You might have created different lead generation strategies over the years and have greatly benefited from them. However, even the most amazing strategies have failures and behind its wake are hundreds of lost or dead leads — those leads who didn’t convert. These dead leads are usually stored in a forgotten folder and left gathering digital dust.
Marketers don’t care about them anymore. Well, these people already said no, why should you care what happened to them, right?
What if we tell you that you can also recycle your lost leads. You can even bring dead leads back to life!
It’s okay if you feel skeptical about it at the beginning, but you won’t lose anything if you re-engage your leads. In fact, you can gain something from it.
It doesn’t need a mind-boggling miracle to do that, but putting on some extra work and using the best practices in lead generation.
How to Reconnect with Lost Leads
Before you start re-engaging your lost or dead leads, you need to find out first why you lost them before. Some of the reasons could be:
- Losing them to a competitor
- No budget at that time you talked to them
- Product lacks the features they need
- Poor customer service
All of these obstacles can be countered using the following strategies:
Track changes
According to Verloop, companies lose 30 percent of their leads every year because they have also lost track of them. Some of the reasons might be because the leads had changed their email address or phone number. Another is they might have changed their jobs and moved to bigger opportunities.
If this happens, it might look impossible to make a sale because your lead is in a new company. You can use it to your advantage by reconnecting to them. You’ll never know if they need your product or service where they are at right now.
Educate your leads
Use your website to educate your leads; however, avoid doing that with an FAQ. Your website should be like a sales rep — filled with information that engages and educates them, and you cannot do that with an FAQ. According to OptinMonster, 81 percent of companies increased their sales using videos while live chat increases conversion rates by 30 percent.
Focus on the ROI
Here’s the reality — businesses want the latest technology but they end up scrapping the idea because they either have no budget to purchase it or they cannot see an equitable ROI for the technology.
To overcome these types of excuses, highlight the ROI your company can provide instead of the price of your product or service. Make sure to include testimonials, case studies, and relevant examples from previous clients. You can also use conceptual pieces that highlight the greater benefit you provide, such as total cost of ownership or reduced downtime.
For example, if your product costs $1,200 but your prospect only has a $1000 budget, they are likely to buy from a competition that offers a lower price. But if you show them how they can double their revenue by investing in your product, you’ll be able to convince them to reconsider their decision.
Nurture
When you lost your leads to a competitor, you can turn these losses into opportunities by creating a nurturing program for them. Start by asking your leads what made them choose the competition. Through that, you’ll be able to get an insight into what your competition is doing, what they’re offering, their strengths and weaknesses, and other important data.
After that, enroll your leads to a nurturing program where they have access to your latest product offerings, special discounts, valuable content, and so much more.
Create a road map
A road map keeps you and your team on the same page. It also helps you align your business goals and your product design. With all the information in one place, you and your team can clearly see what product features need to be changed or removed.
Give incentives
Once you have your leads’ attention, you don’t want to lose them again. Keep them engaged and interested by giving them incentives, like free add-ons, extended warranties, or discounted packages when they buy your product within a certain period of time.
Get feedback
Feedback is necessary for the growth of your company. An effect and non-invasive way to get feedback is through surveys. It is also an effective way of re-engaging lost or dead leads as well as find out the problems they encountered when engaging with your brand for the first time.
