Only 3%

Written by Bob Firestone
Tuesday, 23 February 2010 21:55

 

Did you know that only 3% of people are looking to buy what you are selling?

  • Right now about 3% of people are consciously in the market to buy new tires for their car.
  • Right now about 3% of people are consciously in the market for a new cell phone.
  • Right now about 3% of people are consciously in the market for insurance.

The other 97% of the population breaks down like this

  • 7% Willing to listen
  • 30% not thinking about it
  • 30% don't think they are interested
  • 30% know they are not interested

This is why the numbers for almost every sales organization are roughly the same 2 or 3 sales out of 10 leads.

When someone gets is put on a lead list at that time they took some action to indicate that they are in the 3% who are ready to buy or the 7% that are looking. This eliminates the 90 percent of the population who are not going to buy no matter what you do. What is left is the 10% who are buyers and potential buyers. It also means that 3 out of every 10 leads are already in buying mode, this is where the sales come from.

The other 7 leads are not ready to buy with out a compelling reason to move up their time table to buy now. Top producing sales people are able to give these reasons to the prospect and close an extra deal or two. On average that still leaves 7 people who could be customers with consistent followup to be the person they remember when they are ready to buy.