The fortune is in the follow-up.

I believe Jim Rohn, who is an American entrepreneur, author, and motivational speaker, is attributed with saying, the fortune is in the follow-up.

Another principle that is one of my favorites!

I can’t think of many phrases that ring any truer than this one. If you apply this principle diligently, it produces exponential returns. If done right (and you can with today’s technology), more revenue with much less effort!

I experienced the fortune is in the follow-up “ah ha” moment, when I was a Business Development Director for a national mortgage company in Atlanta Georgia.

I had regional responsibility to lead a refinance company into the purchase market by building a new 3^rd-party sales distribution channel made up of real estate brokers, team leaders, and agents.

With a 4-step relationship building process and a focus on the elite top 3% sales producers, we attracted 76 new partnerships in the first 6 months.

Most of these professionals had some form of lead generation system. Some segmented their databases into timeframe buckets into which these leads went. Most agents I worked with focused only on now money – bucket #1 with the folks who wanted to buy a home within 1 – 30 days.

Out of every 100 leads, 1 – 3 would be “now money” buyers. The obvious question was: What do you do with all the other 97 – 99 leads?

Some of these elite agents would send simple email drip campaign sequences to one or two of their lead buckets (prospects who said they wanted to buy within the next 60 – 90 days.

Most though exclaimed that they did nothing with the other leads. The leads just sat in their database. One agent had a database of 10,000 of these leads. How much money did he leave on the table?

Little to no follow-up strategies for the other buckets filled with potential buyers (and sellers) - 30 – 60 days, 60 – 90 days, 90 days – 6 months, 6 months – 12 months, and 12+ months.

We didn’t see obstacles, we envisioned opportunities!

Out of every 100 new leads, there were 97 - 99 new opportunities to build a trusted relationship, provide quality information, and be there when the time was right for the home purchase (and/or sale).

Our team of mortgage loan officers did just that. We put our attention on each agent’s database. Using strategic account management follow-up plans, quality content, and utilizing omni-marketing channels, we uncovered “acres of diamonds.” We put money in our real estate partners’ pockets.

How much? Over a period of 12 months, we added on average 2x – 3x more commission income to our partners’ top line, without them doing much at all.

I’d like to now share two marketing analysis frameworks that I follow. These illustrations I think drive home the principle we’re talking about today - the fortune is in the follow-up.

First, the Microsoft model shows the number of touches it takes to get a lead. This is an opportunity, not quite a customer. FYI – The first analysis I saw was from the Canadian Direct Marketing Association (CDMA).

What insights do you get from this visual?

I notice you have little to no competition. I also notice that your persistence and consistency will pay off.

This data analysis tells me that whether you lead a nonprofit or small business, being strategic and systematic in your communications and customer relations pays dividends. The fortune is in the follow-up!

The second framework comes from the late Chet Holmes. It is called a Demand Pyramid. It is intended for use by online advertisers. But I think it has broader implications and can provide insights for your marketing, sales, business development activities.

What do you see?

Only 3% of your market wants to buy now. I also see that you are missing 67 – 97% of the potential if you don’t install and execute a follow-up system with on-going communications and value.

I hope these two infographics woke you up to the opportunities, and to where your relationships are and how you can better serve them.

Let’s wrap up by sharing some bullet points on how through a sound follow-up system, you can transform your suspects and prospects into customers and clients.

Build Trust Through Consistency - Explore how consistent follow-up builds trust and positions you as a reliable and committed partner in your prospect’s journey.

Trust!! It's the cornerstone of any successful relationship. Trust is non-negotiable when it comes to turning your prospects into clients.

So, how do you build it? Consistency is key. When you know your target audience’s interests and motivations, you give value at every touchpoint, and you consistently follow up, you are different from all the rest. Most of them quit a long time ago.

You are reliable and committed. You are seen focused on short-term results and in it for the long haul. People begin to trust. They begin to believe in you, your mission, and in your ability to deliver results…for them.

Demonstrate Value at Every Turn - Discover strategies that deliver value and ensure your prospects see tangible benefits in continuing the conversation with you.

What motivated you the last time you made a purchase or donation to a cause? Most likely, it was the value you received or were going to get.

This same principle applies when you're trying to turn your prospects into clients or donors. With each follow-up, you have an opportunity to give value, to deepen a relationship, and to help a person along on their journey.

Share helpful resources. Offering free consultations. Check in often to see how they're doing. Your relationships will love you. They will come back for more!

Turn Initial Interest into Lasting Relationships - Learn how ongoing communication creates long-term, fruitful relationships and increases client retention and loyalty.

Do you ever love the chase to win a new client but the exhilaration wanes? And as you know, now the real work starts.

Client acquisition is extremely important. But so is client retention, which is more cost efficient. How can you retain your clients?

Build strong, meaningful relationships. Stay in touch. Listen. Be there for them. Prioritize relationship building through consistent follow-up and you'll create clients (or donors) for life.

Overcome Objections with Patience and Persuasion - Uncover techniques that address objections gracefully and persistently and turn potential roadblocks into opportunities.

Objections are part of the game. See these perceived obstacles as opportunities. You now know what your prospect is thinking and feeling. Address their concerns upfront and turn them into advantages.

Create solutions. Be open-minded. Listen effectively. Objections show interest. Prospects are really asking for more information. Consistent follow-up is your chance to make your case.

Stay Top of Mind in a Busy World - Explore tactics that maintain your visibility and ensure your brand is in your prospects' minds when they are ready to “pull the trigger.”

We live in a noisy world! It is difficult to break through the clutter and get someone’s complete attention. How can you break through the haze and stand out from the crowd?

Stay top of mind through consistent follow-up. This can be your secret weapon!

Put them in an automated drip campaign. Shoot them a friendly email message. Mail a personal note. Share a relevant article. Reach out by phone. Keep you and your brand visible.

Tailor Follow-Up Strategies for Maximum Impact - Understand how to customize your follow-up for each prospect and enhance the effectiveness of your communication.

One size does not fit all when it comes to follow-up. You must know each prospect, their wants, needs, interests, preferences, and behaviors. With this knowledge, you can go for maximum impact.

Use a database/CRM. Keep notes-to-file after every engagement. Segment, customize, and personalize all communications.

Prospects want to feel you are speaking directly to them. You must know them to share the relevant, valuable information they want and need. Show them you care. You are different!

Measure Success, Track and Optimize - Discover how to leverage data and analytics and continuously refine and improve your outreach strategy.

What gets measured, gets managed! How do you know your follow-up efforts are paying off?

What are your objectives? What are your data points? How do you track activities? What results are you getting? How can you optimize and improve? All good questions that data analysts ask.

Review your tech stack. Ensure you have the right technology, software, and tools in place. If you do, and your systems are integrated, you will have the answers in real time and be able to effectively track, measure, and optimize.

For example, with websites you can track almost everything including the Tactical Triangle – traffic, conversions, value. With quality email marketing software, you can view dashboards and data analytics. Delivered. Opened. Dropped. Unsubscribed. Marked as Spam. Bounced. Engagement. Most clicked links. Click-through-rate.

See what's working and what's not. Refine, test, refine and test, and so on. Do A/B testing. Tweak your messages and images. Send content on different days and at different times. Try other marketing channels. Experiment to improve, innovate, and disrupt.

The fortune is in the follow-up.

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