Fix Follow Up Failure Final

FIXING FOLLOW-UP FAILURE Turn your dead lead graveyard into a gold mine

My name is ___________ and I am an Infusionsoft Certified Marketing Automation Coach (CMAC). Add experience / background

What Will Happen To Your Leads in 2009?

What are your goals for 2009?
Do you want to grow your business…
quickly!
profitably!
without adding staff!

How are you going to make that happen?
Market to generate leads?
Nurture prospects until they are ready to buy?
Follow-up with every prospect?
Get repeat sales from existing customers?
Automate the entire process?

What do you need to do to reach your goals? FIX YOUR FOLLOW-UP FAILURE!

Why don’t companies follow-up?
You forget.
You focus on hot leads.
Unconverted leads fall through the cracks.

Why don’t companies follow-up?
You think the people will call you back if they are really interested.
You don’t want to be pushy.
You don’t realize the potential impact follow-up can have on your business.

People buy when they are ready to buy!
67% of the prospective buyers that tell you “no” today will be ready to buy in the next year. — Gartner Research
80% of leads you consider to be “dead” will buy within 2 years. — Sirius Decisions

You are delivering the sale to your competition!

5 Common Follow-up Mistakes
No follow-up at all.
Weak follow-up.
Irrelevant follow-up.
Jumping into a sales pitch.
No centralized database.

2% close on the 1 st call
3% close on the 2nd call
4% close on the 3rd call
10% close on the 4th call
81% close on (or after) the 5th call
How many touches does it take to close a sale?

48 % quit after the 1st call
24 % quit after the 2nd call
12 % quit after the 3rd call
6 % quit after the 4th call
10 % quit after the 5th call
When do most companies stop following-up?

Old fashioned sales and marketing

Traditional sales and marketing Day Week Year Total Leads 10 50 2,500 Closed 1 5 250 Warm Leads 1 5 250 Cold Leads 8 40 2,000 Sales ($500 / deal) $500 $2,500 $125,000

What happens with the 2,000 cold leads that your sales efforts don’t focus on? THEY TURN TO DUST!

Fixing Follow-up Results In… Day Week Year No Contact Leads 8 40 2,000 Nurture (convert 20%) 1 8 400 Sales ($500 / deal) $500 $4,000 $200,000 % ROI Increase 260%

Is It Time To Stop Letting Your Prospects and Customers Slip Through Your Fingers?

What is follow-up?
Education
Nurturing
Ongoing contact
Relationship building
Providing long-term value
Staying top of mind
Differentiating yourself from the competition

Email
Voice Broadcast
Effective follow-up happens through a combination of media
Phone Call
Postal Mail
Fax Broadcast

Website without automated follow-up

Website with automated follow-up

Follow-up Sequence (New Prospects)
Send the info they requested immediately. (email)
Send a letter with more valuable info. (letter)
Call to see if you can answer any questions. (call)
Send a value-added email with tips/education. (email)

Follow-up Sequence (New Prospects)
Send a promo offer to stimulate action. (email)
Follow-up with limited time promo offer. (postcard)
Call with a final reminder for promo. (voice broadcast)
Offer subscription to future marketing offers and other value added content. (email)

Old Customer Retention Model

New Customer Retention Model

Follow-up Sequence (New Customers)
Send a “thank you” message. (email)
Send a gift. (lumpy mail)
Send a survey. (email)
Send valuable tips. (email)
Present cross-sell and/or upsell offer. (postcard)

Follow-up Sequence (New Customers)
Ask for a referral. (call)
Make “thank you” call. (voice broadcast)
Offer subscription to communications. (email)
Put them in a customer nurture sequence. (newsletter, etc.)

“ All About Spelling” Case Study CASE STUDY Can we double their sales?

“ We are very customer service oriented, so customer follow-up was our #1 priority. Previously, when a customer had a question, we might have to check the shopping cart, email system, paper system, and more just to find the answer.” Marie Rippel, Owner “All About Spelling” (prior to fixing follow-up) CASE STUDY

Goal: Double Their Sales Strategy: Fix Follow-Up Failure CASE STUDY

Initial Analysis
SEO efforts were driving strong traffic
Decent sales conversion rate
Newsletter opt-in on website (but no way to know who was who) ‏
Not capitalizing on high traffic pages
CASE STUDY

Initial Analysis
50% drop off between sales stage cycles
No automatic upsells (promos only) ‏
No affiliate/referral program
Data in different places
CASE STUDY

Fix Follow-Up Failure Plan
Get organized – tag customers / prospects
Integrate shopping cart / e-commerce into follow-up system
Add upsells to follow-up process
Automate process to save human interaction
Change newsletter opt-in to free report
Add automated affiliate/referral program
CASE STUDY

Results
Grew list from 5,863 to 10,632 contacts
Grew from 599 purchases to 1,232
Average order size increased 16%
49 sales from affiliates
Doubled sales in 72 days
149% increase in sales in 3 months
CASE STUDY

“ We've been able to hire two VA's. This has freed me up to work on product development. I never could have done that before, when the data was all scattered in different applications. But since everything is centrally located, my assistants can handle customer service and I don't have to worry about anything slipping through the cracks. We win, and our customers win. Love it.” Marie Rippel, Owner “All About Spelling” (after fixing follow-up) CASE STUDY

Practical Application
Determine what type of follow-up your business needs. (10 minutes)
Brainstorm sequence concepts with group. (30 minutes)
Build a 10-step sequence outline for your business. (15 minutes)
Write your opening piece. (20 minutes)
Share and review with group. (30 minutes)

Fixing your follow-up failure will:
Convert more leads into sales.
Get repeat sales from customers.
Grow your business without growing staff.

How do you fix your follow-up failure?
Make a commitment.
Create a follow-up program.
Find a system to automate your follow-up.

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Fix Follow Up Failure Final

by KevinBarrett on Apr 14, 2009

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