You may have heard the phrase “the fortune is in the follow-up.” Let’s talk for a moment about what that means to YOU, the small business owner.
Unfortunately for most entrepreneurs, up to a whopping 79% of prospects who have shown an interest in your products and services will never actually buy your products/services. Not because they don’t want to (necessarily), but in many cases because business owners don’t follow-up with their prospects on a consistent basis. According to MarketingSherpa, a leading source of marketing research and training for marketers, this happens when companies don’t have an effective way to nurture prospective clients, and in the process build a working relationship with their ideal peeps.
Other surveys claim that leads who are nurtured over time account for a 20% increase in sales versus leads who are NOT nurtured, and that these nurtured prospects are 47% more likely to make large purchases. (Which means, in plain English, that you could not only increase your product/service sales by 20% – at least – but you could be more likely to sell your high-ticket, platinum programs and services. Just by following up with your prospects in a way we’ll talk about in a moment. Things that make ya go hmmm…)
So, how does this look in your business?
Let’s take a look at an example. Let’s say Sally Prospect interacts with your business in some way, shape, or form, such as by visiting your website, requesting a free report, claiming a free consultation with you, etc., but she doesn’t become a paying client by hiring you or buying one of your products/programs. Here’s what most business owners do from there: (click here to continue reading)
Most entrepreneurs are so consumed with chasing after NEW prospects and NEW clients that they completely ignore the folks who are already in their network and have already shown an interest in what they have to offer.
In a nutshell, here’s why: they confuse the prospect’s “no” answer with “not ever.”
And so when they don’t get an immediate sale, they write that prospect off as uninterested/unavailable/etc. (Or they just plain forget about poor Sally Prospect in the busyness of everyday life.)
But unless Sally Prospect came right out and said, “I have zero interest in your products and services, so please don’t bother me again,” I want you to assume one thing:
“No” means “not now.”
There could be a million reasons why Sally Prospect isn’t buying your products and services. Such as:
- She doesn’t have the budget for it (right now)
- She doesn’t value the product/service (which is a topic for another day)
- She has other, more pressing needs that require her attention (today)
- She’s had a bad day and/or just doesn’t feel like it
- The moon is in retrograde
Okay, so I’m teasing a bit with the last one but I think you get my point. The bottom line is that one folks raise their hands and ID themselves as prospects of your products/services, they should remain a viable prospect until they buy or tell you to go away.
That doesn’t mean you should call/email them every day with a new offer or, essentially, begging them to buy now.
Au contraire, what it DOES mean is touching base with these prospects in a helpful, unobtrusive way, by offering them a blend of useful information and relevant offers.
The best way to do that is to build an email database of your prospects and send them a consistent trust-building, expertise-establishing email newsletter alongside promotions of your products/services.
In the coming weeks, I’ll be hosting a free teleclass to talk more about HOW to do this, so please click here to sign up for our free email newsletter (if you’re not already subscribed) and then watch your email for more info. 🙂 In the meantime, if you have any thoughts or comments, I’d love to hear them! Please scroll down to the “Speak Your Mind” box below and leave your reply.
ABOUT THE AUTHOR: Tammi Metzler, founder of The Write Associate, is a Marketing Copy Strategist who helps solo entrepreneurs worldwide get more clients with their online marketing efforts. Her one-on-one copywriting services and marketing training materials have helped clients achieve outstanding results, including as much as a 600% increase in new clients within just a few weeks’ time. To access her steadily-growing library of f.ree & low-cost client-attraction resources, please visit www.writeassociate.com.