FOLLOW-UP IN ACTION

Lately we’ve been discussing the importance of small talk, follow-up, and connecting with people. If you are in any industry that is considered a “people business” (psst, most of us are), mastering your communication skills and follow-up strategies is a MUST.

You likely know that getting leads is just half the battle. The other half is following up on those leads effectively so that they can be converted from a lead into a paying customer. But not all leads are created equal, and they require different follow-up strategies. Cold leads, warm leads, and hot leads require varying amounts and types of follow-up.

In this article, we will discuss some of the strategies you can implement for each degree of leads you get for maximum likelihood of converting them into paid clients!

Typically, we classify our leads into 3 categories. Sticking with that model, we will start with cold leads and work our way to hot ones!

Cold Leads

Cold leads are potential customers who, at some point, have expressed interest in or the need for your service. While these leads may not be ready to engage with your business now, at any moment that could change. That is why it is important for you to take a long-term approach when implementing your follow-up strategies with cold leads. Here are some tips:

• Don’t be pushy: Your first impulse with cold leads might be to try to convert them to a warm lead right away. However, you can’t force someone to engage with your business before they are ready. Maybe they are just inquiring about your service and need to know how much to budget for, or maybe they need time to save money or get into a better position to purchase your service. These, among others, are valid reasons for a lead to avoid converting into a client right away. This doesn’t mean you should ignore them though. Set them up on an email campaign, send some personalized texts over a couple of weeks, and reach out by phone once every month or two to remain top of mind and show them that you are interested in earning their business when they are ready.
• Use multiple channels: Email is a great way to follow up with cold leads, but many people won’t open their emails on a regular basis, or even at all. You should also consider using social media, or even direct mail as well as text and video messaging. Different channels can help you stand out and be memorable.
• Provide value: This is a big one. Be sure to provide value without expectation. For example, if you are in the financial industry, you could provide a simple market update. This shows the person that you are a true professional that cares about them as a human (not just as a transaction).

Warm Leads

Warm leads are potential customers who are interested in your service but need a short amount of time to be in a position to purchase from you. Depending on your service/industry, this could be a 2–6-month window. The key is to get to know what they are looking to accomplish and then create a plan to help them reach it. If they are looking to buy a house, but need 2-3 months to pay off a debt or acquire the needed funds for the purchase, you want to make sure you are following up at least bi-weekly so that you don’t lose them to a competitor and you can guide them through any questions or concerns they have as they work toward becoming a hot lead. When following up with warm leads, consider the following tips:

• Be timely: Follow up regularly to keep your business top of mind. There’s not really a set frequency to follow up, that depends on the needs of the individual and where they are in their journey of working with you. The most important thing is to follow through with your follow-up. If you say you will reach back out to them within a certain amount of time, make sure you do it. A delay in follow-up could result in the lead losing interest or hiring a competitor.
• Provide social proof: Share customer success stories or case studies to demonstrate the value of your product or service. This can help warm leads see the benefits of your business as opposed to your competitors and become more likely to convert.
• Ask them how to follow up with them: When working with warm and hot leads, it is critical to communicate with them in the way they prefer to be contacted. You might prefer email contact but if your client prefers text messaging, there could be a disconnect. Ask them in your early conversations what their preferred method of contact is and then make sure that is your primary form of communication with them. This helps you to ensure your messages reach them and provide the highest likelihood that they will respond.

Hot Leads

Hot leads are ready to buy now. These leads require less nurturing than cold or warm leads but require a higher level of immediate attention. When working with hot leads, here are some things to remember:

• Act fast: Follow up immediately to take advantage of their interest and momentum. Delay could result in them cooling off or finding a competitor.
• Be responsive: Respond quickly to any questions or concerns the lead may have. This doesn’t mean you have to respond to a 1am text or email, but your hot leads and active transactions should be your priority throughout your typical working hours. Being responsive and available for these clients provides them with a better experience which can lead to future business and referrals from them.
• Provide personalized service: Provide a high level of service and attention to hot leads. They are likely to be very interested in your business and may have specific needs or requests.

Following up on leads effectively is crucial for any business's success. If you are a sales-based professional, you must master the art of following up and nurturing people. By identifying your leads and implementing appropriate follow-up strategies, you can increase your chances of converting those leads into loyal customers.

To learn more about how to build your simple, yet effective follow-up strategy so you can build, grow, and scale your network and your business, connect with me HERE!

Thanks for stopping by!

Ciao for now!