Want a more profitable business? (Dumb question. Of course you do.) Whether you’ve been around for a while or are just starting up, every smart business owner wants to increase their sales.
So what’s your lead tracking process?
Too often, a quality system for tracking leads falls through the cracks — and so do potential customers. It’s tempting to take each lead individually and patchwork your responses based on what’s worked in the past. But that’s not the most effective method.
Instead, you need a sales lead management process you can count on. And good sales lead tracking does one thing: follow the right leads systematically.
How to Qualify Your Leads
Before you meet with people, ask yourself, “Who is a real potential client?”
Make sure leads can afford what you sell. Not sure? Try this simple calculation.
Perceived cost x 1,000 = Minimum Business Revenue
Let’s say your product costs $12,000, but clients pay monthly. That means they perceive the costs to be $1,000. When you multiply $1,000 by 1,000, you’ll know you should be selling to businesses who bring in at least a million dollars. Otherwise, it’s too expensive for them.
Then find a niche so your leads can be more specific. A specific market lets you stand out as a specialist for your product, as it applies to certain clients.
Let’s say you sell scissors. Everyone needs them, and all businesses are prospects. But you’ll get a better result if you tailor your specialty. So become an expert at selling scissors to insurance companies. Now, when you sell, you can say, “I know everyone sells scissors, but I work with people just like you. Here’s my story…” Through the course of your story, you’ll show your understanding of how they use scissors in their industry and how you can help with that.
Selling isn’t just about what they literally want (i.e. the scissors). Selling is about the aggregate experience that you have in dealing with people just like them.
How to Handle Leads Systematically
Once you find leads that can afford your product and fit your niche, put them in your “mechanism” immediately. This mechanism, or system, for following up helps you know what action to take when. Here’s how it works.
1. Start the Funnel
Contact your leads at regular intervals. I start with an email and a phone call. To begin a “trust bond” — a connection point that starts building their trust — I’ll email them, “Hey! I got your name from here. I’m going to call you right now.” This isn’t about marketing or a grand introduction. It’s just a way to make the first contact.
Then I call them. If they don’t answer, I leave a message and immediately email them with the subject: Just left you a voicemail. More often than not, people will respond to the email but won’t call back, even if they’re interested.
After this first touch, I start my call funnel. I’ll call back the next day (and leave a message if I don’t reach them). Then I call back at these intervals:
- 2 days later
- 1 week later
- 2 weeks later
- 1 month later
- every 60 days until they buy
You’ll need to tweak your timing depending on your industry. But the key is to be professionally persistent. You don’t want to be in their face. And you don’t want any of these touches to seem like triggered responses (even though they are). Instead, you want clients to feel like they’re your only lead. Make it seem like they’re the only client on your agenda.
2. Script the Process
In reality, all these responses are triggered. So establish a way to respond every single time. Whether you’re a one-man business or a 20-person team, you need the process scripted.
3. Tweak It
Then tweak it if it’s not working. You don’t have to reinvent the wheel. Once you have a place to start, you just need to edit.
Think about the sales lead management process like writing. The hardest part is getting the first draft on paper. It’s much easier to critique and edit. It’s the same with the sales process.
Get your process on paper — even if it’s wrong. Then, if you’re losing people, figure out where you’re losing them and fix it. That doesn’t mean you make changes with every piece of feedback, but you look at the big picture to see where a repeated breakdown happens. Then adjust.
If you want to know the best way to make changes, ask your clients. After they’re on board, just say, “Thank you for your business. I know you’re a new client, and I’m looking forward to working with you. By the way, how did you feel through the process?” They’ll tell you what they liked and didn’t. Then you’ll know firsthand where to improve in the future.
Solid sales lead management can make all the difference in your revenue growth. A CRM like CallProof will help keep you on track.