Me: “Jack, how was your aunt Jenny’s house hunting trip?”
Jack: “Oh, it was successful, she found a house, made an offer and she’s closing at the end of the month”
Jack: ” …but we didn’t buy it through the agent that you referred us to because we didn’t end up connecting…”
A few weeks ago, my friend Jack asked me for an agent recommendation for her aunt Jenny who was moving to my State (Virginia). Since Jenny wanted to buy a house outside of my area of expertise, I arranged for a referral with an agent whom I knew.
I got Jenny’s info, called the agent about the referral, and made sure that they both connected.
Jenny’s home buying was fairly straight forward
She knew what she wanted, she had made a one week trip to find it, and she had planned to pay cash for the home.
And sure enough, she came, she met with an agent, saw about 4 or 5 houses, made a cash offer above list price and settled within 4 weeks.
There was just one big problem
The problem was – Jenny didn’t meet with the agent that I referred to her. Why?
Because the referral agent didn’t follow up with her …
The referral agent didn’t follow up with Jenny
How much did the agent lose by not making one phone call?
In this case, about $4,000.
And how much did it cost me?
A small referral fee and the embarrassment with my friend Jack who will most certainly hesitate to ask for help from me in the future. Plus, possibly any future business from Jenny.
Boy, did I learn a valuable lesson
How much money have I left on the table through the years because I didn’t consistently follow up with a potential client? Sometimes we focus so much on acquiring new clients that when we get the opportunity to increase our ROI (return on investment) – we’re too busy to actually do the one thing that will get us closer to making money: consistently following up.
To be fair, most of us are prompt to return the first phone call and then we agree to “talk again next week”. And poof! Off goes that good intention.
So, what’s the solution? Well, consistently following up of course!
How can we follow up consistently?
A follow up system is essential to consistently following up. And I don’t mean a fancy, expensive piece of software. I simply mean a written guideline with steps to follow EVERY SINGLE time. It could be as simple as:
“After every phone or email conversation about or with a potential client, make an appointment in my calendar to get back to them. Repeat.”
Having a system that we follow EVERY SINGLE time avoids having to remember loosey-goosey promises of “we’ll touch base next week” (In which “next week” turns into “maybe never unless I happen to remember at some point”).
And I’m sure that when we do this simple thing of following up consistently, we’ll start seeing better returns from our marketing efforts.
Do you have a system for following up consistently? Please share it with us in the comments below.