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TUESDAY NOVEMBER 20, 2012 A WEEKLY E-NEWSLETTER COMPILED BY SAM GEIST
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MARKETPLACE LESSONS
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An experience my sister had this past week reminded me quite emphatically that we are a species that requires verbal communication in order to understand and appreciate the situation we find ourselves in. Short story, she went to a clinic to see a specialist and was told the wait would be about 45 minutes. Knowing that this was the wait time she sat patiently, occasionally glancing at her watch as the time approached.
However she wasn't taken as promised. She sat and waited for hours - for four of them, to be precise. She became more and more annoyed until in the last half-hour of waiting a receptionist explained that the doctor had been called away on an emergency. Only then did she understand why she had to wait so long--and calmed down.
Transfer this experience to your business environment. How often have you, your customer, your staff not understood why something is unfolding the way it is, or precisely what is going on-and become annoyed? How often would a few words of explanation have ameliorated the situation?
Consider informing, enlightening, explaining to those around you in order to keep them in the loop and onside rather than in the dark and upset. I think it could be a very positive strategy.
LESSON LEARNED:
"There's no downside to providing clear verbal communication to all those around you."
--Sam Geist
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THE STATS
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Speed-to-call is the single largest driver of lead conversion according to this just-released study. These are findings from analyzing results from almost 3.5 million leads generated in the first half of 2012, across more than 400 companies. - Phoning a new prospect within a minute of lead generation improves conversion rates by 391% compared to later times making the first call.
- This figure more than halves in the second minute to 160%, and drops by three-quarters in the third minute to 98%.
- In 24 hours, the number dips to a 17% improvement.
- Although contacting a prospect often requires more than one call 50% of leads are never called a second time. (Data shows that salespeople must be prepared to make up to 6 calls before surrendering).
- 93% of all leads that convert are reached by the sixth call attempt, and just 7% of leads are converted after a 7th call attempt.
- The study suggests that the first 3 of 6 calls should be made within 2 hours of lead generation. (The first call is placed in under a minute; the second between 30 minutes and an hour; and the third between 1 and 2 hours).
- Emails sent in between phone calls raise the chances of achieving contact by 16%.
- The data reveals that the optimal number of email messages to increase conversion during the first month of a prospect's lifetime is 5.
- The most effective contact strategy involves 6 phone calls and 5 emails, interspersed over 22 days.
--Leads 360/Marketing Charts To read the report that includes these stats see first SITE SEEING link below.
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Employee engagement is acknowledged as a critical element in drawing out discretionary effort from workers. In today's workplace where many employees are expected to continue to do more with/for less, engagement is waning over the long term affecting the financial and operational results of the organizations involved. This global study suggests that businesses appear to be at a critical tipping point in their ability to maintain engagement over time. A surprisingly large number don't appear to be keeping pace in terms of how they're managing and supporting the very people assigned to execute the work on the ground. Among the key themes emerging from the study: - Stress and anxiety about the future are common.
- 38% of respondents are bothered by excessive pressure on the job.
- 54% often worry about their future financial state.
- 56% agree retirement security is more important today than just a few years ago.
- 39%t expect to retire somewhat or much later than planned - a figure that might ultimately prove optimistic in light of current savings rates and capital market performance in many parts of the world.
- Security is taking precedence over almost everything.
- 40% of respondents would trade a smaller salary increase or bonus for a guaranteed retirement benefit that doesn't rise or fall with the market (in other words, a defined benefit).
- More than half want to stay with their current employer until they retire.
- 41% also noted they feel they would have to take a job elsewhere to advance in their career.
- Attracting employees is now largely about security.
- Salary and job security top the list of what people want when considering a job, followed by opportunities to learn new skills and build a career, which are also routes to increased salary and long-term security.
--2012 Towers Watson Global Workforce Study
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| THE QUOTES |
"For the past 33 years, I have looked in the mirror every morning and asked myself: 'If today were the last day of my life, would I want to do what I am about to do today?' And whenever the answer has been 'No' for too many days in a row, I know I need to change something."
--Steve Jobs, (1955-2011) Co-founder, Chairman & CEO of Apple Inc.
"When engagement starts to decline, companies become vulnerable not only to a measurable drop in productivity, but also to poorer customer service and greater rates of absenteeism and turnover."
--The 2012 Towers Watson Global Workforce Study
For information related to this quote see THE STATS below.
 We'd love to hear from you.
Please email your
comments or suggestions to [email protected] |
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Connect with Sam Geist
  
Reproduction for publication is encouraged with the following attribution:
From "QuickBites," by Sam Geist. (800) 567-1861 http://www.samgeist.com
Sam Geist lectures, facilitates workshops and conducts training seminars on sales & marketing, the changing marketplace, leadership, differentiation, customer service and staff motivation. His three books, "Why Should Someone Do Business With You... Rather Than Someone Else?" "Would You Work for You?" and "Execute... or Be Executed" are available in bookstores everywhere, published by Addington & Wentworth Inc.
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