As a successful entrepreneur, I often have people approach me for help solving the mystery of why they didn’t win a potential client’s business. My first question to them is, “Did you follow up?” More often than not, they answer that they “forgot” or “didn’t think it was important.” Put yourself in the client’s shoes. Would you feel significant if you had a meeting with someone and never heard from them again? Probably not. Following up is just as important as the meeting itself. Whether it’s a personalized e-mail or phone call, following up has many benefits and is crucial to closing a business deal and building lasting relationships. Here are a few of the (many) benefits below:
- Shows You Are Still Interested – If you went on a date with a woman and had a great time, would you assume she knows you want to see her again? The same situation applies when dealing with a potential client. After a meeting where you learned a lot about their company, they may not be sure how you feel. Following up shows you are still interested and are ready to take the next step.
- Makes Them Feel Valued – Following up is also a great way to show potential clients that you value their work and time. Most likely, you just had a 1-2 hour meeting where issues were uncovered and details were discussed. Showing them that you see potential in their business and want to help them achieve success will demonstrate that you value their company and hold them in high regard.
- Sets You Apart – If you think the potential client isn’t meeting with your competitors, you are dead wrong. Wouldn’t you keep your options open before spending thousands of dollars? Following up will differentiate you from the competition. Many businessmen don’t make this a priority and allow the small task to fall through the cracks. On the other hand, if your competition is following up, aren’t you glad you did, too?
- Reveals You Are Serious And Reliable – Following up reminds potential clients that you are serious about business and that they can rely on you. By sending a follow up, you will prove that you take their time and work very sincerely and want to get the ball rolling as soon as possible. Following up also shows them that they can rely on you to take initiative if they choose to move forward with you.
- Puts the ball in their court – Lastly, sending a follow up puts the ball in the potential client’s court. You’ve done a stellar job at pitching your business and finished up by thanking them for their time and extending the offer. Since you’ve done your part, the next step is up to them. Now, relax and wait for them to make a decision. You’ve got this!
At Far West Capital, we believe that successful communication builds lasting relationships. What are some benefits you have experienced when following up? Let us know below.