What are the components of persistent follow up
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This document discusses implementing persistent follow-ups in a sales process. It addresses balancing the frequency of follow-ups with managing time invested per lead. The author proposes using a virtual assistant to manage follow-ups in order to address limitations of manual processes. Key points include: - Determining the optimal number of follow-up calls per lead based on analyzing profitability at different call volumes. - Providing an example process where 50 new leads are generated daily and each lead receives 4 follow-up calls over 10 days, with a 50% response rate. - Suggesting a virtual assistant could help sales reps more effectively manage the complexities of persistent follow-ups at scale, complementing existing CRM
What are the components of persistent follow up
- 2. There is no one tactic to success.
- 3. The Machine produces the tactics , The process makes the Machine.
- 4. Before we start talking how to implement persistent follow up , let us define what do mean by persistent follow up that is not irritating.
- 5. Here is a set of questions I want you to answer.... If the sales person calls the lead and gets a busy tone, when should the sales person try the lead again? Should the sales person call back that evening,tomorrow next week?
- 6. How many times should the sales person call the lead before he gives up? As a sales leader you would not want to give your sales people 1 lead to follow up 1000 times neither you would give them 1000 leads to follow up once. It costs organisational time to do follow ups.
- 7. What is the right balance between calling more frequently and managing time invested per lead?
- 8. Y-axis plots the profitability of calling a lead the number of times denoted in x-axis.
- 9. Whichever call attempt volume yields the highest profitability is the ideal per lead call volume we are looking for.
- 10. Some inferences... A lead for 1 Crs flat to be followed less than a 50 lacs flat lead. A lead for expensive abroad course should be followed less than the low cost one.
- 11. Let us assume that after researching into profitability you decided to follow up a lead 4 times.
- 12. I am sure you will not like to follow up all the 4 times within next 30 minutes.
- 13. Let's assume you decided to follow up not connected leads 4 times in 10 days.
- 14. When your sales rep calls these 50 leads on the first day, I wish you would agree the fact that they do not get all 50 picking the phone and talking. Rather with majority there is no connect. So let's assume with 50% we have connect. Hence we dial 50 , we get 25 not contacted, we call 25 we have 12 not connected and so on. Assume you are generating 50 leads per day...
- 15. Hence... Assume every day you are generating 50 leads per day. Assume you are following a lead 4 times in 10 days. Assume that the reply rate is 50%. So if you reps are dialling 10 prospects, they get connected to 5 prospects. Assume we are on 7th October, and let's see
- 16. Date 1st Oct. 3rd oct. 4th oct. 5th Oct. 6th Oct. 7th Oct. 8th oct 9th oct 1st oct 50 25 12 3rd oct 50 25 12 4th Oct. 50 25 12 5th Oct. 50 25 6th Oct. 50 25 7th Oct. 50 25
- 17. So on 7th October. I have 12 leads of 1st October. Whose third follow up call is pending, 25 leads of 6th October. And 50 fresh leads of 7 th oct. To recall you again, these 12 leads of 1st Oct. has been Dialed but no conversation has happened even for once over the phone. In real life scenario lead flow is not same every day. Also the medium of follow up is not only phone but sms and email also. In actual scenario the number of follow ups might be more than 4 times.
- 18. As we evaluate all the real life scenarios, with other complexities, it is not possible to manage persistent follow up, manually?
- 19. As aspirational sales leaders,you know desire ,not necessity, is the mother of invention.
- 20. Development of new technologies follows from the failure of existing ones to perform as promised or imagined.
- 21. Thus we moved from rocks to hammer to 1000 different types of hammers.
- 22. Past success, no matter how numerous and universal , are no guarantee of future performance in new context.
- 23. What if all your sales reps gets a virtual assistant to manage all the follow ups ?
- 24. Would you like to know how this virtual assistant functions? What if you are using or not using a crm? Is there a lot of automation so that there is no manual work again? If you want to know these things please drop me a mail at sudip
- 25. May I share you how a technology , which is not crm system, rather it complements a crm system can help you manage this.
- 26. Email or what's app and I will send you. 9999061525.