Best Practices for Lead Follow Up
1. A few stats to keep in mind
· 50% of people quit after the first call
· 80% after the second call
· 90% after the third call
· 97% after the fourth call
So you must call at least 5 times. If you keep calling you are eliminating most of the other people trying to meet with your prospect. Research shows that 80% of all sales are made between the 5th and 12th contact.
The Rule of 7
The Rule of 7 is a well known marketing concept which says: a prospect must see, hear, or otherwise be exposed to a message at least 7 times before they respond. In other words, if you don’t have a contact strategy that touches the prospect at least seven times, you significantly reduce your odds of sales success.
When you think about it the Rule of 7 makes sense in today’s hectic and overly competitive market place. Prospects are inundated with vendors who are looking for a quick and easy sale. They call once or twice…maybe three times…and give up. The average prospect has learned that the average vendor is not interested in a relationship but rather is looking for a quick and easy transaction. Typically “quick and easy” does not work.
Buyers expect sellers to work for their business. Prospects truly want relationships but very few Sales Reps are willing to take the steps to court them. You can stand out from the crowd and win the sale more often by nurturing your leads and relationships.