Successfully managing leads is a key skill all agents need to master. The problem is some agents don't make follow up a priority and as a result are missing out on potential sales.
Perhaps the reason is they're too busy to follow up with everyone. Or maybe they're just not quite sure what to say to someone they've never met before. Forbes released an article stating that 71 percent of leads are never followed up with. Don’t be one of those agents, instead take a proactive approach to managing your leads and your sales conversion will improve.
1. Organize Your Leads: If you’re feeling overwhelmed or short on time, put your leads into a category allowing you to prioritize your time;
Hot leads (leads that are ready right now)
Warm leads (leads that will be ready soon)
Cold/Bad leads (leads that may never be ready).
You won’t be able to categorize a lead as soon as they come in, but if you spend some time speaking to each person even briefly, you will really get a feel for where they fit within your marketing campaign.
It's also important not to spend all of your time on the hot leads just because they are the easiest and most likely to result in a sale. Do not lose sight of your warm leads, if you ignore them for too long they could look elsewhere and you’ll have to find new leads all over again.
2. Timing Is Key: “People buy when they're ready to buy, not when you're ready to sell,” writes Dan S. Kennedy, Author, Strategic Advisor, Consultant, and Business Coach. Which means when your client is ready to sell, you need to be easy to find. The way to remain accessible to potential clients is to create a system where you’re following up with leads on a regular basis (without overdoing it). Which brings me to my next point.
3. It’s About The Client: Your follow up shouldn’t focus on asking potential clients “are you ready to sell yet?” Especially if you’re making regular contact with that person. Providing value to your client is key to keeping yourself at the top of their list when they’re ready to sell. Your follow up should include 3 main things:
Education: Providing valuable or useful information is a great way to have a consistent dialogue with your prospects without wearing out your welcome. You could include information about their neighborhood, market reports, new available homes, up and coming areas in the city etc.
Repetition: Many studies over the years prove that humans love repetition. It helps information sink in. You will need to regularly remind your leads what your area of expertise is so they don't forget.
Variety: This can refer to both the content of your follow up and the manner in which you contact them. You don’t need to call every time. Social media, email marketing and other forms of media are all great ways of staying in touch with potential clients without being overbearing.
Do What You Do Best
Leads are great, but you run the risk of damaging your reputation if you don’t take the time to follow up with potential clients. To manage leads successfully you will need to develop a system that works for you and set aside time to implement it. Being dedicated, practicing patience and providing your expert advice will see your lead conversion skyrocket.
Do you have any tips to share on how you successfully manage leads? Please let me know in the comments section below.