lead follow-up & conversion - logicclassroom

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

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Source: Michael Ferrera & Co.

88%…of all leads are abandoned within 30 days

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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)

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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

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• 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

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QUESTIONS?

View & Download Past Presentations: www.bostonlogic.com/logic-classroom

Contact Me:David Friedmandfriedman@BostonLogic.comwww.bostonlogic.com 617.266.9166

www.bostonlogic.com

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