Networking with past clients is a powerful source of self-generated leads. Make this and other activities part of a monthly progress meeting with your team.
There are many elements that separate highly successful remodelers from moderately successful ones. To that end, one area worth examining is how to generate leads rather than just waiting for the phone to ring.
I want to address a mindset as well as the tactics since both are needed in order to see greater success. Let’s begin with the formula for success at self-generated leads.
A + B = R: Attitude + Behaviors = Results
Attitude is about the mindset and a desire to do the right thing. Attitude addresses success as a team sport.
Behavior is about healthy habits and daily routines. It means carving out enough time to do the things that you know will make a difference.
You can supersize your success by following a Self Generated Lead (SGL) team process. It will take time to develop the culture but once you do you will be able to control your lead flow moving forward.
1. Gather the data to show that SGLs have very high returns. (Cost per lead is low / close rate is high)
2. Bring the team together to share the data and discuss why they think this is important, too. This will provide a higher likelihood of buy-in and success.
3. Brainstorm a list of SGL activities. What behaviors result in potential SGLs? (Calls or visits with past clients, attending the right community events, hosting seminars, etc.) Try to create a list with as many of these as you can and hit a chord for everyone participating.
4. Place a value for each activity based on the time or importance of the idea. For example, a 20-minute call with a past client has a value of 1; a past client home visit is a 3; doing a seminar for a real-estate office is a 10. Review the list every six months and tweak if needed.
5. The next question is, “How many points can each team member commit to per month? Begin conservatively. A salesperson might say they will commit to 30 points a month and you might bring them down to 25.
Brainstorm a list of SGL activities with your team. What behaviors result in potential SGLs? Once that's determined, place a value on each activity.
6. Create accountability. Each team member needs to report their point-gaining activities on a weekly or biweekly basis. The reporting should be transparent so that everyone can be accountable to each other.
7. Make SGLs part of a monthly meeting. Report on team results and discuss lessons learned. Make it fun, but always remind your team why the topic is important.
8. You might see some results quickly, but you also might only see a trickle in the first few months. So be patient and believe that this is not only the right thing, but it also creates a good and healthy culture.
9. Incentivize. Doing basic activities should be part of an individual’s responsibility to the business. However, providing cash incentives for results will also help to maintain momentum.
10. For most ideas, having a champion can make the difference between success and failure. Assign one person to this role, ideally someone who really cares or is naturally inclined to do this process.
Generally, businesses that are the most successful have a predictable lead flow. These companies don’t just wait for it to happen; they make it happen.