Mortgages by Marlow Lead Follow Up Plan

We've all been there.

We receive a lead or a referral that needs our services, maybe they answer the first time we call or maybe they never answer their phone. 

Then either after the first conversation, they either enter witness protection or never answer again. But, did we follow up with them enough for them to trust us? Or worse yet, you give someone a referral and they either never reach out or they never seem to get the person to answer their phone. Studies show that it takes at least 8 interactions with a lead for them to answer your call. The majority of people reaching out to leads stop after 1-3 attempts. Even more important, 80% of sales require at least 5 follow up calls after the initial meeting. 44% of sales reps give up after 1 follow up attempt. Not all leads are created equally and the warmer the lead, the easier the conversion, but the most important aspect is consistent throughout. If there is no documented process in place to ensure we are touching each lead the minimum amount of times to produce the best result, we are doing not only ourselves a disservice, but we are also doing our referral partners a disservice. Also what is sometimes overlooked is to contact people how they prefer to be contacted. This day and age, it is very common for people to refuse to answer the phone without knowing who is calling so it is important to incorporate not only phone calls but texting and email as well. 

This is why I have recently crafted and implemented the following documented follow up process that I use with any new lead that I receive. Doesn't matter if it is an internet lead or my best friend's cousin, everyone goes through the same process. Warmer leads typically answer faster than cold ones but staying consistent produces consistent results. 

Process:

• Lead is received
  • Day 1
    • Call immediately unless specified otherwise from the referral partner.
      • If no answer, send an introduction text message stating who I am.
    • 2nd call an hour later.
      • If no answer, call immediately again after the call. Leave a voicemail if no answer on the second call. 
      • Send Email
    • 4th call before being done with the work day
  • Day 2 
    • • 5th call first thing in the workday.
        • If still no answer, send a second intro text.
      • 6th call towards the end of the workday.
        • Calling at different times of day to account for not knowing the leads schedule.
    • Day 3-14
      • Call daily 
      • Send texts and emails alternating days and times. 
    • Days 15+ 
      • After 14 calls (if needed) over the first 2 weeks, if the lead has still not answered they are called weekly until it has been 30 days since receiving. After the 30 day mark, they are called once per month on rotation and put on a drip campaign to stay top of mind. 
• Every call/text/email is logged on a lead follow up tracker. The data from these trackers will over time enable better efficiency and even stronger conversion rates. 
• Once the initial conversation occurs, the prospect is then put on a follow up plan that correlates with their timelines and needs. 

As commission sales professionals, we deal with an income rollercoaster as a natural part of our business, but having systems in place to maximize our efficiency and allowing us to capitalize on any opportunity that comes our way is the way that we will thrive. The more we have in place to help convert leads, the more consistent our business will be. Less of the feast or famine that is so common in all sales careers. 

If you are reading this, that means that you are someone who I value in my business and whose business I want to help grow along with mine. This is not a public page and cannot be found by going onto my main website. Save the link or copy and paste the nuts and bolts of it to start using it. Implementing even a fraction of this process will improve your conversion rate. I personally am following this process with every lead that I receive and the results are fantastic.