The Curse of Too Many Leads
Once upon a time there was an agent who was a geek at heart.
She used her geek super power create marketing funnels that generated hundreds of leads every month. It was so bad that even when she shut everything off, she still had leads coming in every month.
Dang it, google organic traffic!
By default, she ended up hiring agents to work the leads, but no matter how many she hired, there were more leads than the agents could handle.
Although it was great fuel for growing the business, it had its downsides too…
There are 3 symptoms of the Curse of Too Many Leads:
1) Lead Hoarding
- This is where agents just keep working every new lead they can get their hands on, even when they already have a full plate. I'm talking they have 500+ leads. They feel good when they get a new lead assigned to them so they keep grabbing it while dropping the ball on others. Not cool.
2) Shallow Not Deep
- When agents hoard leads, they end up going shallow, not deep, with them. They call them once or twice then don't go further. The truth is, on average, the sale happens on the 7th to 12th contact. By the 5th contact, 90% of the agents have already fallen off the map and become part of that tragic statistic.
3) Hypo-Referralism
- The word "hypo" in medicine means too little. So when you put "hypo" and referrals together it means too little referrals. Yes, it's a Christine original word. Here's the point. When you have hundreds of new leads coming in every month, it can be easy to neglect your sphere and the repeat referral business that is sitting in your database because you don't feel the "need" to do it. I see this all the time with teams that have an overabundance of leads.
Don't get me wrong: having leads is great, but it doesn't solve everything.
It's a lot like food. When you're starving, all you can think about is food and it can seem like "if only" you had food, it would solve everything.
However, once you get past starvation mode, if you have too much food, you can eat too much, get morbidly obese, high cholesterol, and serious health issues.
The solution to one problem usually leads to the next problem. That's perfectly normal.
However, if you know what's ahead, you can prepare for it, work smarter, and cut the learning curve in half or less.
Yes, leads are important. They fuel your business. But if you pour water into a bucket full of holes, what happens?
It doesn't matter how much water you pour in, you're losing most of it anyways. If your business is full of holes in your system for converting leads, buying more leads isn't the answer.
What got me through the "Curse of Too Many Leads" are powerful systems.
It was systems that made sure every lead was communicated with.
It was systems that set off red flags when leads were neglected.
It was systems that kept the leads coming back.
It was systems that got me a $6 Million sale, the largest in my market for the year, without me having to lift a finger until they were ready to move.
I heart systems.
Systems = freedom.
How are your systems?
She used her geek super power create marketing funnels that generated hundreds of leads every month. It was so bad that even when she shut everything off, she still had leads coming in every month.
Dang it, google organic traffic!
By default, she ended up hiring agents to work the leads, but no matter how many she hired, there were more leads than the agents could handle.
Although it was great fuel for growing the business, it had its downsides too…
There are 3 symptoms of the Curse of Too Many Leads:
1) Lead Hoarding
- This is where agents just keep working every new lead they can get their hands on, even when they already have a full plate. I'm talking they have 500+ leads. They feel good when they get a new lead assigned to them so they keep grabbing it while dropping the ball on others. Not cool.
2) Shallow Not Deep
- When agents hoard leads, they end up going shallow, not deep, with them. They call them once or twice then don't go further. The truth is, on average, the sale happens on the 7th to 12th contact. By the 5th contact, 90% of the agents have already fallen off the map and become part of that tragic statistic.
3) Hypo-Referralism
- The word "hypo" in medicine means too little. So when you put "hypo" and referrals together it means too little referrals. Yes, it's a Christine original word. Here's the point. When you have hundreds of new leads coming in every month, it can be easy to neglect your sphere and the repeat referral business that is sitting in your database because you don't feel the "need" to do it. I see this all the time with teams that have an overabundance of leads.
Don't get me wrong: having leads is great, but it doesn't solve everything.
It's a lot like food. When you're starving, all you can think about is food and it can seem like "if only" you had food, it would solve everything.
However, once you get past starvation mode, if you have too much food, you can eat too much, get morbidly obese, high cholesterol, and serious health issues.
The solution to one problem usually leads to the next problem. That's perfectly normal.
However, if you know what's ahead, you can prepare for it, work smarter, and cut the learning curve in half or less.
Yes, leads are important. They fuel your business. But if you pour water into a bucket full of holes, what happens?
It doesn't matter how much water you pour in, you're losing most of it anyways. If your business is full of holes in your system for converting leads, buying more leads isn't the answer.
What got me through the "Curse of Too Many Leads" are powerful systems.
It was systems that made sure every lead was communicated with.
It was systems that set off red flags when leads were neglected.
It was systems that kept the leads coming back.
It was systems that got me a $6 Million sale, the largest in my market for the year, without me having to lift a finger until they were ready to move.
I heart systems.
Systems = freedom.
How are your systems?
If you have any questions about this topic, setup a free strategy call with one of our experts here.
