After a Successful Cold Email Campaign.
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I know we talk about lead generation a lot on this channel in terms of cold email and how to generate more leads for your business. But one of the things that we have had the master over time is conversion rate optimization. And what that is is increasing the number of people that actually buy from your site. So increasing your close rate means if you have 20 sales calls and you close one, it would be closing two instead of one, and that would double your sales. So that's what I want to talk about today, because if you can increase your close rate, you can double your sales without getting more leads from cold email, without generating more traffic to your website. All you have to do is get a little better at closing and you can literally double the revenue coming into your business.
Now we're all salespeople here. But as business owners, I also run websites. Me and Robert do Botfuse. We do X27 and Email10K. We have several websites that we run and we use a few tools for actual conversion rate optimization. One is having an automated chatbot like Botfuse. We also use Hotjar to track how people interact with our site. And there's some other tools that we use. And the reason why I bring that up is it's super important to track numbers so you know where you stand. If you are the person in charge of taking sales calls from a website, how much traffic actually came to that site, and what percentage of them booked the meeting on your calendar?
Because if you can increase the number of meetings, then you can increase the number of sales. And then from the meeting number, you need to know how many people did you meet with and what percentage of those people did you close? Did you make money from it? Because if you could increase that, then you can increase your close rate and increase your revenue. So you need to be tracking these numbers diligently. You can actually start right now. Think about it. How many sales calls did you have last week? And then be brutally honest. How many of those sales calls did you close? And how many sales calls do you think are going to close in the next couple of weeks based on those numbers that you just ran. And it's important to be brutally honest here because you might find that you had 20 meetings and only one person closed.
Typically, the agency conversion rate for inbound leads is much, much higher than that. Sometimes it's as much as 70% when you're just starting out. But it could even at scale be 25%, where you're closing one out of every four meetings that you take as an agency. If you're closing one out of 20 meetings, you have a lot of room for improvement. So let's go through some tips for increasing your close rate.
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0:00 What exactly is the close rate and why does it matter?
1:05 How do we Improve the Close Rate?
2:00 Tracking the Close Rate
2:39 Tip 1 - Don’t lose touch
5:00 Tip 2 - Understand what their needs are
7:00 Tip 3 - Ask closing questions
8:00 Tip 4 - Frame what you are selling as an Investment
9:10 Tip 5 - Put in the time
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