Salespeople and comedians have something in common: More oftenthan not, success comes down to timing. Sometimes we get lucky.We're in the right place at the right time and meet the perfectprospect. Other times prospects read content we've posted, and ourphones ring off the hook. You never know when people are ready tobuy, or how something you say will resonate at just the right time.But luck is not a sustainable advantage.

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To keep your pipeline full of hot prospects and referral leads,make your own luck. How do you increase your chance of being in theright place at the right time? By following up on businessopportunities and staying in touch with your referral networks.

The early bird gets the deal

Clients value speed, which means we must always be prepared tomove quickly when opportunities arise. According to InsideSales.com, for inquiries submitted on the Web,78% of deals go to the first companies that respond. Yet, 35% to63% of companies fail to respond at all.

Mark Hunter and Andy Paul shared similar data at Dreamforce2013, suggesting that 40% to 80% of sales leads are never followedup on. Unbelievable! How could salespeople pass up opportunities tosell?

Your job is to follow up quickly . . . in fact, immediately.Most buyers research us before they ever contact us. They havefewer questions and are more pressed for time. Simply put: leadsnow have a shorter shelf life. As Andy says, “Later lives on thesame street as never.”

The only thing dumber than dropping the ball on inbound salesleads is failing to follow up on referrals. I'm always baffled whensalespeople tell me they have referral leads on their desks or intheir inboxes, waiting for a response. Are they understaffed,overwhelmed, or just unaware that referred prospects convert intoclients more than 50% of the time?

(Image: Shutterstock.com)

When people refer you, follow up immediately. That means in thenext hour, not the next day, week, or month. Failure to do so is anaffront to your referral sources. You appear arrogant,self-centered, and careless. Why would they ever refer youagain?

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Obviously, you don't value the relationships you have with them,and you certainly don't value the connections they offered. Yourlack of responsiveness and enthusiasm sends a clear message thatyou don't care. And if you don't care about them, they won't careabout helping you . . at least not for long.

Nurture your referral networks

Once you make connections — with prospects or referral sources —don't waste all that effort by neglecting to stay in touch.Otherwise, they'll forget about you long before you forget aboutthem.

While you certainly can't meet all of these people for coffeeeach week, you can find ways to stay on their referralradars. Here are just a few ideas:

• Mine your database. There's no excuse forfailing to follow up. Use your database to record relevant contactinformation and provide ticklers for future conversations.

• Use social media to share your expertise.Social media is not the place to sell, but it is a great platformto pose questions, answer questions, and communicate valuableinformation — either your own ideas or content from other thoughtleaders.

• Write a blog. Keep them short, and post atleast weekly. You have valuable industry insights, experience, andinformation that would be relevant to your clients. Link your blogdirectly to LinkedIn so your contacts see when you post.

• Solicit feedback. Communication is key tokeeping current customers happy, not just during the sales processbut also during and after implementation. Check in regularly tofind out what they're delighted about, apprehensive about, or don'tunderstand. This builds trust and customer loyalty, and turnsclients into prime Referral Sources.

• Show appreciation. Take any opportunity tothank those who have helped you in some way. It's not only goodmanners; it's a great excuse to reach out and nurture valuablesales relationships. Say it in person or via email. Or better yet,stand out by sending an old-fashioned thank-you note.

In sales, timing is everything. Referrals are everything. Andthe fortune is in your follow-up!