This formula has been tried and tested over the years in dozens of niches and industries. It actually has its roots (and gets its name!) from the medieval Italian mathematician Leonardo Fibonacci.
Fibonacci was considered the most talented wester mathematician of the Middle Ages and is most well known for his discovery of the ‘Fibonacci Sequence’. If you’re not familiar with it, the Fibonacci Sequence is a series of numbers where the next number of the sequence is found by adding up the two numbers before it:
0 – 1 – 1 – 2 – 3 – 5 – 8 – 13 – 21
It is in this sequence of numbers that the Fibonacci Follow-Up Formula is born. When you get a new lead or enquiry you should follow up with them immediately. As soon as humanly possible. Why? Because the lead is at it’s hottest the closer it is to the point of submission.
You should of course, follow-up with your leads after that initial attempt – but how frequently should you chase them? That’s where the Fibonacci Follow-Up Formula comes in.
You might have cracked the code by now, but I use the Fibonacci Sequence to determine the number of days delay between contacting our leads.
So I first contact them on day 0 – the day they first become a lead. Then I follow up after 1 day. The next day after they become a lead. Then again, I wait just 1 day before following up once more. Then I wait 2 days before following up. Then 3. Than 5. Then 8. Then 13. Then 21
The structure gives you a very balanced follow up approach and makes sure I attempt to convert the lead in a timely manner, without being too pushy or aggressive in my timings and tactics.
It’s simple maths.
An example of the sequence might look like this:
Day 0 – Phone Call
Wait 1 day Quick text (Catching up)
Wait 1 day Phone call, ‘did you get my last message?’
Wait 2 days ‘did you see this article’ (ex)
Wait 3 days do you have any questions?
Wait 5 days text ‘Did you know...?’ (ex)
Wait 8 days Phone Call ‘I notice we keep missing you’ (ex)
Wait 13 days text message ‘just catching on existing leads
Wait 21 days ‘Firstname, are you still interested in xxx?’
So next time you’re struggling with your leads, turn to the Fibonacci Follow-Up Formula! It’s just simple mathematics
Brendan O'Neill is a well loved Business Coach and Mentor, Award Winning Arts in Education Entrepreneur and Music teacher.