Managing your leads –Part Three
So what’s the difference between a hot lead and a not so hot lead? Check this out…
Hot leads are those leads that have been worked over a period of time and while they haven’t been closed they are still interested in speaking with you. Meaning the door isn’t closed on an eventual sale. Every hot lead is developed from a cold call or cold lead. Essentially you have no contact with theses prospects, haven’t sent literature, or e-mail and haven’t spoken. They’re cold. Once you’ve developed the lead to the point that you have established rapport (meaning they remember having a conversation with you on a previous call) you can gain their trust over time. “Time” being the word to remember because it can take several weeks and many phone calls to develop a lead. If you’ve developed the lead correctly (by asking probing questions to determine the need) then it’s really only a matter of time before you close the prospect with an appointment or a sale.
How do you develop a hot lead from a cold one? Here are some tips…
Understand that you can’t sell anyone anything until you’ve determined what their needs are. This is the reason why asking “probing “questions is so important.
Know that quality leads are developed over time. The longer the leads have to develop the more info you can gather to close the prospect.
Repetition is the key. You can’t simply call a prospect once and then “forget “to follow up. That’s negligent on your part and is the equivalent to throwing money out of the door. Do you want to bring in more business? It’s not advertising that will do the trick (although it helps) it’s working the leads that are already in your database. I will almost guarantee that you have at least 5 leads in your database that can be closed within the next 30 days simply by making a few phone calls.
Don’t expect the phone to ring just because you’ve sent out literature. I have a number of accounts who have initially felt that sending literature was a waste of time. When I hear this, I always ask the same question. Did you follow up on the literature? (I always know the answer I’ll get) ”Uh, no I don’t have time”. Make the time. This is your livelihood we’re talking about. It makes no sense to send literature to a prospect without knowing if they even got the info. When you do call them you want to ask three questions:
Did you receive the info? (Just because you sent it doesn’t mean they got it)
Have you read it? (Just because they got it doesn’t mean they’ve read it)
What did you think about it? (You want to know the prospect’s thoughts)
Following up on literature should be an integral part of your marketing campaign regardless if you follow up yourself or hire someone to do it. If you don’t follow up on the literature how can you expect to close them? Most of the prospects I speak with tell me that they appreciate the fact that I took the time to follow up on literature. These are also the prospects that will most likely do business with you in the future because you took the time to follow up. This sets you apart from the myriad of other direct mail they receive on a weekly basis.
More tips tomorrow..