“The Fortune is in the Follow Up”

You have no doubt heard the phrase, “The Fortune’s In the Follow Up”.

It’s not just cliche. To be sure, the follow-up is the most important of all the business activities you can do in network marketing.

So how much time are you spending on this activity?

Think about this.  It is critical to your success.  Is it Ten hours a week? Five? Two? Or Less???

I’m not talking about the auto-response emails you have going out. I’m assuming you’ve taken that into account and have identified a set of qualified, targeted leads.

Don’t count on them calling you!

While you are having fun on your computer doing training, social networking, conversing in forums, or writing articles, ask yourself if you are just doing them to avoid the dreaded 500 lb phone.

This device is the only way you can truly follow up (ok, maybe yours really is only a couple of ounces if you think about it, or maybe it could be a Skype video call, even better!

If you think you might be, then stop and reconsider where your priorities should lie.

Because in the end, if you do not follow up with those people opting into your list, it doesn’t matter what marketing activities you do, or how many leads you get.

You’ll simply be leaving your fortune in residual income on the table if you do not consistently make the follow up your top priority.

So Why is the Follow Up So Important?

That is not to say that learning the skills for success isn’t important, because you’ll definitely want to know how to find and approach your leads and what to say to those people with whom you will follow-up.

But it’s not just that first or second call which will bring you your best results.

Statistics show that only 2% of sales or sign-ups ever occur on the first contact.

3% of sales or sign-ups occur on the 2nd contact

And only 5% of sales or sign-ups occur on the 3rd contact

But this jumps to 10% on the 4th contact

And here’s the kicker:

>>>> 80% of sales or sign-ups occur on the 5th to 12th contact!

Someone from a direct marketing business once told me that their the biggest hit happens on the 8th mail piece.  After that 8 mail piece, he saw a success rate of 80%, confirming this statistic.

But, if you are in network marketing, remember that it is a relationship business.

So although an auto-responders can take care of initial contacts, whereby on your first phone call they could even be signing up in your business, this means you must think about the quality of relationship you may be building via your auto-response emails.

So Pick up that Phone and Follow Up!

Do you find this a difficult decision to make?

One that is overshadowed by most other activities that you can think of instead?

If this is true then you may have a slight case of phone-o-phobia.

Is it just on that first call that worries you?  Well, think about this – if they opted into your list and gave their phone number, then they’ve given you their permission!

Breaking the ice is most often the most challenging part of the first follow up. But it might help to realize that when you get right down to it, they’re no different than you, even with different backgrounds we’re all cut from the same cloth.

Remember the FORM as an important set of comp0nents to the follow up – Ask them about their family, occupation, what they do for fun, and whether they might need to make some extra money.

For me, I like asking about whether they are running a business from home, and if so what their biggest challenge is. This usually gets them to open up.

Once you let them relax and start talking, listen!

When they realize that you care and are there to help, you have built trust and rapport.

But above all, remain in control of the conversation! You will not be perceived as a leader if you allow them to begin prospecting you or asking you a hundred questions.

Or do you have trouble with that second or third call? Leave them something to follow up with on each call.   If you have a training system then this is an excellent tool for building a relationship over time. Just keep pointing them to the next segment.

MyLeadSystemPro or BetterWebBuilder are excellent systems for lead generation and training that you might offer people who are struggling. By their nature they exist to facilitate follow up and relationship building.

When establishing a relationship with your prospects during the follow up process, you will want to ask questions that will establish:

1. A connection with them
2. What their background is, current employment, and home business activity
3. What they like to do for fun (and what they would do if money were not an issue in their lives)
4. What their problems are; time, money, personal issues, etc.
5. Whether they are already in a business for themselves and/or have a full/part time job
6. A Solution to their problems which can be provided by your service or opportunity
7. What their (money) ambitions are; short and long term
8. Consequences of doing nothing or something about it
9. What are their qualifications; are they coachable? Can they invest enough to be on autoship for products in a MLM business?

You should at least be covering the first 5 of these in your first contact. And remember the keys to successful prospecting while you work.

Remember that it is the quality of your relationships that will bring you the largest retention and therefore your biggest fortune. And all this is due to the fact that you took action to follow up enough times to actually build that relationship!