6 No-Fail Follow Up Steps

Becoming a Master of Fearless Follow Up

Let’s Start with Some Stats

• 48% of Sales People Never Follow-Up with a Prospect

• 25% of Sales People Make a Second Contact and Stop

• 12% of Sales People Only Make 3 Contacts and Stop

• Only 10% of Sales People Make More than 3 Contacts

• 2% of Sales are Made on the First Contact

• 3% of Sales are Made on the Second Contact

• 5% of Sales are Made on the Third Contact

• 10% of Sales are Made on the Fourth Contact

• 80% of Sales are Made on the Fifth to Twelfth

The Basics…

CustomerRelationship Tool

Your Success will be determined by 2 things

1. The Number of Contacts in your Manager

2. The Quality of Relationships you have with the people in your Manager

Add 1-2 New People Per day - If you take on 10 per week – your chances of success go up

20%

The Money IS in the Follow Up

• Every time you go to a networking event and don’t follow-up, it’s a wasted opportunity.  

Why did you even go?

The Money IS in the Follow Up

You need to BREAK THROUGH Your Barriers to Following up!

Let’s Become a Magician…

Let’s turn pieces of Cardboard into $100 Bills

What is the value of a business card? It’s made of cardboard and ink.

On average we pay about $50 for 1000 cards. Which makes them about 5 cents each

We often treat someone’s business card like the 5-cent piece of cardboard it is: throw it on our desk, stick it in a drawer, stuff it in our pocket, and forget about it.

But if you had a business card worth $50 how would you treat it? What if it were worth $100 or $1000?

Let’s say you moved to a new town and during your first week you went around and introduced yourself to 100 business owners and got 100 Business cards

Turning Pieces of Cardboard into $$$$$

Now Listen Carefully – The 6 No Fail Follow Up Steps are not so subtly imbedded in this part of the Conversation

What is your LVC – Lifetime Value of a Customer?

Assuming that your Customer stays a client for the next 10 years (averaged out), how much would you expect they would spend with you?

When we collect 100 business cards, our job is to turn some of them into lifelong customers or in some cases distributors.

Each time I take some action, I increase the chances that one or more of my business card contacts will turn into life long customers.

How many contacts with a prospect does it take to turn them into a lead?

Let’s assume that your LVC is $5000

If I collect 100 business cards and just do Action 1 – make a quick call to each person and just one of them becomes a lifelong customer, then I collect $5000 (the lifetime value of a customer);

$5000 divided by one hundred business cards means that each card is worth $50 to me.

We have just exponentially grown their worth from 5 cents to $50

Appreciation Just Works…

If I collect 100 business cards and just do Action 2, make a call and send a card to each one, and just two become lifelong customers…

Then I collect $10,000 (the lifetime value of a customer times 2;

$10,000 divided by 100 business cards means that each card is worth $100 to me.

People are Happier when Eating…

There are many, many ways to fulfill on Action 3

Invite them for Coffee, Lunch or dinner

On a budget?• Use a coupon book like the

Entertainment Book,• Use a Foodie Card• Invite them to an event

where food is provided

People love Presents!

Gifts are ALWAYS appreciated!

The best Gift is a Thoughtful Gift

Gifts do not have to cost anything

It is best if you can combine this action with other actions

Show that You Care –Show Them the MONEY!

Did you know that referring business to someone that your customer cares about invokes the same feelings as if you referred the business to them?

Relationships are Built over Time

Consistency is key to creating life long customers.

Set up tasks in your CRM (Customer Relationship Management tool) to follow up with some sort of contact 3 months, 6 months, 9 months and 12 months after first contact.

Actions in Review

Action Result

1. I make a call to each one One becomes a lifelong customer

2. I make a call and send a card to each

Two become lifelong customers

3. I buy or make each person lunch

Three become lifelong customers

4. I send each one a gift Four become lifelong customers

5. I send each one some business

Five become lifelong customers

6. I stay in contact with each person

Six become lifelong customers

7. I do ALL of the above Ten become lifelong customers

What about our pieces of Cardboard?

If I do a great job at each of these six (or even better, seven things) on a regular basis for the next two years, I can expect to have ten or so new lifelong customers as a result of my attention to the true value of each person I have met.

This assumes a 10% success rate. However,

How many of you know that you do better than 1 out of every 10 potentials?

Using our example from earlier…

When 10 people become my lifetime customers, I will have collected $50,000

$50,000 divided by 100 new business card contacts equals $500 per business card!

How would you treat each card and each contact if you knew that each one was worth $500?

We just turned cardboard into $500 Bills !

Can you see why some business owners become wealthy while others struggle their entire lifetime?

This concept alone could be worth thousands or even millions to you.

Now – let’s look at the indirect level of this.

A customer with a lifetime value of $5,000 might refer two people to you who also become lifelong customers. That adds $10,000 to the lifetime value of each customer!

The lifetime value of a customer to you may be much more than $5,000.

The Key Factors for Success

• Consistency Means Everything• Your Integrity will outlast your energy• Take on the 100% Game• The Velocity with which you follow up is directly

proportionate to the speed with which you create Referral to Referral

• Provide Complete Answers to Questions Quickly

• That which is measured Matters – Measure Everything

2 Invitations for You

Tomorrow Evening and Every Wednesday Night

Rapid Time Networks Burnaby meets at The Burnaby Palace Restaurant

Join us tomorrow for: “50 Shades of Pay” a crowd source on the 50 most impactful business and personal development books of all time.

$5 fee – Feel Free to Join us for Dinner at 5:30

Great Expectations 2013Each year I offer a one day

workshop to complete the year and create the next year.

This year: Saturday, December 28th, 2013

9:30-5:30 $59.95Receive 25% off using the

code VBN25RTN Members receive a

Commission for Every Ticket Sold

To Schedule a Free Consultation to

Review your Follow Up Structure and Mock your Follow Up Conversations go to:

www.radicalideas.ca/clientsarea