Salespeople are full of catchy phrases.
And today, I've got a new one for you. Meditate on it like a mantra, and I promise it will keep you and your business alive, even while others wash out.
Here it goes: FOLLOW UP OR D.I.E.
Sounds a little dramatic, I know. But stick with me.
I'm being a little cheeky here. Your follow up game, no matter how lame, will not kill you. But lazy follow up can cause your new venture to wither away quickly.
"The fortune is in the followup"
Here's one of those salesperson's cliches I was talking about. But it's true. Did you know that salespeople almost never close the deal on the first sales call? In fact, statistics on performance of sales teams nationwide shows that reps tend to make the sale somewhere between 7th and 10th touch on average. <== READ THAT AGAIN.
We see the same thing in the real estate space. Wholesalers and other real estate investors specifically report that it's currently taking 8 to 12 touches to get a deal.
But here's the scarier thing that the studies show. Most salespeople never even give themselves a real shot at closing the deal. That's because they give up before ever making contact! 😩
A Harvard study that tracked a set of sales teams as they worked 15,000 unique leads found the following:
- Nearly 70% of salespeople never make a second call
- Salespeople who made six attempts or more had a 90% chance of reaching their prospect.
Click HERE to download the one page summary of that Harvard report.
This brings us to my new sales mantra for all the salespeople, real estate investors and wholesalers reading this. "Follow up or D.I.E."
When you don't follow up, you don't get the deal. Period. So what do you do? You do what every sales person does. You blame the leads! LOL And when deals don't start closing, I can almost guarantee you will become DISCOURAGED. That's the "D".
This can be the kiss of death, especially for a new wholesaler. This business is already hard; and getting your mindset and belief where they need to be can be the toughest part of all.
So when you get discouraged and your belief starts to sink, it can kick off a vicious cycle, that leads you to become "INACTIVE". That's the "I".
Once your activity level falls and you lose the discipline of marketing consistently, you're now entering dangerous waters. You're not dropping RVM's... You're not sending the mailers...No bandit signs are getting put out.
As a consequence, your phone's not ringing. No appointments are happening. And any momentum you had evaporates. At this point, your mind will begin to interpret this as "confirmation" that this business doesn't work--that it's not for you.
Sadly, this step proves to be the death blow to many real estate investors. With their mindset shattered, and inactivity starving their deal flow, they ultimately "EXIT" the business altogether. That's the E.
We don't want you to D.I.E.
And we've worked really hard to make follow up inside REIRail as easy as possible. Our rehash feature literally lets you make follow up contacts and drop a second or third ringless voicemail to a list with the push of a button.
Just record an appropriate follow up message (takes 30 seconds) and click a button. That's it. And you can keep your list alive. Sadly, the rehash button is the least used feature in our platform!
Which is crazy because every time you 'one and done' an RVM campaign, you are literally throwing money out the window...
If you attended our Mastermind with the Polites then you know the secret to their success is that they follow up like crazy. They rehash some of theirs lists 10 TIMES!
Don't be a statistic. Be a closer. Coffee is for closers. Always be closing. Because sales is a contact sport. And the fortune is indeed in the follow up.
See what I did there? 😉