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. T: 617.266.9166
www.bostonlogic.com
STRATEGIES TO EFFECTIVELY MANAGE
AND CONVERT LEADS
Close More of the Leads You Get!
Presented by: David Friedman
President, Founder
Boston Logic Technology Partners, Inc.
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. 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. 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. WHAT TODAY’S
CONSUMER 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. 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 the
first place?
T: 617.266.9166
www.bostonlogic.com
7. …of all leads were
abandoned within
72 hours
Source: Michael Ferrera & Co. T: 617.266.9166
www.bostonlogic.com
8. …of all leads are
abandoned within
30 days
Source: Michael Ferrera & Co. T: 617.266.9166
www.bostonlogic.com
9. …of all abandoned
leads never actually
had a dialogue
between customer &
agent
Source: Michael Ferrera & Co. T: 617.266.9166
www.bostonlogic.com
10. …leads were
abandoned
“The customer didn’t
call me back”
Source: Michael Ferrera & Co. T: 617.266.9166
www.bostonlogic.com
11. FALSE!
“They didn’t call me back right away, therefore, they’re not
interested and they’re not worth my time!”
T: 617.266.9166
www.bostonlogic.com
12. SO…
1. Make sure you follow up
2. Make sure your follow up is effective
T: 617.266.9166
www.bostonlogic.com
13. Real Example Response:
(The wrong way)
This great house is currently available and is located off of Main
St. and Sutton Ave- a very nice area. Ths school district is
Kirkwood 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. Real Example Response:
(The right way)
Thank you for your email and for your visit to
MyRealEstateWebsite.com.
In answer to your question (provide answer). I would love to
show you this property and am available (provide options).
I have also provided links to properties that are similar to the
one about which you inquired.
I’m available to answer any further questions and discuss your
current situation. Please call me directly at (provide number). I
can be reached (provide options).
T: 617.266.9166
www.bostonlogic.com
15. EFFECTIVE MANAGEMENT OF
INQUIRIES 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. Inquiry Management Best Practices
• Respond ASAP
• Within 5 minutes
• Get the tools you need!
• Always answer questions
Email:
• 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. 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. 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. 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. AFTER YOU’VE MADE FIRST CONTACT
PASSIVE 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. THE SAME PRINCIPLES HOLD TRUE THROUGHOUT THE
CLIENT 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