The traditional ABCs of selling were "always be closing." Coffee was only for closers, and closing was a single, major event. The concept of "always be closing" is valid in that it’s important to always be moving the sale forward.
Too Many Pending Lists Give No Indication of the Last Move Forward
Before Google, LinkedIn, or social selling, Steve Marx, founder of The Center for Sales Strategy, taught that closing is a series of small yeses leading to the ultimate yes that confirms the sale.
Small Steps Leading to "Yes" are Conversions
The concept of conversions comes from the online marketing world. If I see a banner ad and click, that’s a conversion. If I see the webpage and click the call-to-action, that’s another conversion. If I give you my name and email for your premium content offer, that’s yet another conversion. These are the new Glenngary Glen Ross leads that have had several conversions already indicating their interest.
Conversions are Not Just for Online Marketing
Enter the salesperson. If the salesperson gets that first appointment, that’s a conversion. When he or she agrees on an assignment with the prospect, that’s another conversion. If the salesperson gets a meeting with a higher-level decision maker, that’s another conversion.
Don’t Just Measure Your Pending
As a sales manager, it’s important to track what is moving the sale forward. Conversions tell the story behind the list of prospects and pending. Hold your salespeople accountable to show meaningful conversions with each pending prospect. Let them know that until the sale is made, they are accountable for activity that shows the prospect has said "yes" to move closer to purchasing your solution.