Ahead of the Competition: Making the Most of Social Media Leads and Networks

By Christie Slaton Zgourides

Joining Social Media Lead Force already sets your business apart. While many other businesses continue to rely on word-of-mouth, in-person networking, or other forms of online marketing, SMLF members understand that homeowners and other potential customers are turning to social media first when they need a job done. Being part of a social media lead group not only puts your company first in line to meet customers where they are, but membership also connects you to like-minded businesses who will be working with the same customers.

How can busy entrepreneurs and business owners make the most out of membership in a social media leads group?

Speed-To-Lead: A Fast Response Is The Competitive Edge

Responsiveness is always critical in business, but even more so with social media leads. The majority of leads come from homeowners with an urgent problem or a deadline-specific project. They are not casually browsing for inspiration or to amuse themselves. When they post their need or request to social media, they have already made the decision to hire someone – it’s only a matter of who they choose. Having your business presence where they are looking means you get the lead and can respond before competitors know there’s an opportunity.

But that advantage will only work for you if you have a system for rapid response. A study conducted by MIT and Inside Sales found that businesses responding in 5 minutes are 21 times more likely to win the job than those who delay 30 minutes.

The takeaway: When you get a lead, respond immediately. Treating social media leads as an urgent call is the number one factor in turning leads into jobs. Answer the phone. Return the text. Be available. Do not delay. 

Effective management of social media leads requires businesses to have a clear, specific strategy for this type of rapid response. Specific strategies will depend upon business structure and needs, but at a minimum, business owners need to consider how they or a staff member will be available to respond. If the owner or lead manager is also working on jobs, as is often the case with small trade businesses, then they need to have a plan for handlingn leads.

Make A Strong First Impression: Your Company Will Be Judged

While making that rapid first contact can put you first in line, how you present yourself and your company will still matter as much as being first. Invoca reports that 75% of customers will judge a company’s credibility during the first phone call or interaction, such as by text, and 76% will not do repeat business after a single poor experience. Making a strong first impression includes a wide range of strategies.

Answer The Call Confidently  

·      When making or receiving a call, always identify yourself and your company clearly: “Hi, this is Manuel with Regional Landscaping. Thanks for reaching out.”

·      Avoid answering calls with “Hello?” as it sounds unprofessional and rushed.

·      If you miss a call, return the call within the hour and apologize for the delay.

Be Warm And Build On Trust

·      Social media referrals automatically confer trust, especially as the customer already knows you are recommended.

·      Be approachable, let them know you saw the referral on NextDoor or Facebook, thank them for reaching out, and let them know that you have helped many in their community with the same or similar issues.

·      This approach establishes you as a local, known, and trusted presence.

Demonstrate Reliability And Clear Communication

·      Give clear, prompt estimates

·      Confirm appointments by text or email

·      Show up to the job on time

·      Remember that trades in particular win more jobs through reliability and responsiveness than by offering the cheapest prices

The bottom line: the most powerful sales strategy is a solid first impression. Customers care more about who answers their call, who shows up for them, who is trustworthy, and who follows through than they do about a slick sales pitch or catchy ad.  

Track Leads To Double Their Value

Let’s say you have a rapid response to leads, make the best impression, and follow up with the highest quality products and service. Great start! If that’s all you do, then you will have lost the greatest potential of your leads. How do you double their value? Track them! What’s the value in tracking leads? According to HubSpot research, businesses that track leads and results manage 2.8 times faster revenue growth. It’s not enough to think or assume you know where your best leads come from or what leads are most profitable.

How To Make Tracking Work

·      Use a notebook or spreadsheet to log the date, job type, source (NextDoor or Facebook), perhaps local region or neighborhood, value/profit, and other outcomes relevant to your trade.

·      Look for patterns, such as which job types, sources, or neighborhoods are more likely to convert to sales, which jobs are more profitable.

·      Be objective: the data may support your assumptions, but it is equally likely to expose patterns you miss when you are busy with the job.

Most important: when you see patterns, be sure to report those back to Social Media Lead Force! Knowing your ROI and reporting it back helps the virtual assistants be more strategic in the leads they refer and the leads that you accept. Over time, you will become more effective and efficient at selecting the highest quality, best-fit leads for your company.

Build Loyalty, Not Merely One-Off Jobs

Regardless of lead source, the goal in business is to build a business of repeat customers and not always be chasing one-off jobs. Most entrepreneurs and business owners know that it is easier and cheaper to keep customers than to find them. What may not be as evident is that, according to recent studies from Bain & Co., repeat customers spend up to 67% more than new customers. All that trust you’ve worked to build up not only means customers will spend again, but that they will spend more with subsequent jobs.

If that is not enough motivation, here are some more numbers to show how much customer loyalty pays:

·      Acquiring a new customer costs 5-7 times as much as keeping an existing customer (Invesp)

·      A 5% increase in customer retention translates to 25-95% profit increase (Harvard Business Review)

·      80% of future profits will come from about 20% of existing customers (Gartner).

·      60% of satisfied, loyal customers will refer friends and family to their favorite businesses.

Here are a few loyalty-building strategies:

·      Gratitude! Thank the homeowner or fellow business owner personally for their business with a handwritten note or quick text to make yourself memorable.

·      Leave branded items such as magnetic business cards, stickers, or other items to keep your company top of mind.

·      Keep in touch with seasonal reminders, particularly for regular maintenance, to create a proactive, not merely reactive, customer relationship.

·      Offer loyalty perks, such as discounts, bonuses for referrals, or priority scheduling.

·      Ask for recommendations on NextDoor or Facebook, particularly in the group or neighborhood where the lead originated.

No matter what the job, how large or how small, never view it as once-and-done. Continue to follow up because you are not merely processing a transaction, but are cementing the foundation for a long-term customer relationship. 

Leverage The Member Network

As a member of SMLF, you are also a lead generator! When you are on a job and notice an issue beyond your expertise, refer the homeowner to the professional who you know will solve the problem for them – perhaps a problem they didn’t know they had. You help a homeowner, help a fellow business owner, and look more professional in the process. This also builds more trust.

Of course, the more you refer to others in the group, the more likely they are to refer back to you. You can further this role by being active and present in the group. Share your tips and strategies, celebrate wins within the group, and remain engaged.

Social Media Lead Force will start with the leads, but with attentive, solid management of those leads through rapid response, effective follow-up, close lead tracking, building loyalty, and active referrals, your membership will become a community of trusted business professionals.