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How to Reduce Cancellation Rates

Do you have high cancellation rates or no-shows? My client Sandy did at one time. She learned how to reduce cancellation rates. This is a growing problem in B2B or B2C selling.

Meet Sandy, who sells senior insurance products to consumers. She often expressed to me her frustration in showing up for an appointment and no one is home.

OR

Buyers making an appointment at her office and not showing up.

As someone who once sold senior insurance products, I can attest cancellation rates can be high. I wish the technology I am about to share with you was around when I was selling B2C!

You’ll learn in this article a unique way to increase your odds that the buyer will want to keep an appointment with you.

Case Study: Sandy

My client, Sandy, began using a technique that I’ve been using for almost a year. The testing I’ve done has proven successful and now I want to pass on this unique strategy to you. 

Before using this technique Sandy’s cancellation percentage was around 28-32% a week. She often needed to triple book appointments to guarantee at least one appointment would hold. She came to me because she began to question her abilities to sell.

Sometimes it not the inability of the salesperson, but the nature of the product..high cancellation rates, no-shows, terminating contracts after the sale, etc.

Sandy needed a new and different way to build trust with prospects. She began using video before the sales appointment. 

Let me explain…once an appointment has been set, most salespeople will call or email a reminder either the day before the appointment or the day of the appointment. Some will take it one step further and drop a reminder card in the mail if the appointment is a week away. 

This is what everyone does.

Do the Uncommon

Using video is not commonly used and I’m suggesting that you jump on the bandwagon now before it becomes a thing of the past, like email.

So let’s play out this scenario. Whatever product you sell, let’s say you’ve just set the appointment with the prospect over the phone.

Step 1:

Before hanging up plant the seed by telling the prospect to expect an email from you that will give her more information about the upcoming appointment. You can say..

”This is an important decision for you and I know you don’t want to make any mistakes. Insurance can seem complicated. I’ll break down the process for you in a video. So when I come to our appointment you’ll have a clear idea of the process which will save you time, money and avert any mistakes. Make sure you take the time to watch the video before our conversation on ____”

Get the prospect’s commitment to watch the video.

Step 2:

Then create a video, and keep in mind to simplify the process by putting the emphasis on education in order to avert mistakes, save time and money. Try to keep the length of the video to 3-4 minutes and include attachments that will help with the education.

Step 3:

When sending the video email, only leave a short message in the body of the email…

”This short video will help prepare you for our upcoming appointment on____. Looking forward to meeting you.”

Results:

Sandy began doing this and her appointment cancellation rate went from 28% to less than 5%!

What Sandy and I use is a technology called BombBomb and they offer a 14-day free trial. I’m not an affiliate, I just love their product.

My newsletter is now powered by BombBomb! Many of you have reached out and asked about this type of video email marketing. That’s why I decided to share with you a client case study and my own experience of using BombBomb. I wish I had this in my insurance days!

So why is this powerful…

  • The prospect can experience you before the appointment. They see you rather than try to imagine you through a phone conversation. You become more “real” to them and it begins to build “trust”.
  • It’s different and few people use video email effectively or at all.
  • And I’ll just say this…You’re better in person, right? 

Whether you’re struggling with high cancellations or struggling with your emails being opened and read, you might want to try a different approach. Video email marketing is the present day way to stand out in the marketplace.

Are you currently using video email marketing…I’d love to hear what platform you’re using. Leave your thoughts below in the comments!

Christine Harrington is the Savvy Sales Lady, helping sales teams and individuals win more sales through a unique way of selling called Peak Performance Mindset. Christine brings 40 years of selling experience with Fortune 500 Companies, to help you shorten the learning curve, move past your selling blocks and position yourself as a Peak Performer. Sales Leaders, Sales Managers, Sales Teams, Small Business owners and their employees have captured their edge by attending Christine’s Peak Performance Mindset Workshop and Coaching. Learn how she can help you or your team. Get the edge by clicking here

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