When it comes to talking start-ups and growing your business, especially in the digital age, an important topic that often makes its way into the conversation is lead generation. On The Jeff Bullas Show, I’ve interviewed dozens of experienced innovators on the subject, including Boris Pfeiffer Riddle.
More recently, I wanted to find out if it’s possible to keep up with the amount of leads generated by social media. Will there always be some degree of lead-loss?
Steve MacDonald is the CEO and founder of LeadKlozer, a Facebook growth suite designed for digital agencies and Facebook marketers. He believes new software is the answer to capturing more leads on platforms like Facebook.
Steve has almost 30 years of branding and marketing experience and has spent the last decade training more than 10,000 entrepreneurs on how to use social media to grow their businesses. He’s served as the founder of a global social media university, CMO of a Hollywood start-up, Director of Client Services for a top ten digital marketing agency, and Director of Strategic Planning for Mazda Motors. To top it off, he was trained in branding by the former CMO of McDonald’s.
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Reducing lead-loss by understanding social media metrics
Preventing lead-loss starts by understanding your metrics. Tracking “engagements” is one of the most popular KPIs for a brand on social media. For example, these actions could include a like, comment, or share. However, many argue that sales are a better metric to track the performance of a social media strategy.
Even in the digital world it’s hard to identify how overall engagements increase through social media. People follow you, they check you out, but how do you attribute that or utilize that for your brand?
When people follow an account on social media, they leave footprints: likes, smiley faces, comments, messages, and more. These are all important indicators that they’re engaged with who you are as a brand.
The problem then becomes tracking this engagement.
Once you start seeing engagement, it becomes impossible to keep track of it all, which in turn causes lead-loss. You begin missing opportunities just because you can’t manage the activity of users who interact with your brand.
Steve turned this pain point into a business. He saw an opportunity. His team spent months searching for a tool that could track individual engagements. It turned out, nobody did it. This was the spark that led to LeadKlozer.
Closing more sales on social media
If you talk to any highly successful salesperson, they’re going to tell you the best opportunity to engage with a prospect is right after they’ve reached out and made first contact with you. That’s when your business is at the front of their mind.
In essence, this means you want to know when the top 10% of your fans are engaging with your content. Who are your super fans and how are they reacting to your most recent post? Is it possible to communicate with them?
LeadKlozer invented a system to prevent lead-loss by giving businesses a direct line to chat with fans who are boosting your engagement. It allows you to create a conversation that could potentially close a lead, hence the name of the company.
If you’re not taking every opportunity to capitalize on that conversation and close that business, then you’re missing opportunities that you used resources to create.
Facebook wasn’t designed as a followup tool, it was designed as a social network, and as much as they cater to businesses with the ad platform, they still haven’t designed it as a followup tool.
70% of leads are never followed up with, and that’s happening at an even greater rate on Facebook because you simply can’t keep track of it all. You can’t manage it manually.
Leads are the lifeblood of any business.
What are the most important types of engagements on social media?
Without giving away the secret to their success, Steve and his team have ranked the sources of engagement, giving a different priority to each type of engagement. They use a sophisticated algorithm, but it can be explained fairly simply. Before the ranking, it’s important to understand:
- All of these things are relevant to how recent the engagement was. A phone call today is obviously more important than a phone call from a month ago. The passage of time is not favorable to leads. Part of the algorithm’s job is to score the priorities using points. As time passes, it decreases the priority points.
- Manual programs in the LeadKlozer system allow you to make sure no leads are bypassed by the automated system. This system ranks leads using colors: blue for cold, green for neutral, and you can manually put them to orange for warm and red for hot. Every time you change that status, you’re telling LeadKlozer something really important.
- Facebook is still king. There’s no one solution, and there’s a lot of diversity in how to use it, but when it comes to gathering and connecting with leads, Facebook cannot be beaten.
With these principles laid out, here are the ranked engagement avenues:
- Reactions/Live streaming
Obviously, it‘s vital to be able to put this information together, to notice when the same lead continues to pop-up. In LeadKlozer, you can literally put together a list of everybody registered for a webinar in priority of their smart score, or how engaged they are with you. This let’s you know who to follow up with.
This ability gives a whole new dimension to sales and following up with leads, because you’re not just guessing who you should be following up with. We all have limited time, and of course everyone would like to scale their business and have lots of people and salespeople that could help out, but for the majority of us, there’s simply too much to do and too few resources.
If we don’t use our time in a smart way, if we’re not following up with the right people, we’re going to tread water, waste time, and no business can afford to do that.
Facebook myths that result in lead-loss
Steve says there are three common Facebook marketing myths that all social media marketers need to understand:
1. Missed comments are unavoidable
Facebook makes it so hard to follow up on comments, so we miss them. The bottom line is that it’s too hard to keep track of all your comments. Comments are the number one way that people reach out and create a direct conversation with you. Luckily, LeadKlozer has designed its software to make sure you are able to access missed comments and follow-up without an hour of searching and navigating.
2. There’s no way to know who your most important fans are
Who should I reply to? Who should I spend the most time with? The number one way to increase revenue is to cross-sell and upsell existing customers, which means you’re going to comment extremely differently with someone you’re familiar with, rather than somebody who is brand new. Normally, because we don’t have any of that information or context, we can’t do that. We can’t make those changes in communication, which means we lose a highly successful sales process.
But with LeadKlozer, that changes. It’s only a myth because there was no tool to help you do it previously.
3. You can’t reply or respond to likes or reactions
On average, posts get 10 times as many reactions as comments. We don’t think about the reactions or replying to them because Facebook gives us no way to do that.
However, if we combine the fact that we know the “reactors” ranking, we know who’s important, and we know if we have had a one-on-one conversation with them because of LeadKlozer’s technology, we can engage with them.
Who should use LeadKlozer to help combat lead-loss?
Any type of business that sees success engaging with their audience on Facebook should consider using LeadKlozer.
If you’ve got engagements, then you’re creating leads, and if you’re creating leads, you have the opportunity to create engagement priorities and new ways to identify and follow up with leads.
In the end, it’s more about who is using Facebook to generate leads for their business. If you’re doing that, you’re getting engagement. If you’re getting engagement, you’re missing opportunities because you can’t keep track of them.
The future of LeadKlozer is bright. Currently, they are working with Instagram in the beta-stage of testing, so that companies can start using the data from Instagram effectively in the same way to help combat lead-loss.
They plan to keep adding social networks, including Twitter and LinkedIn.
The LeadKlozer team strongly believes their software is going to help agencies and businesses of all sizes turn engagements into leads more effectively on social media.
To find out more about this tool, check out LeadKlozer’s website and get involved!
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