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Improve Closing Ratios

Posted by Gardner Pool Plastering on January 14, 2009 at 5:58pm in Business Growth, Expansion, and Current Opportunit
In my experience, in our industry, we should see between 22% to 26% closing ratios. We are currently experiencing about 19%. I am wondering if that is a result of the economy (more lookey-loos, sticker shock...). And aside from that, what suggestions everyone has on how to improve closing ratios. To start the discussion off, I have thought of the Sales Manager follow-up call method as one idea. What else?

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Replies

  • PoolDraw January 29, 2009 at 9:21pm
    Over the last 10 years I have talked to hundreds of pool builders around the country and due to the nature of my product, I often ask about their sales techniques. As opposed to an in-store product sale, a pool sale is a unique enterprise - for the most part, the home-owner has already decided to make a purchase so what you are really selling is yourself. Ken is right when he says that you have to listen to what the home-owner wants - how they plan to use their pool / what's important to them / what the space & budget will allow. It is also necessary to provide some visual examples (photos) of the options available as the typical home-owner won't know the specifics of many features. Some salespeople design in the home, others are more comfortable designing on their own and making a second presentation. The home-owner needs to trust your professionalism, your expertise and your reliability - having a few recent verifiable customer referrals can help build that confidence.
  • Noel Valade January 29, 2009 at 3:53pm
    Ken, So what is your in presation? Do, u use a Lap(Power Point Presentaion), just show pics. and or Lots of Refferals.......or Just Listen Frist and put together a Pool Package that they Want!!
  • Ken McKee PoolScape Pools January 29, 2009 at 3:15pm
    A huge part of my closing ratios are due to my presentations in the HOME! Listening to what the customer wants, not telling him/her what they need.................
  • Gardner Pool Plastering January 15, 2009 at 9:46am
    I agree - the first step is to properly track lead sources and analyze the data. We have this in place. What I feel, in addition, is your comment regarding increasing the "touches" to the prospect - keeping your company alive in their minds, giving more opportunities to possibly close that sale - is right on point. I am going to start a letter campaign to each prospect post-bid as a start. Any more ideas?
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