You put a lot of effort and investment into getting more leads for your business. But have you ever thought about how easy it can be to scare off new leads? Your business could be suffering from this problem – and you might not even know it. So, we put together a list of five (scarily common) ways many businesses lose leads (and what you can do to avoid them).
We Present: The 5 Monsters of Lead Loss
1) The Ghost of Unanswered Phones
Phone calls are important for any small business because they’re one of the top ways new customers initially contact a company. In fact, 51% of ReachLocal readers said in a recent poll that the primary way new customers contact them is via phone.
But there’s no better way to kill a lead than when a prospect calls your business and you don’t answer. All the life, energy, and investment you spent on trying to drive calls to your business simply die when you leave your phone vacant and unattended. Save your lead management from this monster by making sure you have a living soul ready to answer each call that comes through.
2) The Zombie of Bad Call Handling
Have you ever listened in on the phone calls your business answers? If you did, you might be surprised just how mindlessly some people treat new leads. If you don’t give your staff the knowledge and sales skills to handle each call that comes in, you might be just as well off with zombies answering the phone. So, make sure everyone on your team is well versed on exactly how to handle all the types of phone inquiries your business regularly receives.
3) The Skeleton of Sketchy Information
Even the best phone handling can die before its time if just a skeletal amount of information is gathered from a customer. Without a system in place that requires people to collect and store all the right information, you might have to lay too many leads in the graveyard of sketchy information for eternity.
Getting the right information from a new contact enables you to follow up with them in a timely manner. Did you know that according to Insidesales.com, the odds of making contact with a new lead drop by 3000x if you wait more than 5 hours to call them back? You’re more likely to successfully turn a contact into a new lead if you do it quickly – and you can’t follow up with people unless you’ve got all their information. So, make sure to put a system in place that requires everyone who answers to the phone to capture details like the name, phone number, email address, and call details from each prospect that calls your business.
4) The Demon of Ignoring Hot Leads
Some leads are hot. Red hot. When a lead gets to a point when they are talking about your product and service options, getting a quote, or setting up an appointment, they probably want to do business with you. Why would you banish them into the fires of ignored leads? It sounds unthinkable, but sadly, it happens every day. Don’t ignore hot leads or treat them like they aren’t a priority. Put a system in place that helps you identify and quickly follow up with leads who are ready to buy.
5) The Grim Reaper of Poor Follow Up
All leads deserve your time and attention: you brought them to life through your marketing efforts! Don’t kill your leads through neglect (even if they’re not ready to buy now). Instead, follow up regularly using emails and phone calls to show their existence matters to you (and that you’d like to win their business!)
Lead nurturing is a great way to make sure you are following up regularly with all your leads. And, companies using lead nurturing campaigns report 45% higher ROI than those not using lead nurturing.
What Are Your Monsters of Lead Loss?
Is your business a victim of any of these monsters of lead management? Are there other (perhaps less terrifying) ways your business is leaking leads? Discover more about the problem of lead loss at our new educational website DontLeakLeads.com where you can find more insights, tools, and advice on what to do about lost leads.