If we want to maximize every prospect, then we have to continually sharpen our ability to follow-up effectively. Unless it was a referral, just about every prospect is going to require multiple follow-ups before we can convert them into clients — and that’s usually true for referrals, as well. It may seem like a quick call or email is the best way to go, but there really is an art to following up, and once you learn the nuances, you’re closing ratio will improve. Here are a few good ideas for LOs to improve their follow-up:
Persistence and Pushiness are Not the Same
There’s a delicate balance in finding the appropriate frequency and number of follow-ups, and it’s different from prospect to prospect. Reaching out too often can make you seem pushy and desperate for business, while reaching out too little can make you seem disinterested or unprofessional. Either way, you could be losing out on valuable opportunities. It takes time to learn the balance, and the key to getting there is to have a follow-up strategy in place. Pushiness never works, but persistence is rewarded more times than not. I wrote recently about persistence being the key to sales success, here.
Develop a Follow-Up Strategy
I mentioned the importance of a follow-up strategy above, but how do we design and implement one? Having a CRM that you rely on is a great first step. CRMs allow you to track each prospect from the first contact, including how many messages you’ve left, the subject of those messages, they also allow you to input notes from every interaction and meeting. Your follow-up strategy should be a detailed plan for staying in touch with prospects, including the optimal interval between outreach attempts. Again, it will differ a bit from prospect to prospect, but having a template in place to follow will ensure you’re on top of each one, and nothing falls through the cracks.
Demonstrate Value
An important component of your follow-up strategy should be the content of your follow-up messages. An email with ‘just following up’ isn’t going to sway an on-the-fence prospect in your direction. Instead, think of ways you can earn their business. Ask yourself how you can provide some value with every follow-up outreach. Share useful information, provide prospects with some details on their options, and show your prospects that they’re a priority, and that you’re committed to helping them get the loan that’s best for them.
Customize
While being strategic with your follow-up efforts will help immensely, it shouldn’t ever feel like it’s an automated process. You may know when and how you’ll reach out next, but each message should be customized for each prospect. If you’re using a template for some of your outreach, make sure you personalize it for each individual prospect before sending it to them. Mentioning details that they’ve shared with you or concerns they’ve voiced will show that you’ve been listening, and that you’re committed to building a relationship with them — not just trying to get their business.
Following up is a big part of the job, so it deserves more attention. The better you get it at, the more business you’ll see in return.
If you like what you’re reading, you can get my weekly articles for loan officers right to your email inbox. Subscribe today at MD-LoanOfficer.com.
Comentarios