Stop Giving Up Too Early. Ideas to Re-engage Lost Leads
There is nothing worse than working for months on a lead only to lose it to another company because of a few bucks. The countless emails, phone calls, proposals, and research are all flushed down the drain. As a previous marketing agency owner, I know the frustration. So let’s re-engage lost leads and end the frustration.
As I continued to grow my marketing agency, I also learn a couple things. Just because the lead goes cold, says no thanks or stops responding to emails does not mean they are lost. They just might need more time, get the budget approved, or whatever.
I get it, it is hard to re-engage with a lead once they go cold. You feel like you are bothering them or being too pushy. You do not want to be that guy. So, you give up before the lead is ready to close. On average it takes 6-8 touches before closing a deal. This means you need to be persistent, not pushy.
This is where the sales process stops for most. “I tried and did not convert that lead. Let’s see what is in the pipeline and start the process over.” It can be draining.
There are tons of non-converted opportunities out there because we fail to follow-up with the unengaged leads or lost leads. We never pick up the phone or send them another email. Well, today we are going to discuss how you can follow up and re-engage lost leads.
Start with A CRM & Marketing Automation
In order to re-engage with a lost lead, you need to log your information in a CRM. The benefits of a CRM for your sales team are tremendous. Before you start with any B2B lead generation, you need to set up your CRM and marketing automation platforms.
Your CRM is going to hold the key dates and integrations of your sales process. Logging this information will help you set a reminder and automated follow-ups with your lost lead, increasing the chance you can re-engage this lead.
Without a CRM and marketing automation system in place, re-engagement because manual. This decreases the effectiveness because we are working on sticky notes or excel spreadsheet to follow up with lost leads.
Re-engage Your Leads with a Nurture Campaign
Marketing automation is great because it can do all the hard lifting for you. For example, your lead goes cold, you can set up a trigger in your marketing automation platform to shoot off a series of follow-up emails over the next 6-12 months.
Part of the inbound marketing methodology is providing the right message at the right time. Marketing automation will help you and your sales team revive your lost or unengaged leads with the right message, delivered at the right time. Marketing automation will save you tons of time and effort while landing more deals.
Use Triggered Events
When I would bring up triggered event marketing tactics to past clients, this was always a topic of conversation. Using trigger-based events is highly effective because the event is behaviorally based.
For example, your prospect goes cold for some reason. They got distracted by another project and your sale became less important. It happens. When this lead comes back to your site and visits the pricing page, you will be notified along with a personalized email sent to the prospect. We know this works because they willingly reengaging you and your company. They are ready.
Event-based triggers come in all shapes and sizes. From social media posts to email triggered events. Triggered events are a great way to re-engage lost leads.
Provide Company Updates
Does your company have a new product or benefit? Are you telling your past leads about these updates? You should be.
There may have been one feature that your product was missing and now that you have it. This one update might be what you lost lead was waiting for.
Providing your lost leads, a reason to re-engage with you will help close those opportunities that you think you lost. Give your users updates as often as possible.
Invite Your Leads to Your Events
Holding events at your office or a conference is a great way to engage new leads. It is also a great way to re-engage lost leads.
This does not have to be at your office either. You can attend a conference and if your lead is attending, it would be a great time to re-engage them and catch up. Make sure to not just make this about the sale but try to find out how you can help them.
Events can be a powerful marketing tool that can generate buzz around your business. Events should be part of your B2B demand generation strategy.
Reach Out on LinkedIn
LinkedIn, the platform that all salespeople love, and business owners tolerate. I am going to warn you about LinkedIn, do not be the creeper that is always checking in on the profile of your lead. Remember, they can see who looked at their profile.
Now if you use LinkedIn the right way, to re-engage and add value, you might be onto something. The goal here is not to SPAM your LinkedIn contacts. Make your interactions meaningful and engaging.
Use Social Retargeting
Did your lead go cold and you have no idea why? Well, if they have visited your website you should retarget them on social media.
There is a marketing method out there that states, look bigger than you are. If your lead sees your ads on Facebook, LinkedIn, Twitter, and Instagram they will think you are a huge company, even if you are working out of your garage.
Social media advertising is super targeted and highly effective because the lead has already engaged in your brand. Many times, retargeting is less-expensive than other forms of advertising and more effective.
Social Media Listening
Social media listening is the process of identifying and assessing what is being said about a company, individual, product or brand on the Internet. Listen to the conversations your leads are having on social media if they mention your brand, product, competitor, or whatever you will be able to jump in and re-engage the lost lead.
Again, you do not want to be all creepy big brother here. Make sure that you are listening to the right conversations and jump in when warranted. Put the social back in social media.
Send a Postcard or Written Letter
Nothing shows compassion like a postcard, especially a hand-written postcard. Yes, I know that the blogs out there say that direct mail went the way of the dinosaur, but this is a personalized piece of content.
Sending a postcard to re-engage lost leads can be very powerful. First, they are already blocking emails and screening calls. So, this might be your only way to make it past the gatekeeper.
A personalized postcard or written letter only costs you a stamp, piece of paper, and an envelope. Write something that connects and re-engage that lead.
Personal note: This is near and dear to my heart, I would re-engage lost leads with written notes in my agency days. In fact, this is how I landed one of my first large deals. The lead stopped showing interest, so I sent a personal letter with my business card, sales brochure, and personalized proposal with a solid offer. They called back and signed the deal.
Create a Re-engagement Offer
The re-engagement offer can be used in combination with just about every other lead re-engagement tactics out there. This is the very best offer that you would only give to two people. Your mother and a lead that went cold and needed to be re-engaged.
This offer needs to be enough to get the attention of the lost lead. A simple free trial or 5% off is not going to cut it. Maybe you offer free onboarding of your new flagship software. Maybe you cut 25% off of the first year of their subscription.
This re-engagement offer needs to be something that kills it and closes the deal. Again, you do not give this away to just anyone, only the few that need a little push.
Re-engage Lost Leads
One of the best small business marketing ideas is to follow up with your old leads. Leads that have gone cold can still be a gold mine. These leads have shown interest in your product or service and for whatever reason did not convert. Don’t forget about this category of leads as they may be your best source of new revenue. Put together re-engagement campaign and squeeze every dollar out of your B2B demand generation tactics.