Prospective real estate clients. Making a follow-up on such visits is the sure way to net that sale. PHOTO | FILE
One of the common mistakes in marketing is lack of effective follow up. It is one of the few activities that has the highest returns on investment if done well and consistently.
Although most marketers engage in numerous marketing drives such as advertising both online and offline, networking, giving out business cards and promotional material, visiting or calling customers, they do dismally when it comes to following them up after the first encounter.
In fact, a big chunk of time and resources devoted to sales and marketing go to waste due to lack of following up.
Failure to do this is compared to filling up your bathtub without first putting the stopper in the drain. You simply fetch a lot of water but retain little or nothing.
One question many marketers often ask is how many times one should visit or call a prospective client before they either get a sale or end the chase.
Well, there is no direct or single answer to this question. It depends on individual prospects, your approach, the depth of your interaction, and what you are selling, among other factors.
In some industries about 80 per cent of all sales happen on or after the fifth contact. This underscores the importance of follow up.
Except for impulsive products of low value, most people are unlikely to buy from you on the first interaction. If the product is expensive, technical in nature, less understood by the prospect or there are some risks associated with it, the prospect will certainly take time before making a purchase decision.
Every marketer should establish a good follow up system. An effective method will increase sales and save the cost of marketing in the long term. It could be as simple as keeping contacts of prospective buyers and getting in touch through email, phone or scheduled visits.
Basically, there are three categories of people who should be followed up with the required zeal. The first category is the suspected buyer. These are people you think could need your products and have the ability to buy but are not aware of your offering.
The second group comprises prospects. These are people who have responded to your marketing or showed interest by making inquiries by phone, email, visit or any other means but have not purchased from you before.
The third comprises your customers. These are the people who have purchased something from you.
The strategy and the message conveyed during follow up should be tailored to match their individual needs. The suspect need to informed and enticed to come near; to give you audience so that you can propose or demonstrate what your product can do for them.
This may involve trying to book appointment to visit them, inviting them to visit your offices or website as well as directing them where they can get independent testimonials of satisfied customers.
Prospects need to be persuaded to make their first buy. Your aim should be to dispel fear and any concern that may be holding them from making purchase decisions. This may involve giving them assurances or guarantees as well as testimonials of happy customers to build trust.
Finally, you should keep in touch with your customers to ensure they are always happy and thinking positively about your relationship so that they don’t shift focus to competition.
Your ultimate aim is to persuade them to keep buying from you and request them to give you referrals and tell their friends about your products.
Mr Kiunga is a business trainer and the author of The Art of Entrepreneurship: Strategies to Succeed in a Competitive Market. [email protected]
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