But actually I believe it’s using technology to deliver the personal touch!
Let’s explore which parts of a typical* sales cycle we could help by introducing video technology?
|Traditional Methods||Using Video|
|1||SM, Ads, Mail-shot, Text email, Tele-Marketing, Event||SM, VM|
|2||Phone call, initial meeting||SM, VM|
|3||Phone call, initial meeting||CVC|
|7||Phone call, Social event, SM||SM, VM, CVC|
VM = Video Mail
CVC = Cloud Video Conferencing
SM = Social Media
* sales cycles may vary depending on product or service type e.g. you may require to demonstrate hard of software.
Well basically the only finite resource we have is time, so put simply to increase our productivity we need to do more with what we have!
You manage and mine your data base, and measure your results based on your own set of metrics:
100 text emails sent produce a 5% response.
What if a 100 video mails* sent produce a 20% response?
So if you measure by ratio that’s a 20:1 versus a 5:1
Video Mail allows the recipient to instantly re-act (with a click to say if they liked your video) and to respond by video or text email (i2i) how warm is that?
This allows you to decide when and how to follow up with this prospective customer!
How we best qualify our leads will depend on our level of experience, is it best to qualify over the phone or face to face? Given a high percentage of how we communicate is non verbal (7-38-55 rule), I hope you agree it’s far better to engage or i2i!
Dr. Albert Mehrabian, author of Silent Messages, conducted several studies on nonverbal communication. He found that 7% of any message is conveyed through words, 38% through certain vocal elements, and 55% through nonverbal elements (facial expressions, gestures, posture, etc).
Applying traditional activity methods a salesperson generally attends, depending on geographical territory, 2 to 4 qualified lead meetings in a day, each lasting around 20 to 30 minutes, and at the end of your sales cycle wins an order from every fourth meeting (ratio of 4:1) they could attend more by setting out very early and getting home very late in the evening, but this is widely considered a poor work-life balance and an enemy of productivity and staff retention, we don’t mind paying for all that mileage as long as it brings in orders…..or do we?
So a working day from 09:00 to 17:00 with 1 hour for lunch provides us with a potential for 12 x 30 minute periods, for face to face sales meetings in the day to identify the needs of your prospective client…..impossible I hear you say, unless the potential clients come to us or we time travel…..
or we use video conferencing to meet!
12 sales meetings in 1 day, how often does that happen in your company, and without the salesperson leaving home, you do agree with remote working? or you really don’t mind paying for all that mileage…..
I understand that it’s hard to accept if you do not work in any kind of video culture at the moment, but it is a reality for many companies that have embraced video and moved to newer ways of working or should I say better ways of working.
Consider the productivity potential, based on a 4:1 ratio that’s 3 times more orders for the day or at worst 3 times the amount of prospects into your pipeline!
Salespeople achieving 12 sales meetings a day should be given 2 days off a week…or is that a bit drastic at this stage…
I chose sales as an example because their activity is usually readily available and easy to measure using your metrics, a wise man once told me to focus on sales because; generally nothing happens until something is sold! and that Sales meetings are our life-line, but don’t forget that we can’t invoice a good meeting…
When you begin to use video and start to realise the benefits, you will start to look at other work flows in other departments and consider how video can help them also.