Would you use a leaky bucket that had sprung a bunch of leaks? You keep filling it only to waste water more and more as you go.
Of course you wouldn’t. You’d either fix it or get a new one.
Many businesses have the equivalent of a leaky bucket. Where lots of time gets wasted, often without you even realising it.
One of the greatest leaks occurs in your marketing. Not following up correctly.
Here’s a real example I recently encountered.
The business places expensive advertisements for a franchise opportunity in trade magazines. The ads cost upwards of $5,000 each.
Prospects respond asking for more information.
A package is then sent out containing a questionnaire they can fill out if they’re interested in having a meeting to discuss the franchise opportunity.
Very few send the questionnaire back. And that’s where it stops.
The franchise owner’s attitude is, “Forget them – they’re not interested. Move on”.
And that’s a huge mistake and a good way to waste $5,000.
These people were interested in something the business had to offer. Maybe some of them are spurious enquiries, but a small percentage could be good quality prospects who just aren’t ready yet.
So what should the franchisor be doing instead?
The first thing you need to realise is everyone’s busy.
Sure, they asked for more information. But they may not have even opened it. And if they did, scanned it and put it aside to get to later. Maybe the kids were screaming, maybe dinner had to be put on the table. There are a myriad interruptions. Life comes in the way!
So the first thing I suggested was to send them a reminder.
The package went out in the mail – so send it again. Yes, send the whole thing again. If you just send them a reminder letter, they have to go looking for the original package – and who knows if they’ll find it. Make their lives easy!
If you still don’t hear from them, send them a couple of follow up reminder letters referring back to their original request, spaced about 3 weeks apart.
Then pick up the phone and call. But here’s a critical point. DO NOT TRY TO SELL ANYTHING!
Your job at this point is to find out more about them.
It’s a very gentle probing exercise – not an interrogation. You want to find out what prompted them to respond to the ad in the first place. What their situation is, what their hopes are, what else they’d like to know in order to move forward.
Your goal is to discover their truth. Not to make them feel pressured into making a decision so they’ll run a mile.
Do not ask manipulative questions. Questions that put them into a bind – where they feel pressured to move ahead due to answers they gave.
Ask them, “Where would you like to go from here”.
If they’re interested but not ready, institute a keep in touch mechanism that keeps them warm.
Offer to send them regular information containing tips, case studies and testimonials of franchisees who’ve been successful.
Some sales are quick. Others especially where it’s a major life decision like buying a business, could take months or even years.
Your job is to be there when they’re ready.
Exactly the same methodology applies regardless of how you get in front of a prospect. Be it by referral or you reaching out to them and sending them introductory material. If you don’t follow up relentlessly, you will miss out on business.
Need more leads and sales in your business?
Have us create a full lead generation and automated follow up system which attracts and nurtures prospects until they’re ready to have a sales conversation with you.
Then use our proven selling methodologies to convert them into long term clients.
Call us on (02) 9499-7958 or reply to this email to get started.
Rashid & Barbara.