The process of turning prospects into new clients isn’t complicated, but it can definitely be tricky. Sometimes agents focus all their attention on generating leads, and while this is of course important, it means that following-up with those leads gets treated as an afterthought.
This is a critical mistake in lead conversion. Without a follow-up strategy in place, leads can go stale, fall through the cracks, or worse – you could actually be driving them away.
Since every lead is a possible source of new business, it seems obvious that we should contact and qualify every single one, yet many agents struggle with this concept. They try to “cherry-pick” leads, only calling those that look best on paper. Or they procrastinate, delaying or putting off calling while the leads quickly cool off. And some hide behind email-only follow-up, hoping that a message in the lead’s inbox will prompt them to call.
The reasons why agents do these things are many and complex – that first direct contact with a lead is something that digs deep into people’s psychology. Perhaps it’s a fear of rejection, something burned into agents during long nights of cold-calling. For others, it might be a lack of confidence or skill in the phone call. I’ve heard different reasons from all kinds of agents. But with even a little extra thought and preparation put into the follow-up process, lead conversion (and profits) can be dramatically improved.
The key is in developing a SYSTEM to make sure no leads fall through the cracks. I like to look at it as a three pronged approach:
1: Call Back the Lead
Most visitors are willing to leave a phone number if you ask for it. Quite often their mobile number is the best one to have. You can also do a look up on 411.com if you have their name and address and are looking for alternate phone numbers. I most cases a lead is not going to turn into business unless you speak with them in person. If your call back strategy is effective, you will generate more deals.
2.: Short Term and Long Term Email Marketing Plans
As an Internet Marketer I know that my email list is one of my most valuable assets. You CAN get more business from email marketing, but you have to be smart about it. Once you have established your prospects timing and motivation, you can stay in contact with them through your email drip campaigns. The best way to engage your prospects is to provide them with valuable content that fits their situation (first time buyer, empty nester etc.) Some of the content can be provided in the email and the rest can be accessed by cliking on a link that will take them back to your blog or website.
3: Direct Mail (yes, I mean snail mail)
Quite often, you will also get a mailing address when a lead is submitted through your website or after you have qualified them with your phone follow-up. Why not send the prospect a report with a hand written note attached to it? Again, the key is to send relevant information that fits their situation. If you provide the prospect with something of value, they are much more likely to reciprocate.
This week, we launched the latest in our Agent Secrets Video Series, this time on the topic of building a follow-up strategy. In this video, we explore the how to make every lead count and some of the best strategies that we know are working well for our clients.
Don’t let poor follow-up be one of those “silent killers” that holds your business back!
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