The importance of following up your leads

In the sales industry, the ability to proficiently follow up on leads is a critical skill, yet it’s an area where many fall short.

At Sales Geek, our mission is to transform the world’s perception of sales, advocating that there is a correct approach to selling. We aim to show people in cultivating the right mindset, eliminating the fear of sales that often stems from negative stereotypes portrayed in the media and the actions of ineffective salespeople.

A lead is a prospective customer who has demonstrated interest in your product or service but has not yet decided to make a purchase. The process of following up on leads entails maintaining regular communication with them, providing relevant information, addressing their queries or concerns, and guiding them towards the final purchase.
The significance of following up on leads is immense. It serves multiple key functions: it enables you to build trust and rapport with potential customers, it distinguishes you from your competitors, it enhances your conversion rate, and it encourages repeat and referral business. Research suggests that 80% of sales require at least five follow-ups, yet 44% of salespeople abandon the process after just one follow-up. This indicates that by consistently following up on your leads, you can gain a substantial competitive advantage and close more deals.

Moreover, statistics indicate that the probability of selling to an existing customer is 60-70%, as opposed to a mere 5-20% chance of selling to a new prospect. This suggests that by following up on your leads, you can boost customer retention and loyalty, both of which are vital for long-term success.

However, it’s also crucial to address the fear of sales that can sometimes result in overzealous follow-ups. It’s understandable to feel nervous about losing a potential sale, but it’s essential to find a balance. Overzealous follow-ups can appear desperate or aggressive, which can dissuade potential customers. Instead, strive for regular, respectful follow-ups that show your genuine interest in assisting the customer. Remember, the objective is not merely to make a sale, but to establish a relationship.

By overcoming the fear of sales and adopting a more confident, customer-focused approach, you can ensure that your follow-ups are effective and well-received. This not only increases your chances of closing a deal but also contributes to a positive reputation and long-term success in your sales career. So, embrace the follow-up process, let go of the fear, and watch your sales flourish.

If you have an accountant, they should be your first stop for business advice. If you don’t have an accountant or they can’t help, BuBul has a wide range of experts available. For more advice, contact our expert* Hayden on LinkedIn.

*We’ve picked experts we know and trust who are good at what they do. All of them will give you at least an extra 30 minutes free advice if you contact them and would then charge their normal prices. They don’t pay to be on BuBul and don’t give us any money from anything they earn as an expert.