Don’t spend another penny on marketing and advertising until you do this one thing. Todd Friedman here co-creator of the Lead Engage System. Today, I want to share an analogy that I heard not too long ago.
Now this example, this analogy speaks really More to the retail automotive industry. But the truth is, it could be applied to many different types of businesses that rely on leads to close sales.
Now, imagine the business is like an amusement park and you have a roller coaster. And all of a sudden the roller coaster manager runs up to the owner of the amusement park and says “Boss, we have a little problem on our hands. During turn three, about a third of the people got thrown off the roller coaster.” Boss thinks about it for a minute and says to the roller coaster manager. “Well, how many more tickets do we have to sell to fill up those seats”
And this is a major issue that I see not only in retail automotive but in many different businesses that rely on leads to close sales. And a lot of what it comes down to is the fact that they’re so focused on results that they never take the time to focus on the process
In other words, so many businesses are just quick to try and get a lead in the door to try and close a sale. They are trying to close on service that they never take the time to truly learn how to engage with the prospect. Get on their page, get on their agenda, figure out what their issues are, figure out what challenges they’re facing and really figure out what is the best way that they can help them make the right decision.
That decision and that information needs to be handled before the prospect is even ready to come into the business to make a purchase, your team needs to have a process in place to be able to effectively engage a prospect, but also needs to have a process in place from handling and managing each lead that comes in because not all leads are the same.
“Lead A” may need to be followed up with for three months before they’re ready to make a purchasing decision. “Lead B”, might be ready to come in sometime next week and “Lead C” might just be starting their journey and they’re looking for a natural person to provide them with some better information than what they’re finding online and may just prefer speaking with someone instead of doing the research themselves.
So, if you could put a process in place that will allow you to handle and manage every lead the way they’re supposed to be handled, you will be able to stretch your ad budget out much, much further.