Lead follow up is not only smart business, it’s critical to the success of your business. Following up on leads, especially internet-generated ones, is simply crucial to the growth and very survival of your business. Entrepreneur Magazine says that businesses that nurture their leads enjoy a 47 percent higher profit margin than businesses that do not take this step. That’s a pretty significant difference when it comes to your bottom line.
If you’re not doing strong lead follow up yet, there’s no time like the present. Read on to find out how you can harness the power of this practice and use it to boost your sales.
Make it part of your company’s culture
You want everyone on your team to embrace followup on leads. If you’re working alone, you need to make it a priority for yourself. One way to do this is by making it a part of your company’s culture. Send out reminder emails to yourself and other members of your staff. Hang flyers up that show the statistics for lead response and what it can do for your sales. Do whatever you can to make following up on leads an important and remembered practice in your business.
Remember speed is key
Lead follow up is a dish best served hot. You want to make sure you’re responding to a lead, particularly a web one, as soon as possible. According to a study published in the Harvard Business Review, companies that followed up on leads within one hour of receiving an inquiry from a potential customer were seven times more likely to qualify that lead. This reflects the “now” age we’re currently in, where people want and have come to expect information fast. Your business needs to be in line with this culture shift when it comes to lead response.
Have systems set to “go”
Having lead follow up procedures and methods in place goes a long way toward ensuring prompt and solid lead response practices in your business. Draft a schedule that clearly outlines the type, method and speed of your lead responses. You could, for example, have your website set up so that potential customers get an automatic “Thank you” email response within seconds of submitting an inquiry, followed by a text or email that offers information. At this point, you could have someone contact the potential customer directly or via email requesting further discussion of the inquiry.
Successful business owners know that marketing is the key to building a business, however it never ceases to amaze me how much effort some people put into getting a lead and then they ignore it. They don’t immediately follow up and the lead goes cold. Don’t let that happen to you, make lead follow up a #1 priority for your business.