lead follow-up & conversion - logicclassroom
DESCRIPTION
Brokers and Agents often ask us about the best practices of following-up with an inbound lead- join David Friedman, President & Founder of Boston Logic, in a discussion about how to effectively manage your lead from the point of entry, and dramatically increase conversion.TRANSCRIPT
STRATEGIES TO EFFECTIVELY MANAGE AND CONVERT LEADS
Close More of the Leads You Get!
Presented by: David FriedmanPresident, FounderBoston Logic Technology Partners, Inc.
T: 617.266.9166www.bostonlogic.co
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T: 617.266.9166www.bostonlogic.com
AGENDA
Today’s customer Follow up is key! How to beat the competition Email follow ups Researching a lead Leveraging the Sequoia platform to be more efficient.
T: 617.266.9166www.bostonlogic.com
TODAY’S CONSUMER
• Generally “tire-kicking” and info-gathering for some time
• Will “window-shop” for 3-6 months on average, sometimes up to 2 years or more
• Looking for service vs. selling
• Has access to many sites, information sources • Loyalty determined by the speed and quality of
response/s
T: 617.266.9166www.bostonlogic.com
TODAY’S CONSUMER – CONT’D
• Has an“I want it now” attitude towards information
• Is unlikely to respond to your initial response if not timely, informative, and engaging
• Expects service -> Effective follow-up communications are everything
T: 617.266.9166www.bostonlogic.com
WHAT TODAY’SCONSUMER EXPECTS:
The ability to browse, research on their own
Prompt, professional, and individualized responses to inquiries
Useful information and resources
Help & expertise when needed
!!!
T: 617.266.9166www.bostonlogic.com
HOW DO I GET HIGHER CONVERSION RATES?
These are all the same question:
Why don’t more of the leads I get convert?
What can I do to get more of the leads I have into my car to see a property?
Why are the conversion rates low in the first place?
T: 617.266.9166www.bostonlogic.com
Source: Michael Ferrera & Co.
94%…of all leads were abandoned within 72 hours
T: 617.266.9166www.bostonlogic.com
Source: Michael Ferrera & Co.
88%…of all leads are abandoned within 30 days
T: 617.266.9166www.bostonlogic.com
Source: Michael Ferrera & Co.
77%…of all abandoned leads never actually had a dialogue between customer & agent
T: 617.266.9166www.bostonlogic.com
Source: Michael Ferrera & Co.
#1Reason
…leads were abandoned
“The customer didn’t call me back”
T: 617.266.9166www.bostonlogic.com
FALSE!“They didn’t call me back right away, therefore, they’re not interested and they’re not worth my time!”
T: 617.266.9166www.bostonlogic.com
SO…1. Make sure you follow up2. Make sure your follow up is effective
T: 617.266.9166www.bostonlogic.com
This great house is currently available and is located off of Main St. and Sutton Ave- a very nice area. Ths school district is Kirkwood and is jus right up the street. Would you like to set an appointment? Let me know.
Real Example Response:(The wrong way)
T: 617.266.9166www.bostonlogic.com
Real Example Response:(The right way)Thank you for your email and for your visit to MyRealEstateWebsite.com.
In answer to your question (provide answer). I would love to show you this property and am available (provide options).
I have also provided links to properties that are similar to the one about which you inquired.
I’m available to answer any further questions and discuss your current situation. Please call me directly at (provide number). I can be reached (provide options).
T: 617.266.9166www.bostonlogic.com
EFFECTIVE MANAGEMENT OFINQUIRIES REQUIRES:
Patience – make at least 6 contacts and the chances of connecting go from 39% on the 1st contact to 93% on the 6th. just a 2nd contact increases the chances of connecting to 87%
Persistence – make reaching out part of your daily routine (calling, emailing, meeting, etc.)
Perseverance – track all leads/opportunities and FOLLOW-UP
T: 617.266.9166www.bostonlogic.com
Inquiry Management Best Practices
• Respond ASAP • Within 5 minutes • Get the tools you need!
• Always answer questions
Email:
• Always fill in the email subject (ex: Property Address)
• Include complete company signature / contact information
• Use company network email (AOL / Hotmail won’t be recognized; could be considered SPAM)
T: 617.266.9166www.bostonlogic.com
• Use links to provide more info when possible (vs. attachments / images which often can’t make it through firewalls/ might be considered SPAM)
• PROOF READ!!!
• Always provide full contact information. Use a standard signature.
• First response – offer helpful information and a next step, but avoid asking too many questions
• Respond in-kind. If they call, call back
Email Follow Up Best Practices
T: 617.266.9166www.bostonlogic.com
• Follow up is KEY!
• 5 in 5 (5 communications / 5 days)
• ASK how often communications should be sent / updates provide
• ASK what method is preferred – phone / email / text, etc.
• ASK about timing (ie: Mornings? Evenings?)
Online Inquiry Management:Best Practices – Cont’d
T: 617.266.9166www.bostonlogic.com
SPEED MATTERS!
Call back within 5 minutesvs.
Call back after 30 minutes
Result = 100x more likely to reach the lead
T: 617.266.9166www.bostonlogic.com
AFTER YOU’VE MADE FIRST CONTACTPASSIVE MEANS OF STAYING IN TOUCH:
If they aren’t already, enter them into LogicLeads Connect on Linked-In Connect on Facebook Follow on Twitter Make sure they are on your newsletter list Set the client up for daily email updates. Buyers,
Sellers, and Renters!
T: 617.266.9166www.bostonlogic.com
THE SAME PRINCIPLES HOLD TRUE THROUGHOUT THE CLIENT ENGAGEMENT
Fast, informative follow up Proof read Be concise Be persistent Track every client interaction Be methodical!
Tasks Events/appointments
T: 617.266.9166www.bostonlogic.com
QUESTIONS?
View & Download Past Presentations: www.bostonlogic.com/logic-classroom
Contact Me:David [email protected] 617.266.9166
www.bostonlogic.com
@BostonLogic Facebook.com/BostonLogic Youtube.com/user/BostonLogic