The keystone holds the arch up. Without it, the entire structure is compromised. With it, you can build the production team of your dreams. Running a successful business is an art and science: the science is discovering the right thing, and the art is making a habit of doing it every day.
Charles Duhigg said that “there’s nothing you can’t do if you get the habits right.” Establishing one habit creates a trickle down effect. It creates systematic improvement in your entire business. What if I told you there’s one habit that when turned into a business discipline will double your business in the next 12 months? The No Lead Left Behind habit can do exactly that.
The Keystone Habit: No Lead Left Behind
It’s simple. Track and follow up on every single lead.
No lead left behind is part of our 7 Commandments of Digitization. Our accompanying Digital Assessment gauges the strength of your current lead practice. Two of the most important questions in the Digital Assessment are the following:
- Is your team working 100 leads that are > 6 months old?
- Can you tell me your exact conversion rate and source on the leads you received four months ago?
If all you’re doing is chasing new clients to put in the front of the funnel, you don’t have a business, you are just a salesperson. The No Lead Left Behind habit creates a trickle down benefit that amplifies its value. These benefits are:
1. You Are Forced To Track And Prioritize
When you force yourself to disposition every lead you need to have a system. The act of assessing each leads importance is powerful. (And no, I’m not talking about a CRM). I know many 1 mil w2 originators using Google Sheets for this! The decision to leave no lead behind forces you to be an exceptional data manager.
2. Your Conversion Rate Goes Up
This one is pretty simple. Many top producers I deal with are so busy picking low hanging fruit, they miss the nurture opportunities. In one office, we dialed back through leads 5 months old and generated 4 loan purchase appointments in ONE DAY. This has since been duplicated multiple times.
3. You Build a Future Pipeline
The No Lead Left Behind habit forces you to quantify each lead and gives you the tools to meaningfully reconnect. A Realtor blew my mind the other day. She called and said, “Hi, we haven’t talked in a bit, but I notice your youngest just started Kindergarten and rates are at an all time low. They are going to be in sports soon enough, you may want to buy that Tahoe house before you have to deal with football and volleyball every weekend.” I am a lead that is 1.5 yrs old and I have referred several people to her since this call.
This is especially powerful if you are engaging early in the buy cycle by acquiring leads from one of the portals. If you are generating 100 leads per month, at least 15 of them represent long term follow up opportunities. After a year, that is a list of over 100 active buyers.
4. You Have A Real Value Proposition
Why would I use you? We published an E-Book on this topic because we think it is pretty important. Your No Lead Left Behind habit is something you can sell to Realtor partners. They like it because they have a partner to help them maximize value. You can track and convert so they don’t have to. That means you can access more leads, sooner. You can help with sign calls and Zillow partnerships. And, you can do it with confidence knowing you will create business.
Do you know who has a “no lead left behind” policy? Quicken Loans. But, time has proven that clients love to work locally. Lets face it, mortgage loans are a big deal. So, make the one decision that will double your business. Leave no lead behind.
Download the Digitized MLO assessment to see how your business stacks up!