Why Following Up is More Important Than Generating New Leads

In Business Buy Guide, Business Leads on December 27, 2010 by businessbuyguide Tagged: , ,

One of the main reasons why small business owners often seek out new marketing strategies is because they think that the solution to slow sales is more leads. If you agree with this point of view, then have I got a shocker for you. According to the 2010 Lead Life Cycle Optimization study, over 80 percent of all leads generated by small businesses are never followed up with by a salesperson. Eighty percent! Can you believe that?

I went looking for these statistics not so long ago because I had a hunch that this was the cause of the sagging sales problem many businesses were having. Let me tell you about a couple of my own experiences…

Last year, I went car shopping. I usually use the same vehicle for as long as possible. My previous car was at the end of its life, so it was time for a new one. I visited a few dealerships, test drove four cars over four days, and made my purchase two weeks later. Guess how many salespeople bothered following up with me over that time period? Just one. I had told each dealer what I wanted in a car and left them my contact details. How hard could it have been for them to get back to me?

Here’s another story. This happened when I was 21. I was in search of an apartment and deliberately looked at seven different units, even though I already knew exactly what I wanted from the very beginning. Despite the fact that I filled out information cards and requested a follow up with each salesperson, only one called me back. I have a tip for all you sellers and realtors out there: follow up!

I’m sure you get the point by now. However, the real question here is not whether a problem exists or not, but why it is happening in the first place. I have some theories, and after training several salespeople, the same patterns emerge time and again:

•    You prioritize fresh leads
•    You intend to follow up but get too busy and eventually forget
•    You assume that leads which are a few days or weeks old are too old
•    Your days are too hectic for a regular follow-up routine
•    You’re not confident with your follow-up script or plan

Do any of these sound familiar? If so, there’s nothing to be ashamed of. That’s just how business is – you need to multitask and be constantly diligent to master everything.

The good news is, automated follow-up solutions are available for busy entrepreneurs like you. I suggest using a lead capture form along with an autoresponder series. Add some great customized copywriting and genuine promotional offers, and watch your sales figures grow!

Keep in mind that even something as seemingly unimportant as a follow-up call or email can mean the big difference between a new customer and a wasted lead.


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