Failing to record every new enquiry will cost you clients and money.
That’s because you:
- Will make decisions about your marketing with incomplete or non-existent data
- Won’t be able to nurture prospects who don’t immediately become clients (for example, you can’t send someone a newsletter if you don’t have their name or email address).
And to clear up any confusion, we do mean every single new enquiry.
No exceptions.
I know what you might think: recording enquiries that fall at the first hurdle is a pain.
However, incomplete data sets will always lead to poorer decisions, and logging only the “good” enquiries creates a misleading and falsely optimistic picture of your marketing. It’s the equivalent of an adviser only reporting on the funds that have performed above their benchmark. Recording every new enquiry really is the only way to get an accurate picture of your marketing’s progress.
Buying into the concept is the easy part. Implementing it is much harder.
So here are eight simple tricks to make sure it gets done.
1. Channel your inner Simon Sinek and start with why
When advisers and planners understand the benefits of recording all new enquiries, they’re more likely to do it.
So, if you’re a multi-adviser/planner firm, run education sessions to explain why all new enquiries must be recorded, and how they should do it.
2. Deal with objections
We’ve heard every objection under the sun to this simple task:
- “It’s pointless”
- “It takes too long”
- “The data will be used against me”.
After you’ve explained why this is important, openly discuss all your team’s objections. Then, start a game of objection whack-a-mole, dealing with each one respectfully, sensitively, and honestly.
3. Set expectations and lead the way
Once you’ve explained why this is important and dealt with objections, the business leaders should clearly define what’s expected. Then (if they advise clients themselves) lead the way by recording all enquiries of their own.
Doing this sets a great example to other team members, who’ll naturally question why they should do something more senior people aren’t prepared to do.
4. Make it easy
Unnecessary friction means you and your team are less likely to record all new enquiries.
So, create simple and easy-to-follow processes that show where enquiries should be recorded and the information that needs to be added.
There are three places where enquiries could be recorded. Decide what works for your business, then communicate the “when” and “how” to your team.
5. Record today, don’t delay
Enquiries should be recorded contemporaneously (possibly my favourite word). If not, they’ll fall through the cracks.
So, best practice is to record the enquiry before contacting the prospect. For added motivation, frame calling or emailing the prospect as your reward for recording the enquiry.
Doing this avoids the temptation not to record a poor enquiry, which is dismissed on the initial call.
6. Quality control
Every process should be regularly checked and monitored to ensure it is followed, and new enquiry recording is no different.
There are several ways to do this. In small firms, administrators could provide a valuable double-check. The adviser/planner’s manager might do it in larger firms in one-to-one meetings.
Unfortunately, these options aren’t open to you if you’re genuinely on your own. So, you’ll have to develop a cast-iron will!
7. Use the data
Understanding why we need this data will help motivate people to record it. The same is true if they see it being used.
So:
- Show that the number of people receiving your newsletter is rising
- Compare the number of leads being received with previous time periods
- Make changes to your marketing in line with what you’ve found, then communicate what you’ve done.
8. Incentivise or show appreciation
Carrots might get better results than sticks. So, consider introducing an incentive to improve the recording of new enquiries. Alternatively, find other ways to show your appreciation after things have improved.
Incentives and appreciation could be based on the firm’s or individuals’ performance.
Free resources to help you
Request a copy of our free enquiry recording spreadsheet template here, and we’ll send it to you.
Discover the 12 data points you should record for every new enquiry on our blog.
Finally, if you’d like help embedding the right attitude, processes, and habits into your business to ensure all enquiries are recorded, we’re here to help.
Email hi@theyardstickagency.co.uk or call 0115 8965 300, and we’ll set up a Zoom call for a no-obligation chat.
