There’s a Fortune in the Follow-Up!

Quite often in sales, for whatever reason, sometimes the sale doesn’t close during the 1st meeting, because these days, people like to take their time, do their own due diligence, asses social proof etc.

Let me ask you personally. When you make a purchase, do you make all your purchases during the 1st conversation with the business or seller who is providing what you’re buying?

Or

Do you sometimes take your time for your own peace of mind!

How Many Times Should Your Follow Up?

So how many ‘contacts’ with a prospect does it take before they eventually purchase from you?

Research varies on this question, but the general consensus in sales circles suggests that it usually takes between 5 to 12 contacts to close a sale.

This number can vary based on factors such as the complexity of the product or service, the industry, and the sales approach used.

Some studies indicate that the number could be even higher, especially in B2B (business-to-business) sales where multiple stakeholders are involved in decision-making.

Lesson learned is that building relationships and maintaining contact with potential customers over time is crucial during the sales process to increase your sales and revenues.

Therefore, follow-up should be considered a regular part of the sales process.

"There's a Fortune in the Follow-Up" refers to a strategy in sales and business development that emphasizes the importance of persistent and systematic follow-up with potential customers or clients.

8 Step Follow Up Strategy to Increase Your Sales.

1.)??? Initial Contact: The process begins with making initial contact with prospects through various channels such as mail, cold calls, emails, networking events, or social media outreach such as LinkedIn.

2.)??? Building Rapport: Once contact is established, the focus shifts to building rapport and trust. This might involve understanding the prospect’s needs, demonstrating expertise, and showing genuine interest in their business or challenges.

3.)??? Providing Value: During and after the initial contact, the salesperson or business developer continues to provide ‘added value’ to the prospect. This could be through sharing relevant information, offering solutions to their problems, or connecting them with resources that can help them.

4.)??? Follow-Up Schedule: A structured follow-up schedule is crucial. It involves setting reminders and systematically reaching out to the prospect at appropriate intervals. This ensures that the relationship remains active and the prospect doesn’t forget about the interaction.

5.)??? Persistence and Consistency Matters: Successful follow-up requires persistence. Many sales are closed not on the first contact, but after multiple interactions. Consistency in messaging and follow-up efforts helps in reinforcing the value proposition and keeping the prospect engaged.

6.)??? Personalization: Tailoring follow-up messages to the prospect’s specific situation or preferences enhances effectiveness. Personalized communication shows that you understand their needs and are genuinely interested in helping them.

7.)??? Tracking and Evaluation: Keeping track of interactions and outcomes is essential. This helps in evaluating the effectiveness of your different approaches and adjusting the follow-up strategy accordingly.

8.) Closing the Sale: Ultimately, the goal of the follow-up strategy is to move the prospect towards making a purchase decision. By nurturing the relationship and addressing objections or concerns over time, the likelihood of closing the sale increases.

Overall, 'There's a Fortune in the Follow-Up' underscores the idea that consistent and strategic follow-up efforts can significantly increase sales conversions and build long-term relationships with customers or clients. It's not just about making initial contact but about nurturing leads through a structured and persistent approach.

In summary, I highly recommend that you use a quality CRM (Client Relationship Manager) to help keep you on track and provide you with easy access to your notes about previous conversations that you have had with your prospects.

Here's to your continued LinkedIn for business success!

Regards from

Derick

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