Effective Lead Follow-Up Cycle for New and Existing Leads
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When I ask clients how they are doing with Month-To-Date (MTD) new membership sales, the responses vary. Some are on track, some are ahead of pace and others are behind. Inquiring why on all counts and especially with clients who are behind, the response is typically that traffic has slowed down. Lead generation is clearly a key to sales success, and often, there is not enough lead generation going on. That is another article. What I also find is that there is typically ineffective lead follow-up happening. When this happens, sales teams are leaving a LOT of opportunity on the table that should easily translate into more new sales, better member relationships, increased referrals and better retention. With regard to leaving a lot on the table, the following are some compelling facts: 80% of all sales require five follow-ups to close. Here's the exact breakdown according to research by Marketing Donut:
- 44% of sales reps stop following up after one rejection or ignored email;
- 22% of reps stop after two attempts;
- 14% of reps stop after three attempts; and...
- 12% of reps stop after four attempts.
The math works out to suggest that 8% of salespeople are scoring 80% of the sales! Even if following up isn't your favorite part of the job, it's absolutely crucial to your success. If you give up before that crucial fifth follow-up, you're shutting down the bulk of your sales potential.
Some of you reading this have terrific CRM/Prospect Management Systems. Some of you do not. Even with a solid system, you still need to have human finesse paired with it to create effective follow-up. Let's take a look at what that looks like.
Keep in mind your three best tools to minimize follow-up:
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