Following up with prospects is such a valuable form of marketing, yet, often it is underused or used improperly by agents.
About 66% of the Dan Plowman Team’s business comes from follow up. According to the National Sales Executive Association, only 2% of sales are made on the first contact with a lead or opportunity. Based on that number alone, you can see how important it is to have a solid follow up plan in place, along with the right scripts. It also becomes necessary to leverage technology, such as a CRM, to ensure no lead is ever dropped.
Only 3% of sales are made on the second contact with a prospect, 5% on the third, 10% on the fourth, and 80% of sales are made between the fifth and twelfth follow up.
There are two steps to the follow up process:
The first step is setting the expectation in the initial call with the prospect that you will be contacting them again. You have given them a follow up offer because their timeframe is too far away or not within the timeframe to make a buyer or seller value proposition.
The second step is to actually follow through with that promise and to make the follow up call. We recommend following up in half the time you had initially agreed to as most don’t remember when you were going to follow up, just that you were. This also allows for the possibility that their timeline or timeframe may have changed.
When making a follow up call you want to ensure you build rapport with the prospect as quickly as possible. You must effectively communicate with the prospect so that they are willing to speak to you. One way to do this is to reestablish as quickly as possible the relationship you built in the previous conversation by reminding them that they had given you permission to follow up with them and you are doing just that. Also, make sure you have good notes from the previous call so that you can refer to those notes, such as, “Last time we spoke your dad was about to have surgery. How did everything go?” This shows that you listened to them and cared about what they had to say.
Learn more about the value of follow up and to receive the tried and tested follow up scripts used by the Dan Plowman Team daily that allow them to sell more than 400 homes per year with our online training centre, PointOne.