The Best Strategy to Convert More Business Broker Leads Into Listings

Converting more leads into listings is what every business broker wants to do. Many brokers either overcomplicate the process or they take the position of not wanting to bother the business owner and rarely get ahold of them. Whether you are an expert at follow up or not, here is the best strategy I have seen to double or even triple the amount of leads you can turn into listings and closed deals.

Why Persistent Follow-Up is Crucial for Business Broker Success

It’s been shown that 80% of sales require at least 5 follow-up calls after the initial contact, and 44% of salespeople give up after just one follow-up. This discrepancy is definitely true in the business broker world where the decision-making process can be lengthy and complex. To maximize conversion rates, brokers need a robust follow-up strategy that nurtures leads over time. Studies show that the optimal number of follow-up attempts is around 8 touches before prospects engage or make a decision. Keeping these statistics in mind, let’s look at a follow-up timeline and strategy that maximizes the chances of converting leads to listings.

Conversion Strategy: Timeline and Steps for Maximum Success

Here’s a breakdown of a 60-day follow-up strategy with suggested actions for each step:

Detailed Steps for Each Follow-Up

1. Day 1: Initial Contact

  • Method: Phone call AND email
  • Content: Briefly introduce yourself and your brokerage. Highlight any relevant experience in their industry and mention your availability for a quick consultation. Don’t overwhelm them with details at this stage.

2. Day 3: First Follow-Up

  • Method: Email or phone call
  • Content: Reinforce the value of your services by highlighting specific success stories. Tailor this to be relevant to the lead’s industry to make the story resonate.

3. Day 7: Second Follow-Up

  • Method: Email with an attachment or link
  • Content: Share a resource such as a recent market report, a guide on business valuation, or tips on preparing for a sale. Providing tangible value positions you as a supportive and informed broker.

4. Day 10: Personalized Message

  • Method: Personalized email
  • Content: Engage with questions specific to their business. For example, ask if they have a preferred timeline for a potential sale or any primary goals. This personal touch builds trust and increases engagement.

5. Day 14: Educational Follow-Up

  • Method: Email with a brief market update
  • Content: Share recent industry trends, reports, or data relevant to their business sector. This demonstrates your expertise and dedication to staying informed.

6. Day 21: Value Reminder

  • Method: Phone call or email
  • Content: Emphasize the unique value of working with your brokerage. This could include your network of buyers, specialized marketing strategies, or a track record of closing deals in their niche.

7. Day 28: Ask for a Meeting

  • Method: Email or phone call
  • Content: Suggest a 15-30 minute discovery call to discuss their specific goals and concerns. Highlight that it’s a no-obligation meeting designed to help them understand how your services align with their needs.

8. Day 35: Share Success Stories

  • Method: Email
  • Content: Send testimonials or case studies that showcase successful sales with similar businesses. This social proof can be highly persuasive.

9. Day 42: Address Objections

  • Method: Email with a FAQ or call
  • Content: Address common hesitations, such as confidentiality or how the listing process works. Providing clarity and reassurance about these common concerns may encourage action.

10. Day 50: Personal Check-In

  • Method: Low-pressure email
  • Content: Send a friendly message that subtly asks if they’ve thought more about listing their business. Keep it informal and non-salesy.

11. Day 60: Final Follow-Up

  • Method: Phone call or email
  • Content: Make a final pitch that reaffirms your unique offering, like a complimentary market analysis. Express your continued commitment to helping them achieve their sale goals.

….After Day 60, add the lead into a long-term drip sequence.

Bonus Strategies to Boost Lead Conversion

1. Leverage CRM Tools for Follow-Up Automation

Automate reminders and manage follow-ups with CRM tools like HubSpot or Salesforce. These platforms ensure timely, consistent follow-up without manual tracking, maximizing the chance of conversion.

2. Personalize Every Interaction

Personalization makes the lead feel valued. Customize emails and phone calls with references to their business type, goals, and industry challenges. This approach establishes a connection and builds rapport, making them more inclined to trust you.

3. Educate Rather than Sell

Provide helpful information and resources at every touchpoint. By offering free value, such as market insights or valuation tips, you position yourself as a trusted advisor rather than an overly aggressive salesperson.

4. Utilize Social Proof

Testimonials and case studies build credibility. If you’ve recently closed a deal for a business similar to the lead’s, share that success story. The lead will see that you have the expertise to guide them through the sale process successfully.

5. Offer a “Lasting Value” Incentive at the Final Follow-Up

At the final follow-up stage, offer an incentive—like a complimentary market analysis or free consultation—to create urgency without pressuring the lead. This can often encourage decision-making.

Conclusion

By following this 60-day follow-up strategy, you’ll be able to nurture leads effectively, build trust, and establish yourself as the go-to business broker for when they’re ready to list. With consistency and a focus on delivering value, you can transform initial leads into successful listings. The brokers that do this best have a substantially higher listing and close rate than the brokers who don’t follow this strategy.