Prospect Relationship Management
When you get large numbers of leads it is unlikely that you have the resources to follow up each one. A prospect relationship management process is designed to keep the leads you have obtained active and “warm”. You can tap into those warm leads with targeted marketing campaigns as you have the resources available.
A good prospect relationship management process is designed to keep your association in front of your prospects’ eyes at least once every three months – and ideally once a month. This process should be documented and assiduously maintained to enhance the prospects’ trust in your association. A good prospect relationship management process should:
Encourages prospective members to join
Maintains contact with prospective members
Promotes income generating activities and products
Creates opportunities where prospects can interact with you
Encourages prospects to think positively about your association
Builds trust with prospective members
The prospect relationship management process can be as subtle as an article that mentions your association placed in a newspaper or as overt as a direct mail piece. Whereas the sales process is the personal way in which the association interacts with members both to get them on board and as they come on board.
There are two types of leads that you will deal with – databases and individual leads:
- Individual leads – Where a single lead comes in such as incoming calls and people you meet.
- Database leads – Generally where you have picked up a large number of leads at once. For instance, purchased databases, competition entrants and conference attendees.
An effective prospect relationship management process is characterised by:
- Multiple communication channel options - Demonstrate that your association is open and welcoming via any channel the prospect chooses to use. Be accessible via telephone, email, website, in-person or via fax.
- Targeting where possible - Segment communications so that publications and other communications reflect each group’s needs and fears.
- Multiple engagement options - Engaged prospects are more likely to remember you. Ideas for engagement include: checklists, quizzes, surveys, letters to the editor, fax back forms, etc.