“You run all of that stuff down early on, everything else flows easily after that. And then you can get this thing sent out. Getting it sent within 24 hours the simplest, easiest way that you can increase your conversion rate.” – Adam Hempenstall in today’s Tip 293
Are you sending your proposal within 24 hours?
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today’s tip comes from Adam Hempenstall. Adam is the CEO & Founder of Better Proposals, where they offer proposal software and also offer Proposal Writing University. If you guessed that Adam’s tip is about proposals. You’d be right! Here he is:
Adam Hempenstall: If you ask most people how long it takes them to write proposals and then send them. I think most of us would agree the three to four days is pretty reasonable. Much longer than that and you start running the risk of them losing interest or forgetting about the meeting and you send it too soon. And to end up with the age-old concept of people thinking that you’re too eager and you’re not busy enough and all that kind of stuff. So there are two schools of thought there. So most people end up just settling with this idea of sending it in about three days. The problem is data says that you should send it quicker. So every year at better proposals we conduct a report of hundreds of thousands of proposals and we look at a whole bunch of different things and work out what converts best. And one of the questions that we asked was; What’s the difference or is there a difference between proposals that you send within three to four days versus say within 24 hours. And what we’ve found is that every single year there is a significant bump in the conversion rate if you send your proposal within 24 hours. So just the most recent report we did, it was 15 %. So is around a 15% increased conversion rate by literally just sending your proposal within 24 hours. And this makes sense, doesn’t it?
So if you imagine going into your recent meeting and you have a great conversation with your client, everybody’s super excited, you’re excited about the project, they’re excited about getting their problem fixed. And at the end of the meeting, the guy or the girl says to you, great, send us a proposal then and then three days goes past and then the weekend and then it’s Monday morning and all that drama. And then you think, “Oh, I’ll send it on Tuesday” and you send it on Tuesday. And by this point all of the laughs and the jokes and the rapport and the understanding and the phrases that they use that you could remember. All of that stuff starts to wash away. Just slowly, little bits of it. And you know, this is before you’ve even started to sit there and trying to write this thing out, everything gets harder the longer you leave it. And that’s only the first part of the problem. The second part is they’ve had that their excitement level is dropping dramatically every hour. So what I would say to you is if you want to have them do the easiest thing you could possibly can, to increase your conversion rate, it would be to send your proposal as quickly as you possibly can after the discovery session or meeting phone call, whatever it is for you. The easiest way I’ve found to be doing this over the years is to simply just sit down immediately after the meeting and just write the introduction at least. That way that you’re writing all the reporting’s important stuff down, the stuff that’s important to them. You know that goal, the solutions that they’re after. You run all of that stuff down early on, everything else flows easily after that. And then you can get this thing sent out. Getting it sent within 24 hours the simplest, easiest way that you can increase your conversion rate. I hope that helps.
Then I hope you’ll come back here within the next 24 hours for another great sale tip. Thanks for listening!