Increase Sales by Mastering Your Closing Ratio: 5 Proven Tips

How well are you doing with the leads that you have in front of you? Are you tracking your closing ratio for the company? Are you tracking your closing ratio for individual employees? If you're not, I want to challenge you to start. If technology is in your way or if you just don't know how to do it, get on the phone with your production management software platform. Get on the phone with those folks – I'm sure they'll be able to help you. If they can't, just come up with a simple spreadsheet. If you need help with that, just book a call with me. In five to ten minutes, we'll put something together, and you'll be off to the races. Don't let technology get in the way of tracking your closing ratio.

Here are the things that I see really successful, disciplined companies doing when it comes to handling their leads:

1. Immediate Contact and Urgency: They make immediate contact and do a great job of creating a sense of urgency. They don’t put roadblocks in front of the person who is calling. They don’t ask them to call back once they've had a plumber out or once they've filed a claim. They create a sense of urgency and get right out there. Immediate contact and a high sense of urgency within the team are crucial.

2. Rapport Building: I listen to a lot of call recordings, and it's a goldmine of information. If you’re recording your calls and not listening to them, you’re missing out on a great tool for coaching your team to better performance. Remember, this is someone’s home or business that has been damaged. Building rapport is essential. They need to trust you, and it goes a long way in terms of getting a contract signed.

3. Consistent Follow-Up: Don’t just send the estimate and wait patiently for days or weeks. You’ve got to follow up. You can't be too busy to follow up. If your mindset is, "I'm too busy to follow up," your closing ratio is probably suffering. Multiple follow-ups with the insured, with the TPA (if there is one involved), are crucial. Consistent follow-up is key.

4. Ask for the Business: I read this great book by a guy named Noah Kagan, and in the opening chapter, he tells a story about his father embracing rejection. He embraced getting nos from prospects because he knew that with enough nos, there would be yeses to come. He would say to his son, "No ask, no get." Make sure you're asking for the job.

5. Log Everything: This is the boring part that nobody likes, but it's essential. Log everything in your CRM. In your weekly meeting with the people responsible for getting signed contracts, you want to see what their actions have been – or their lack of action. Every contact must be logged.

Alright, I know those five tips aren’t revolutionary. What separates the poor performers or the average performers from the high performers is the discipline around these tips. They’re not doing anything unique... they’re just doing it in a very disciplined way and tracking the results. If you need any help, don’t hesitate. Book a call with me and we’ll talk.