02.08.20162 min read

Fix Follow-up Failure

Many years ago, I was talking to a mortgage broker whose 10-person company was growing, but not as fast as he would have liked. He was a classic stage three business, crossing into stage four, with just over a million dollars per year in sales. He was enjoying a degree of success, with many of his friends and family members now patting him on the back.

But Doug was not taking home as much money as he wanted, he wasn’t taking vacation like he wanted, his employees were cherry-picking the good leads and ignoring the mediocre leads, and he was spending more and more on marketing to keep the company growing. Then he discovered the leaks in the bucket that were costing him growth:

Doug’s loan officers (sales reps) were not following up with leads and prospects who had shown interest.

This is a form of “follow-up failure” and it costs small businesses untold sales and profits year after year.

People buy when they’re ready to buy, not when we’re ready to sell. It’s all a matter of timing. But, they express interest in your offering at various points in their buying journey. So, if you get 10 leads, two or three might be hot, four or five might be warm, and two or three might be cold. If you only work with the hot leads, you’re leaving tons of opportunity on the table.

Doug found that his loan officers were only working the hot leads. This is called “cherry picking” in the sales world. Big companies can get away with it, but it kills small businesses. When Doug fixed his cherry-picking problem by creating a follow-up process for the leads that weren’t hot and being worked by his team, his sales and profits soared.

SBS Idea of the Day: Consider the “warm” and “cold” leads that come into your business each month.  Do you have a process for following up with them to warm them up to the point they’re ready to buy?  Fix your follow-up with warm leads and like Doug, you will see sales and profits soar. 


This Time, It's Personal - Download Now
Was this post helpful?
Created with Sketch.
Infusionsoft cornerstone spinner
close button
Subscribe to our weekly newsletter!

5 Reasons to Subscribe:

1. Weekly tips to dominate sales and marketing

At our core, we're focused on helping you become a sales and marketing machine. We tap into the genius of the best salesfolks and marketers out there to give you daily tips to grow your leads, make more sales, and keep more customers.

2. Expert small business resources that cost you zero dollars

Want to go deep? We have you covered with free guides, webinars, and tools on a range of topics from marketing automation, CRM, and digital marketing to building sales and marketing strategies from the ground up. All for free. All for you.

3. We're focused 100 percent on small business success

We exist for one reason: helping small businesses succeed. We give you the ideas and insights you need to blow the competition out of the water. We serve business owners who are hungry to put in the hard work to grow their business and own the market.

4. We do the work for you

Running a small business is a 110 percent endeavor. You don't have time to surf Internet for the best small business insights and ideas out there. We'll do that for you with the best original content from our team and from industry experts and small business owners.

5. But wait, there's more!

Small business success means more than just sales and marketing, so we also hit on a range of topics to help your small business thrive, including personal and business growth, customer service, and business management.

6. Righteous GIFs

OK, we said five reasons, but we like to overdeliver...and GIFs. We really like GIFs. You're bound to see some righteous ones.

GIF of Ferris Bueler principal's assistant

P.S. We'll never give out your information. We'll only use it to send you awesome content and resources, if you're cool with that.