09 Aug Follow-Up, Turning Leads into Customers
When working with traditional businesses, it is a much different experience to convert leads into sales. As an agency that commonly provides our customers with a high volume of leads, I decided it would be important to provide a handful of basic tips to increase your closing ratios with fresh warm markets.
Follow up ASAP
No matter where your lead comes from, it is absolutely critical to follow up with them immediately. I commonly see business owners losing easy opportunities for new business simply because they are taking far too long to contact fresh prospects. When a person fills out an online form, walks in your business, or reaches out to contact you in any way, that means the individual has an interest in your product/service! They have put some amount of effort into obtaining information about your business. They are now a WARM lead and likely a potential client. Do not let them slip through your fingers, we always recommend all new leads be contacted within 12-24 hours of their first inquiry.
*Note: On average it takes 44 hours for a business owner to respond to an internet lead. This an absurd amount of time. if you want to make a sale, don’t be that guy*
Ask Qualifying Questions:
Everyone hates to be pestered. Be sure that your initial follow up has a strategy. This will set the stage for your relationship with each prospect. In my sales process, I always include a handful of open ended qualifying questions. These are questions that allow you to talk about the client’s need for your product in a non-threatening way. This will allow you to quickly determine the customer’s buying temperature while you simultaneously begin building rapport.
A few examples of generic qualifying questions:
- What are you looking to accomplish?
- What is prompting you to inquire about this now?
- Have you tried to solve this problem in the past? If, so why did that solution not work?
Follow up Again
Not every lead will be ready to buy out of the gate. But in no way does this mean they won’t purchase when you pursue them. Converting a lead into a customer is all about your follow up. In fact, research shows that 50% of leads who are qualified to buy, will buy on the 5th contact.
Your goal should be staying relevant with all of your prospects, but only in a way that maintains a valuable relationship. Typically a successful sales process is composed of a predetermined follow-up schedule. For most of our customers, we recommend following up at least 15 times over the course of 30 days. In order to do this effectively, you must leverage nearly every point of contact possible. This means reaching out to your prospects via Phone, Text, Email and Social Media. Remember a majority of all sales are made after the 7th contact.
*Tip: I highly recommend investing in a CRM system. This will allow you to log all sales activity. I personally use Hubspot CRM“.*
We have all heard the ever so common saying, “when the value exceeds the price, customers will buy.” That’s because it’s completely spot on! If you want to quickly convert your warm leads into happy customers, you must put a heavy focus on establishing value during your sales process. A great example of this is when we create a landing page for any client, one key component is creating value packed automated follow-up emails. The purpose in doing this is to immediately build trust and establish our clients as the authority in their niche. When you’re in “sales mode” everyone knows what you want, sales! If you continuously provide value, then your warm leads will easily convert.
Remember, sales are a game of tactful persistence. A majority of my best clients took weeks and even months to nurture into a business relationship. Just because you hear “not interested” at some point in your process, does not mean they will never purchase.
Just keep your head up, a smile on your face and don’t forget to pick up the phone!
A few relevant statistics to put your efforts in perspective:
- Average response time for an Internet lead is 44 hours.
- 65 percent of all companies don’t nurture the lead.
- Only 25 percent of all business owners make a 3rd attempt to follow up.
- 80 percent of all transactions require 5 to 12 follow-ups.
- If you include text in your response, you increase your conversion rate by 40 percent. But, when effectively used, texting can improve conversion by over 100 percent.
Thanks For Reading!
We hope this info will be of great value and help make you more sales! If you have any questions or comments, please comment below and send us a message!
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