What’s Your Close Ratio?

The past few times I have spoken to a large group, I have had a few people say they had a 10% close ratio when they meet with Brides. I hear that from time to time, but it seems lately I am running into this issue more. I’d like to cover a few points on this issue today.
When meeting with Brides (I am speaking of the face to face kind of meetings, not to include the face to face meetings at bridal shows- just the one on one appointments that you have with the Brides) you should have a closing ration that is between 60-90%. That is your sweet spot. If you are above 90%, you need to start raising your prices. If you are below 60% you need to work on your sales skills. Lately most people I have spoken to have been around 45-50% (though by admission, few have a trackable system and are “guestimating” what their close rate is. Few people would guess too low, most would guess high, that is why I am concerned)
Getting Brides to the appointment is one of the tricks of the trade. You get far fewer Brides to meet with you than you obviously market too. The Brides that take the time to come meet with you are precious. If your close rate is very low, you may need to work first on qualifying them on the phone prior to meeting with you. Here is some qualifiers I would suggest:
• Is there anyone else who will help you make your decision?
• Have you had the opportunity to shop around a little for (whatever it is that you do)
• Tell me roughly what you are looking for with (fill in your stuff here)
• Have you ever bought (fill in your stuff here)
By quickly finding out where they are, you arm yourself with a great deal of potential preparation to help things go your way. For example, if she keeps firing off about “price/budget” and that s all she keeps talking about, I would reply, “Sounds like you’re on a strict budget- true?” and let her answer. She may ramble on about how she is stuck to “x” budget and will not move off it. If “x” budget is in your range, make it seem like a struggle to make it happen. If “x” budget is not in your range of what you offer, you decide if you want to let her go or not. Some of you out there will transform yourself to her budget as opposed to ramping up your marketing to find more Brides who may spend more money with you.
Other times issues may arise with having the person who she will use as an excuse to leave because “I need to go speak with so-and-so and I’ll get back with you. These “be-backs” rarely do. They have an issue with you which is being left unturned or truly is someone they need to confer with who only gets 1/50th of the presentation that you gave, given to them. Get them to the appointment so they can make the decision there.
There is a figure given out by Syracuse University that states 92% of people who say they want to “sleep on it” are simply being polite and don’t want to say no to your face. By eliminating these girls who for one reason or three others do not want to book with you then, you can stop being a professional annoyance (you know what I mean- calling up everyday to see if she sent the contract in yet) and get on to finding a Bride who may book with you.
The last scenario I would like to point out is when the sale is never asked for in the first place. By presenting your product, it is your right and your duty (to you and your business) to ask for the sale. Asking for the sale can be as simple as “should we do some paperwork”. There is a fine line between looking like a used car salesperson and not. Be careful that you do not cross that line.
Selling is a crucial part of doing business- if you are not improving on your closing rate, you are leaving business on the table.
Until next week, Here’s to your Success!


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