We spend a lot of money in collecting relevant leads, contacting them and try converting into meeting and business. The lead funnel management is a critical know how to bring the differentiator in business.
You’ve already spent time and money to attract prospects. Just because someone hasn’t responded to one of your campaigns doesn’t mean that they don’t have an interest in your product or service.
If you nuture your leads before selling, you’ll see more sales-ready leads, higher close ratios, a stronger sales pipeline and a shorter sales cycle. Let me share 7 essentials for effective lead follow-ups for better conversion ratios and ultimately improving your sales figures.
- Aim to book an appointment: The primary objective of lead follow up is to book an appointment with the prospect. Always request for an in person meeting. At the most you will hear a “No”. Touch base with him not only for closing sales but also to make contact, provide information, share update about the market, build rapport with them, open up a dialogue etc.
- Alter your way of contacting the prospect before you delete it from your database: Using the same medium for contacting all your prospects may not work always. If you can’t reach him on phone, then do text, watsapp, e mail, skype or linked in.But I would still recommend a telephonic communication as it is an effective effective medium to showcase your selling skills.
- Is “No” as good as “Yes”?: The answer is yes. There are typically three responses to expect “Yes, No or Maybe”. The dangerous is “May be”. We often drain ourselves when we don’t convert a high enough percentage of maybes. They are the culprits behind wasting our time. Whereas, there is no uncertainity in “ No & Yes”. I can still convert a “No” to a “Yes “ response . When I hear a “No” I know the exact reason and can resolve the prospect’s objection.
- Evaluate the worth of the lead: We spend lot of our valuable time, energy, resources and emotions into a low probablility prospect and invite frustrations and pressures in hoping for their conversions. It is better to have no leads than to have a low probablility prospect. Be diligent in knowing the worth of the lead.
- It is an elimination process too. Many a times I find lead database as junk and fruitless which are being converted into a big warehouse. It is essential to get rid of such leads. Follow up with them through any of the mediums. A “No” is as good as “Yes”. Confirm that “No” and disqualify that lead.Channalise your efforts into a high probability lead.
- Classify your leads: Never club all the leads together,rather categorising them is more effective.Classify them in terms of time frame, probablity of conversions, already followed up or fresh leads, sources of the lead generation etc. Following up and tracking on these classified leads will give you a clear and a focussed picture of your actionables that can generate fatty business
- Yes I am interested, but in what? Many a times prospect is interested in your services but that interest is meaningless to you. Interest is ok but can he afford to take the actions? For example – I will buy a new mobile phone provide you sell my old phone at Rs 10000. The prospect is interested but are you interested in this kind of a deal? I am sure that’s not necessarily the kind of consumer interest you’re looking for.
Leads are the basic building blocks for each conversion. It is must to have a compelling lead pipeline for the survival of your business. Adopting these essentials will support you in creating effective lead follow up strategies.
Best wishes for better leads and conversions !!
