| LAND MORE BUSINESS WITHOUT CHASING AFTER MORE LEADS |
To develop your business, do you find yourself constantly chasing more leads? The truth is, you don’t need more leads—you just need to work on the ones you already have. If you aren’t closing enough business, it’s not because you don’t have enough leads, it’s because you aren’t following up the ones you have. In other words, leads aren’t your problem, it’s follow-up.
The leads you already have. How many leads do you already have on sticky notes, index cards, in email folders, and on various spreadsheets and your smartphone? Is it dozens? Hundreds? Thousands? Now ask yourself when was the last time you contacted them. Mass emails, physical mailings, and automated texts don’t count. Contacting means having telephone and face-to-face conversations. If you’re like most people, your answer is “not nearly enough.”
The importance of follow-up. Some experts say It takes an average of 8 to 12 touches to convert a lead, yet most people give up after two or three contacts without a close. Instead of continuing to nurture those leads, they move on to spending time, energy, and money to bring in new ones.
An easy follow-up formula:
Organize your database of leads. Put all the leads you’ve collected on paper and in digital files in one place—on your computer, phone, or an old-school notebook. Then rank them according to how ready they are to transact: hot, warm, or cold.
Make a plan for your follow-ups. Consistency is key, so establish how frequently you will contact each type of lead—hot, daily or every other day; warm, weekly; cold, monthly.
Commit to cultivating relationships. The goal is to establish relationships to nurture, not to build a pipeline to work.
Be sure to add value with every contact. Provide product and market updates, answer FAQs or specific prospect questions; or offer advice relevant to their situation. Make the contact about them, not you. This avoids giving leads the impression they’re just being hounded by a pushy salesperson.
Track your efforts. Avoid flying blind. Maintain a log of who you have contacted by phone and in person. This keeps your efforts intentional.
Persist. Remember that it will take 8 to 12 touches to convert a lead, so don’t give up after two or three contacts.
| The fact is, the leads you already have are a goldmine waiting to be tapped—you just have to master the art of follow-up. Once this fact sinks in, you might at first feel overwhelmed. Don’t. You don’t have to contact them all right away. You just need to start. Of course, the hot ones are where to begin. |
