Lead Follow-Up & Conversion - LogicClassroom


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Brokers and Agents often ask us about the best practices of following-up with an inbound lead- join David Friedman, President & Founder of Boston Logic, in a discussion about how to effectively manage your lead from the point of entry, and dramatically increase conversion.

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Lead Follow-Up & Conversion - LogicClassroom

  1. 1. T: 617.266.9166 www.bostonlogic.comSTRATEGIES TO EFFECTIVELY MANAGEAND CONVERT LEADSClose More of the Leads You Get!Presented by: David Friedman President, Founder Boston Logic Technology Partners, Inc.
  2. 2. 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: 617.266.9166 www.bostonlogic.com
  3. 3. 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: 617.266.9166 www.bostonlogic.com
  4. 4. 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: 617.266.9166 www.bostonlogic.com
  5. 5. 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: 617.266.9166 www.bostonlogic.com
  6. 6. 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 thefirst place? T: 617.266.9166 www.bostonlogic.com
  7. 7. …of all leads were abandoned within 72 hoursSource: Michael Ferrera & Co. T: 617.266.9166 www.bostonlogic.com
  8. 8. …of all leads are abandoned within 30 daysSource: Michael Ferrera & Co. T: 617.266.9166 www.bostonlogic.com
  9. 9. …of all abandoned leads never actually had a dialogue between customer & agentSource: Michael Ferrera & Co. T: 617.266.9166 www.bostonlogic.com
  10. 10. …leads were abandoned “The customer didn’t call me back”Source: Michael Ferrera & Co. T: 617.266.9166 www.bostonlogic.com
  11. 11. FALSE!“They didn’t call me back right away, therefore, they’re notinterested and they’re not worth my time!” T: 617.266.9166 www.bostonlogic.com
  12. 12. SO…1. Make sure you follow up2. Make sure your follow up is effective T: 617.266.9166 www.bostonlogic.com
  13. 13. Real Example Response:(The wrong way)This great house is currently available and is located off of MainSt. and Sutton Ave- a very nice area. Ths school district isKirkwood and is jus right up the street.Would you like to set an appointment?Let me know. T: 617.266.9166 www.bostonlogic.com
  14. 14. Real Example Response:(The right way)Thank you for your email and for your visit toMyRealEstateWebsite.com.In answer to your question (provide answer). I would love toshow you this property and am available (provide options).I have also provided links to properties that are similar to theone about which you inquired.I’m available to answer any further questions and discuss yourcurrent situation. Please call me directly at (provide number). Ican be reached (provide options). T: 617.266.9166 www.bostonlogic.com
  15. 15. 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: 617.266.9166 www.bostonlogic.com
  16. 16. Inquiry Management Best Practices• Respond ASAP • Within 5 minutes • Get the tools you need!• Always answer questionsEmail:• 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: 617.266.9166 www.bostonlogic.com
  17. 17. Email Follow Up Best Practices • 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 T: 617.266.9166 www.bostonlogic.com
  18. 18. Online Inquiry Management:Best Practices – Cont’d• 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?) T: 617.266.9166 www.bostonlogic.com
  19. 19. SPEED MATTERS!  Call back within 5 minutes vs.  Call back after 30 minutes Result = 100x more likely to reach the lead T: 617.266.9166 www.bostonlogic.com
  20. 20. 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: 617.266.9166 www.bostonlogic.com
  21. 21. THE SAME PRINCIPLES HOLD TRUE THROUGHOUT THECLIENT ENGAGEMENT Fast, informative follow up Proof read Be concise Be persistent Track every client interaction Be methodical!  Tasks  Events/appointments T: 617.266.9166 www.bostonlogic.com
  22. 22. QUESTIONS?Facebook.com/BostonLogic @BostonLogic Youtube.com/user/BostonLogic www.bostonlogic.com  View & Download Past Presentations:  www.bostonlogic.com/logic-classroom  Contact Me: David Friedman dfriedman@BostonLogic.com www.bostonlogic.com 617.266.9166 T: 617.266.9166 www.bostonlogic.com
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