The world of Non-Banking Financial Companies (NBFCs) can be a challenging terrain to navigate, particularly when it comes to the loan sales cycle. There is one key component, often underestimated, that determines the success or failure of these cycles - the art of the follow-up. Why does the act of following up hold such weight? What makes it crucial in this process? And how can modern tools, like a Sales Playbook Automation Platform, make the entire process more efficient?
To understand the significance of follow-ups, let's take a look at a revealing statistic. As per a 2020 research study by InsideSales.com, 50% of sales happen after the 5th contact with a prospect, but 44% of salespeople give up after just one follow-up. It underscores the simple truth that persistence is key.
The Follow-up Factor: The Game Changer in Loan Sales
Follow-ups are not just about reminding your prospect about an unpaid bill or an unattended phone call. They're much more than that. Here are a few reasons why the act of following up holds significant importance:
- Building Trust: Repeated interaction establishes reliability and trust, both of which are cornerstones for a successful sale in the financial industry.
- Showing Commitment: When a sales professional consistently follows up, it displays dedication and interest in providing a solution to the client's needs.
- Staying Top-of-Mind: In a saturated market, follow-ups help in keeping your offer fresh in the prospect's mind. This significantly increases the chances of conversion.
Challenges in the Follow-up Process and How to Overcome Them
The path to consistent and effective follow-ups isn't without obstacles. It requires strategic planning, consistency, and a significant investment of time. Traditional training programs and conventional Sales Enablement tools may not offer the required efficiency and effectiveness. This is where modern approaches come in, specifically, the application of Sales Playbooks and Sales Playbook Automation.
Sales Playbooks can be considered as the 'play by play' game plan for your sales team. They are a comprehensive guide that includes best practices, methodologies, and prescriptive advice on how to handle different sales scenarios - like when and how to follow-up most effectively.
Sharpsell, a Sales Playbook Automation Platform, can serve as a pivotal tool in enhancing your follow-up game. This innovative solution not only helps standardize sales methodology across teams, but also replicates deal-winning behavior at scale. It serves as a co-pilot, aiding the salesperson through every stage of the sales cycle.
Here's how Sharpsell can revolutionize your follow-up process:
- Just-in-time content: This feature provides real-time guidance to salespeople, offering insights on the perfect time for follow-ups.
- AI-powered roleplays: These help salespeople prepare for diverse follow-up scenarios, improving their skills and response strategies.
- AI-based nudges: The platform can integrate with the existing CRM and send timely reminders for follow-ups, ensuring no opportunity slips through the cracks.
- Need analyzer: This feature assesses the unique needs of each customer, enabling personalized follow-ups that resonate with the clients.
In an industry where Sales Readiness is of paramount importance, adopting an efficient system like Sharpsell can be the difference between closing a deal or losing one. By incorporating a strategic follow-up plan into your Sales Playbooks, you not only bolster the chances of conversion but also build lasting relationships with your clients.
The art of the follow-up in the loan sales cycle is a testament to the age-old adage, "Persistence pays". And with Sales Playbook Automation, this crucial element of the sales process can be seamlessly incorporated into your sales strategy, ensuring your team is always primed for success.
Remember, the power of persistence and the right tools, like Sharpsell, can make all the difference in the highly competitive landscape of the NBFC industry. So, how ready are you to revolutionize your follow-up process?
To know more email us at hello@sharpsell.ai or contact abhijit.paul@sharpsell.ai
What’s a Rich Text element?
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Static and dynamic content editing
A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!
How to customize formatting for each rich text
Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.
zdxfhgfg
- sdnslk,xdv
- SDlknjsdv
- SDvlknj
- sdgdf v
