I recently mentioned the importance of following up on calls and emails. Today I want to focus on the cost of not following up.
Imagine if you have a member of your sales team who does not follow up on a call and misses out on a sale. “Oh well, it’s only one sale” you and/or they may think. You then tend to justify that with a “we just got busy, or I ran out of time” or similar type of below the line excuse.
Now image if this becomes a habit and one sale is missed per week. You have 48 sales missed per year. Let’s also imagine your average sale is $2000. Suddenly, we have a $96,000 problem?
So, what is the size of the problem if we have a team of 5 sales reps all missing one sale per week? Now it’s a $480,000 problem. All because we don’t follow up on just one email or request.
Then there’s the reputational damage to your business. “Don’t go to those people because they don’t follow up”.
Have you ever had an experience when someone has not followed up with you? Did you end up doing business with them?