Online data suggests that after the initial sales meet, around 80% of leads need at least 5 follow ups. However, around 44% of sales personnel follow up only once. On the other hand, those bombarding prospects with daily reminders are most likely to lose the deal.
Following up is an art that requires striking the right balance.
Cafemutual spoke to a few distributors for compiling some practical tips that can help MFDs follow up with their prospects professionally.
Decide at least one actionable in the first meeting itself
Having an actionable makes it easier to connect after the first meet. It sets the tone for subsequent interactions and makes them more meaningful.
Jai Shaw of Midas Capital, Howrah fixes the appointment for the next meeting in the first meet itself. He believes that pre-fixing meetings can help MFDs and advisors increase scope for further engagement.
Encourage prospects to initiate new interactions
Write a thank-you note on the first day of the meeting itself. Also, share with them the minutes along with the points of action. This hints at your professionalism and inclination to transact.
Nikhil Gupta of Sage Advisory, Mumbai also shares with his clients brief details of other offerings to introduce the scope to cross-sell and indulge in newer discussions.
Agra MFD Nikhil Khandelwal ensures that he ask a lot of questions from clients to understand their likes, dislikes, needs and aspiration. “This helps me begin the follow up call or meeting on a personal note.”
Don’t hesitate to engage virtually
Virtual networking is gaining a new type of traction. You can engage with prospective clients personally. Choose the right platform and keep your profile updated with solid testimonials that can be an effective way of winning prospects’ confidence.
Jai continues to engage with his prospects through WhatsApp by keeping them posted about topical financial events. He also makes a mention of his business achievements and appends testimonials of his existing clients.
Time your follow ups wisely
Following up at the right time can help seal the deal. Nikhil Khandelwal uses different mediums like messages/calls/e-mails over 15 days from the first meet. In his view, scheduling follow up calls on holidays allow prospects more time to actively participate.
Nikhil Gupta added that during weekdays, prospects could be contacted in the second half of the day as they typically feel more settled and comfortable by then.
