Minnesota Real Estate Investors Compound Effect
CRM Follow Up Stats
As you can see from the main image of this blog post, most people will NOT follow up with leads, and will NOT follow up to ever have a chance to build relationships.
For many businesses with higher LTV (Lifetime Value of a Customer). It just makes sense to have a CRM (Customer Relationship Management) system.
This often includes at a minimum data with names, phone numbers and notes. You may also want to have a built in email drip campaign to stay top of mind with them.
I know a lot of stats have been released showing how many follow ups it takes to get the sale, to close the sale, and based on others not having daily habits, there isn’t much competition.
As the quote goes, in the extra mile there isn’t much competition. This is why I like building systems where we get people from the online marketing to the phone via text or inbound calls, so that a sales person knows which ones to invest time in and who is willing to put the action in on both ends.
Soon our sales people will build up relationships to a deeper level that online marketers just can’t do.
I love the idea of video marketing online, but 1 on 1 over the phone or in person still is something that online marketing can’t compete on.
Most of us what incoming calls and great leads to follow up on and talk to in person or by phone, but don’t confuse this with chasing people all around town to have lunch with or go to coffee places with just to get your message out.
People you chase often need to chase you, and it’s just you both selling each other on your own business, and often not an efficient use of your time.
Minnesota Real Estate Investors Compound Effect
Retention, Referrals, Relationships
3 big focuses that I have with systems is the retention of keeping people around, or recurring income due to value. Also when you give great service for awhile, you can gain referrals, which makes each customer or client worth even more.
Also in the process of retention, and giving great value and monetizing things long-term, you are building up relationships along the way. It’s like you are killing 3 birds with one aligned focus stone. You build referrals from relationships that have seen great value.
Relationships come from retention of giving value. Through feedback loops, and product market fit for your recurring service you can pin point your value proposition and then you can use that pain point that you are solving for the market place and put it in your online marketing headlines, and subheadlines of your copywriting.
This way you will be attracting more of the RIGHT leads. For example if you ONLY attract 10% as many leads with qualifying them based on the RIGHT leads that send referrals, that pay recurring service fees and you build up very long-term solid relationships then you don’t need as many leads, and you don’t need to use so much hype like most online marketers who don’t have retention, or recurring income which need to push 100x harder because they need 100x more initial small sales.
Minnesota Real Estate Investors Asset of a Pipeline of Leads and Relationships
One dynamic I’ve enjoyed with CRM, systems and pipelines is that there becomes a point where enough time and money has been invested in the pipeline, that a team of people realize that they are sitting on a potential $100,000 or $200,000 in unrealized income in the CRM, it’s just a matter of following up and pushing it through the sales cycle little by little.
As a team we are no longer in the beginning stages where people want to count people who liked a facebook page as a lead, where as we can get 300 people in a CRM that we have had real conversations with, know about their family, their credit history, credit score, their goals, vision and much more.
These are real leads that have filtered down through 10,000’s of people who thought of calling, or never called back. These leads are a real asset, these are real leads.
What happens is that the monthly income becomes more predictable due to a large pipeline of warmer leads.
Also what’s great is as we work the system and close more IDEAL customers we get to fine-tune our headlines and message on the front end to find customers who will make OUR time more efficient.
This all is a holistic view of an overall system and how everything connects.
When the system makes everyone’s time more efficient, it makes people either make more time, and or have more free time to invest with their family and friends and live a more stress free lifestyle.
If this sounds like you, click here
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