Understanding The Thin Line Between Lead Follow-up and Quote Follow-Up

/
Home » Business and Entrepreneurship » Understanding The Thin Line Between Lead Follow-up and Quote Follow-Up

Lead and quote follow up are two of the most important ways to maximize the conversion rates of any business. However, these two aren’t the same thing, except, of course, the follow up part, which comes from the company’s end. Needless to say, this practice is something all successful businesses in the 21st-century handle with the help of software. Manually following up can be extremely difficult and just as inefficient. Moreover, it takes away time that can be spent elsewhere on more complex tasks. So then, how are the two different? Well, the distinction is just as simple as the name suggests. 

Lead Follow Up

In marketing terms, a lead is a customer who shows interest in your business. Naturally, when you identify such behavior in a potential client, you need to take action to reel them within your sales cycle. Thus, to make sure that your leads are appropriately tended to for the purpose of conversion, business personnel send them follow-up emails or other forms of reminders to rekindle the interest they previously showed. You can do this through a preset follow up system that is automated and doesn’t require much human intervention. Also, bear in mind that leads can be generated through various ways, including emails, referrals, social media, and more. 

Quote Follow Up

So, you own a business, and you’ve enabled the option for clients to request a quote through your website. This allows a prospect to review the price of your products so it can assist them in the decision-making process. However, not every customer takes immediate action after requesting a sales quote, and that’s where the follow-up comes in. You must refresh their memory and convince them that the quote they requested earlier offers a justifiable price. That said, those who choose to seek a quotation are one form of prospects that you must absolutely chase in order to maximize conversion. Like lead follow-up, this can also be done manually or the other way around. The other way around is more time savvy and effective which is why there has been an undeniable surge in the popularity of CRM and ERP software. 

Following up in Osmos: How it all works

When you rely on Osmos to take over your follow-up responsibilities, you can easily automate customer interaction to a large extent and reserve your energies for other tasks. Instead of tracking leads yourself, Osmos takes care of everything on its own. Leads and thus, quote-seekers are identified according to a preset criterion which forms the basis of Osmos’s algorithm. This is how the follow-up sequence kicks in, whereby your prospects are sent a consistent series of emails over time. The best part is that Osmos enables multi-channel to follow up capabilities through an array of different tools and integrations. Ultimately paving the way for a very high conversion rate that handles all parts of sales cycle management seamlessly. 

The Verdict

No one can deny the importance of both lead and quote follow up for the success of a business. If you overlook any of these aspects, you might end up incurring a massive loss. When leads are maturing, it is essential to follow up with them. And when leads are on the verge of converting, a follow up from you can speed up the closing process.

Osmos Cloud

osmoscloud.com

Interested in learning more?​

Subscribe to get our latest resources sent directly to your inbox and gain early access to our webinars!​