Putting Management Back Into Leads Management

What's special about leads management? The word: management A powerful opportunity to leverage our most important resources – managers! It’s focused on the outcomes and meaning derived from the three stages (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

Leads Management is a New Discipline Part of the “modernization” of business A modern approach to delivering upon our commitments: To our clients (ie, sellers who ask us for buyers) To our agents (ie., recruiting promises) To our companies (ie., to ROI) (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

Only Management Can Do It No sales process is self-regulating Management is the art of second-order thinking: beyond how to “what if” Managing the pipeline is the single most important contribution a manager can make to the company. (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

A view from the sky and street The following numbers are trends from some of the companies we have helped who are generating leads, distributing them to agents – and now dealing with the question: What happened to all those leads? (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

Assessments You don’t need more leads You might even stop generating them until you get management back in the process Most companies are unaware of the extent of the problem Managers don’t see what agents don’t “close” Abandoned leads escape “further” analysis Marketing source, consumer trends in property, price, area, other context from comments, etc. (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

It's a bird! It's a plane! It's a Manager! Managers have the ability to: Assess implementation outcomes Set standards of performance for pipeline / new business conversion Direct / Train agent skills to meet standards Apply second-order knowledge to actual outcomes that further affect staffing, marketing, technology and pipeline (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

1. Monitor Performance in Real Time Xray pipeline every day Source of leads To whom assigned What is happening to them? What else can be learned from the data? (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

New Management Role Monitor process from the “pre-” and “early-” stages of the process Cannot wait until what closes, but must actively save possibly be closable before it’s too late (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

2. Set Standards & Monitor Implementation Companies who establish and communicate expectations– then monitor them – dramatically improve (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

2. Set Standards & Monitor Implementation ROI Standards for: Marketing spend/effectiveness Technology performance / distribution Incubation / nurturing based upon market conditions Sales techniques (qualify, interact, communicate) (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

3. Coach Change, Advise Others Pipeline data indicates performance gaps Coach agents based upon real-time data Advise others Marketing department / vendors Technology infrastructure Recruiting / Retention Decisions (Broker) (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

The Kryptonite Legacy Traditional methods of assigning leads are draining the life force from companies By area served, price range, property type, etc. These criteria are arbitrary, not performance based They undermine client expectations and conversion ratios of expensive, scarce business opportunities (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

Beating the Kryptonite Agents who close leads receive more leads For others: Create a proving process Assign three leads Monitor, assess, confirm before risking more (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

Action Steps Assess your pipeline Benchmark and Ongoing Establish Expectations Monitor and manage Coach to the data Seek and overcome Kryptonite (c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany

For more information:matthewferrara.comfacebook.com/mfcompany

Putting Management Back Into Leads Management

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