Subscribe!
Business Monday: The Fortune is in the Follow-Up – Bob Salvas
By Bob Salvas, contributing writer
You have probably seen a lot of statistics just like these:
- Almost 70% of people fail to follow up with their leads at all.
- Nearly 50% of people who do follow-up, stop following up after one attempt.
- 80% of all sales are made between the fifth and twelfth contact.
So, if most business people are following up somewhere between zero and 2 or 3 times and most of the sales and referrals are made on follow-ups number 5 through 12…well the solution to the problem is simple – DO MORE FOLLOW-UP!
Yet, it doesn’t happen often enough. One of the reasons is that some people equate follow-up with being pushy. And it might be pushy if you are just asking for the sale in each of those follow-ups. Let’s look at three tips to keep in mind as you strive to improve your own FOLLOW-UP:
- Start by talking to the right audience
- Every business should have a specific target market to sell to. One of the keys to finding your best target market is to look at who is giving you business right NOW and especially who you enjoy working with right NOW. Find people just like them! In other words, FOLLOW THE MONEY. There is often a reason that you resonate with the people you are already doing business with and if you click with someone, following up with them is easier and they will also tend to be more open to it.
- Follow-up quickly, concisely, and using a variety of media
- Once you have had an initial communication with someone, follow up with them quickly (before they forget you!) even if it is just to say it was nice to meet them. Vary your communication media after that initial contact- maybe send them a thank you card, an email, a text, and connect via social media…all over time of course. And remember your goal is that every communication must FURTHER THE RELATIONSHIP or provide honest USEFUL INFORMATION. You want to bring value to them- be it business value or personal value. If you understand them and their needs, this is easier. Also keep the messages brief. If you have a lot of information to share, break it up and drip it out to them over time. Remember the adage about the only way to eat an elephant is one bite at a time!
- The long game
- ‘No’ often means ‘not now’ so stay in touch over time. It takes some patience, but people will only buy based on their timelines, not yours. Keep in touch with them over time. Go to some events that you know they will be at. Add them to your email newsletter list (with their permission of course). And connect with them on the social media platforms they prefer.
“People buy when they’re ready to buy, not when the salesperson is ready to sell. It’s all timing. So, if we’re not staying in front of the prospect in a polite, educational, friendly way; if we’re not there when the prospect is ready to buy, we’re not going to be there for the sale. We can either be there when they’re ready to buy or leave it to chance.” – Clate Mask, CEO InfusionSoft
___
Bob Salvas is a Professional Development Manager for the RI Builders Assn, a marketing consultant, and the founder of Momentum Networking, a monthly small business networking event that takes place in North Attleboro MA. Bob can be reached at 401-359-1602 or at [email protected].