Putting Management Back Into Leads Management

Agenda,[object Object],A New Management Discipline,[object Object],4 Problems,[object Object],3 Solutions,[object Object],1 Radical Idea,[object Object],Action Steps,[object Object],(c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany,[object Object]

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

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

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

A view from the sky and street,[object Object],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:,[object Object],What happened to all those leads?,[object Object],(c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany,[object Object]

77% ,[object Object],… of all abandoned leads never actually had a dialogue between customer and agent.,[object Object],(c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany,[object Object]

#1 Reason,[object Object],… leads were abandoned:,[object Object],“ The customer didn’t call me back!”,[object Object],(c) 2010 Matthew Ferrara & Co. matthewferrara.com – facebook.com/mfcompany,[object Object]

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

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

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

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

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

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

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

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

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

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

For more information:matthewferrara.comfacebook.com/mfcompany,[object Object]

Putting Management Back Into Leads Management

Putting Management Back Into Leads Management

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