By Steve Lapa
Lapcom Communications Corp
President
There is something about 40.
40% of Q1 2023 podcast advertisers did not return for Q1 2024, according to Magellan AI.
40% of small businesses failed within the first three years, according to the Bureau of Labor Statistics.
40% of all workers were prepared to quit their jobs two years ago, according to a McKinsey Study. 43% of email professional recipients open email on a mobile device, according to Statista.
44% of sellers quit the pursuit after the second call according to Scripted. Really? Almost half of the sellers reading this column give up after the second call? That statistic must be wrong.
Consider your typical sales day – prioritized, focused, clear goals established, with all seasonal and timely deadlines plugged in and ready for execution. Successful sellers put as much time and focus into planning and organization as they do into the sales process. So, why quit the process after the second attempt? There are only three reasons any experienced sellers would give up after the second attempt.
1. Poor targeting.
2. Unrealistic expectations.
3. A negative business condition requires a new approach.
Reason #3 is the answer to why I listed the 40% factor. Professional sellers and managers sometimes lose touch with the realities of local business conditions. Attrition has always been the enemy of local sales, yet managers and sellers rarely plan for it. Budgeting and analysis are easy paper exercises. Old fashioned ear-to-the-ground market “research” is equally important. Those who learn to balance the formal and the informal find themselves winning the battle of the 40% factor.
As we approach the second half of the year, with elections, seasonal sports, and major holidays ahead of us, time to sharpen our pencils and tweak the projections for the remainder of the year. And always remember your pencil should have an eraser.
Happy Selling!
Steve Lapa is the president of Lapcom Communications Corp. based in Palm Beach Gardens, FL. Lapcom is a media sales, marketing, and development consultancy. Contact Steve Lapa via email at: Steve@Lapcomventures.com.