Placing asymmetrical bets

A built-in advantage of targeting one vertical is it forces persistence.

Here's what I mean:

Statistically speaking...44% of salespeople give up after getting one no. They approach somebody, and the person says no, and they never go back to that person again.

22% more salespeople give up after the second no.

14% more give up after the third no.

12% more give up after a fourth no.

Whatever you're trying to sell, 92% of salespeople will give up after being told no.

By having a narrowly defined target audience, you eventually circle back to the same buyers multiple times. Since 60% of buyers finally say yes after 5 no's, your chances of getting a yes improve each time you ask for the business.

Questions to ponder:

👉 What is your sales follow-up process? 

👉 Are you or your sellers giving up after one no?

CQ

P.S. Richard Fenton and Andrea Waltz, authors of "Go For No," inspired this post. 👇