Failure to Follow-Up on Leads
After you go through all the work of creating a marketing plan, hopefully you end up with lots of leads. You call the leads to set up an appointment to try and earn their business. About 80% of the time you leave a message, but rarely do you get a callback. After a couple of calls you give up and move on to other prospects. All the time and money spent to generate that lead has been wasted.
First, create an electronic database of your prospects. Get rid of the stack of business cards in the rubber band. Use a smartphone app or business card scanner to get them in electronic format. Microsoft Outlook or Excel can be used to capture this information.
Infusionsoft and Constant Contact are two online applications that will manage your list of clients and prospects. There are many others but I use these two with clients and find them to have what we need. Constant Contact can start at as low as $20 a month and Infusionsoft starts at $199. Check out our Web site for more details.
Use the scheduling and tracking features in these programs to schedule your first call and follow-up calls. Continue these processes until you contact the person or you’re ready to give up. Did you know that 80% of all salespeople give up after the third contact, when research indicates most people will not consider doing business with you until the seventh or eighth contact?
Don’t give up!
We have to understand that only a small percentage of your target market (2 to 5%) is ready to change title companies today. Maybe this prospect isn’t ready to change today but may be in the future. You must keep in contact with this person on a regular basis so when the time comes that they may be interested in changing title companies, you will be the top-of-mind choice. Send postcards, e-mails, or letters (the best method to use) on a regular basis. Repeat the message you developed earlier. Call and ask for a referral if they’re not interested in your services right away.
You need to have some fortitude to understand that the leads won’t turn into customers overnight. In a couple of months you will start to see the fruits of your labor. Stick with it.