It is always hard to find new clients and then if they are willing to sing up a new engagement agreement with your company.
An average consultant has similar concerns.
Only 5-15 percent of their leads turn into paying clients out of 100 lead conversations they hold. However, by using a systematic approach to lead conversations, there is a possibility to easily increase your lead conversation rate up to 35 percent.
Here are some inputs on how to improve your lead conversation:
You must have a dedicated intake specialist
A consultant does not go after a lead with the kind of persistence and dedication it takes to convert new clients. If you are not willing to hire a dedicated intake specialist and train them specifically to go after leads like a pit bull, then you are wasting your money on generating leads. You can do it by yourself but it’s a challenge to find the balance between an attacking pit pull and an understanding consultant.
A sense of urgency when following up leads
Research indicated that your conversion rates drop dramatically if you fail to follow up within 5 minutes after the lead comes in. I you don’t follow up within the next 5 to 10 minutes your lead conversation rate drops by half. It is really important to follow up the leads immediately.
Your intake specialist must call them a minimum of 7-10 times before giving up
No, the numbers are not an error. If you want to win any leads you have to work harder than anyone else.
First day: There should be three calls made. One within 5 minutes, a second within an hour and the third by the end of the day.
Second day: Two more calls should be made.
Third day: Two additional calls should be made.
Following 2 – 3 days: Ideally one call per day.
3-5 emails in addition to the phone calls
These emails should be educational in nature and subtly inform them of why they should call you and make an appointment.
Track every single lead
– How many of your leads turn into appointments?
– How many potential new clients show up for their appointments?
– How many sing up at the initial meeting?
– How many clients do sing up afterwards?
It is important that you track your leads so that you can see where there are problems in your intake process and fix them.
Use a lead conversation software
There are three components to become a successful consultancy firm: staff, software and systems. You need the right people running a lead conversation software and following a precise process of intake and lead conversation. This is completely different from using practice management software.
If you have any further questions regarding leads do not hesitate to contact us and we will be happy to assist you.