The Art of the Follow-Up
At MarketTime we believe salespeople are crucial to the wholesale industry and great salespeople know the value of following up. Following up is an important part of the B2B sales process because it allows salespeople to stay in touch with potential and current clients and is key to building strong relationships. When salespeople follow up with leads and clients they provide them with valuable information about new products, current and future product availability, and address any concerns they may have.
MarketTime hosted a webinar about the art of follow-up, focusing on how B2B sales professionals follow up with new leads. We conducted surveys during the presentation, and MarketTime obtained some interesting insights. As we prepare for another upcoming wholesale show season, we invite you to learn more about some of the takeaways gathered from Salespeople, Sales Agency Admins, Sales Managers, and Suppliers that attended the webinar and utilize these tools as your follow-up post-shows.
What is the top source of leads for new customers?
77 responses were reported:
- Inbound Inquiries: 25%
- Trade Shows: 31%
- Prospecting: 22%
- From Brands/Lines: 17%
- Social Media: 5%
The relatively even split between answers shows how salespeople use diverse tactics to source their leads.
Not considering the new clients your Salespeople bring you, what is the top source of leads for you for new customers?
50 responses revealed the following spread:
- Inbound Inquiries: 24%
- Trade Shows: 52%
- Prospecting: 12%
- Social Media: 0%
- Third-Party Platforms: 12%
This question for sales managers and brands sees trade shows as the big winner. Salespeople are generally the top source for leads with other brands that use salespeople, so it's interesting to see answers with this option excluded.
When you receive a business card from a Retailer, what do you do with it?
87 responses reported the following spread:
- Scan it into a spreadsheet: 8%
- Manually enter info: 49%
- Put it in the "To Contact" pile on my desk: 23%
- Put it in a stack to rediscover later: 17%
- Discover in my bag or clothing randomly later: 2%
Programs and apps will read information from a business card and save it in a spreadsheet. Only 8% of respondents use this technology, which shows that people either need to be made aware of these tools or are reluctant to adopt them.
I am most likely to follow up on a show lead…
82 respondents revealed the following show lead follow-up strategies:
- Via Social Media: 0%
- By Email: 54%
- By Phone: 23%
- By stepping into their store: 18%
- By sending a catalog or samples in the mail: 5%
When salespeople receive a business card at a trade show, most will email the contact to follow up; however, this can backfire, as every contact who received a card will send an email, leading to the connection becoming overwhelmed and ignoring further emails.
Before I pass the lead on to my Territory Salesperson, I am most likely to follow up on a show lead…
27 respondents answered this prompt, revealing the following spread:
- Via Social Media: 0%
- By Email: 67%
- By Phone: 15%
- By Sending a Catalog or Samples in the Mail: 19%
This question for sales managers shows that many hesitate to bypass salespeople by sending a catalog or samples. Providing a potential customer with a physical object is persuasive, so mailing something to establish contact gives a salesperson more time to follow up.
How often do you run any sales report (Product, Customer, etc.)?
97 respondents reported:
- Every day: 26%
- Two or three times per week: 24%
- Once per week: 24%
- Once per month: 27%
- What's a sales report? 0%
With so much information inundating salespeople and sales managers, running frequent reports is essential to understand everything happening.
Do you share these sales reports with your colleagues (Sales Managers, Salespeople, etc.)?
76 respondents answered:
- Yes: 79%
- No: 21%
Sharing reports is the best way to develop new projects and generate new ideas. When everyone has the same information, they can create new strategies and improve upon existing ones.
What is most important for your Brands to provide?
76 responses reported the following:
- Samples: 3%
- Catalogs: 38%
- Specials/Promotions: 28%
- Active Inventory Levels/QOH: 30%
- New Leads: 1%
These top three responses are essential for brands/manufacturers/suppliers to consider, and MarketTime can help implement the technical resources to get this data to your salespeople.
Other than more sales, what is the most important thing for your salespeople to provide you with right now?
40 respondents said:
- Feedback from Customers: 70%
- Requests from Customers: 8%
- Time to work with you on Territories/Sales Strategy: 20%
- A new puppy! (No, you can't choose this): 3%
This question for sales managers shows an overwhelming preference for receiving information from retailers.
What is the biggest challenge you are facing right now?
79 respondents answered:
- High Manufacturer Inventory: 0%
- Low Manufacturer Inventory: 19%
- Slower orders due to overstocked Retailers: 34%
- Slower orders due to inflation/recession concerns: 41%
- Everything is perfect! 6%
The biggest challenge sales managers face right now is slower sales, followed by manufacturers lacking inventory. As a result, salespeople need to be more strategic in their approach to retail buyers and suppliers.
Finding the Right Strategies for Follow-Up
As critical as ever, following up on leads and activating existing customers is paramount to success. Part science and part art form, there are many paths to success for salespeople, sales managers, and sales agencies.
Reports in MarketTime and mtPlay can build your sales strategy and help you master the art of follow-up. Contact MarketTime today to schedule a demo and take your business to the next level.