Lead Generation is ½ of the Equation; You are the other Half! Last year during the Christmas holiday season, my assistant and I decided to make ten (10) gift bags and personally hand-deliver them to prospective clients. My goal was to follow-up with those businesses several weeks after the holiday season to check in with them to ask: How can I help?
When I decided to follow-up, guess what piece of the equation was missing? I assumed my assistant kept a list of the businesses in which we delivered the gifts, and I assumed wrong. Because I didn’t ask the question, I am certain I missed out on ten (10) possible business opportunities by not following up, no matter the underlying reason.
I don’t want that to happen to you or your business, so in my “lessons learned,” this week, I will share with you why follow-up is important and provide a few suggestions on the best ways to do that.
First things first… do you have a Marketing Plan or Marketing Strategy? If you don’t, know that your competition does and that puts them far ahead of you in the marketplace. Marketing strategies include the fundamentals of preparing a potential lead to buy your product or service without leaving any second thoughts or doubts in their minds that you are the only one to provide this service or product.
Here are a few statistics for you to consider:
48% of sales people never follow up with a prospect
65% of companies do not nurture leads they paid to get
25% of sales people never make a second contact
ONLY 2% of all sales are made on the FIRST contact.
1% conversion rate on a mobile shopper
73% of business to business leads are not sales ready because neither you or them know what they want
50% of qualified leads who say they are ready are still not ready
79% of all leads never convert because no one is nurturing the leads – YOU must FOLLOW-UP
Following up with your customers is the most crucial part of your marketing strategy.
Why? Here are a few reasons:
Simply put… Customer Relationship Management! Your customers want a medium by which to contact you. It makes them feel they are the reason you created your product. Therefore, the follow-up system enhances this communication.
Create energy around great expectations. In other words, this equates to the “what’s next” for your customers.
Following up is synonymous with customer service, hence, there’s a high possibility that your brand may spread amongst other potential customers without your knowledge, which is a beautiful thing. It’s easy marketing with your customer as your greatest asset.
There are many reasons you should follow up with your clients. Chief among those reasons is just plain courtesy. Typically, when we talk about following up, we tend to relate this process to emails, which may be easier. However, it could be viewed as the most benign and impersonal. So, the key is not easy; the key is to expound on creating a personal experience for your client or potential client.
The ONLY difference between a CONTACT and a CONTRACT is the R and the R stands for RELATIONSHIP
Either way you choose to follow up, the type of processes you execute will determine if you gain clients, retain clients or lose them altogether. Let me show you a few ways to retain and gain:
Pick up the PHONE.
The first way to create an experience is to pick up the phone, simply call your client. It takes about as much time as the email you wanted to send. The difference is s/he can hear your voice and your excitement around gaining them or retaining them as a client. Talk about their daughter’s high school graduation or their next luxury car purchase. Then, don’t ask, rather SHOW them how you can help grow their business. At this point, talk is cheap, and just like you aren’t looking for the easy follow-up, your client isn’t interested in just another sales pitch. Show them the money!
Don’t forget the CONTRACT.
One of the main reasons I ask my clients to complete a profile and questionnaire is because I want to first make sure the fit is right. Beyond that, I want to attend our first meeting with a contract in hand. I don’t leave home without one. Case in point… I just recently signed a major deal with a roofing company. I met with the potential client and knocked their socks off with my presentation. The owner explained he’d get back with me in the next few days. Before he could leave my office, I was already adding his company to my database for follow-ups and strategizing the next steps. Before the end of the day, the owner contacted me asking when he could sign the contract. Within a matter of three (3) hours, I had sealed the deal. Why? Because my preparation met an opportunity. In other words, it was not lead generation or the sales call that closed the deal, it was me.
Nod and AGREE.
I am a huge proponent of Grant Cardone's strategy to agree with your client or potential client. This is not the same as “the customer is always right.” Your client understands what s/he want; they have a vision. Your job is to agree that they can get it done, but they need you to help them get there. This builds mutual trust, and your prospect will have a much easier time finding that your partnership is a good fit. Earlier I discussed email and when it may be okay to use that medium. Email or a follow-up phone call can achieve this goal. Prepare by going back through your last meeting notes and find an important statement that you and your customer agreed on. Then in your follow-up, restate how aligned you are on that point. This will go a long way in your client believing you are the right person to work with, and it gives you an advantage. Why would a client consider other options when you’ve already established you have the same vision? By restating your similarities, you make it much harder for your client to walk away from you.
After reading through some of my tips, rate your follow-up game? Though I’m not your client, here’s a great opportunity to activate your follow-up game:
CLICK HERE to complete the pre-consultation questionnaire then schedule your business strategy session with me.
Further, if you haven’t already, purchase your personalized copy of my book, Navigating the Entrepreneurial Journey” CLICK HERE and order your personalized signed copy. Don’t miss out on more great tools and resources to help you step up your game. Customers have described my book as an “MBA in a box” and a “roadmap” to guide you up the mountain to success.
Your clients are counting on you and so am I. Show me that you are up to the challenge. Follow me on Facebook, Instagram, and Twitter @Dr.RickG and on LinkedIn @DrRickyGallaway and comment: #FOLLOWUP!
Your brother in growth,