Sales executives often rely upon the likelihood of converting leads into a sales deal when potential prospects show some positivity and are in constant touch with them. But, suddenly they vanish off the radar.
There are many possibilities that prospects suddenly stopped the conversation. Most likely they were not really enthusiastic about your proposal but were being polite, Or they may be interested in accepting your deal but, lack of funds or not being the relevant stake-holder or decision-maker has restricted them to deal with you, or they have left the organization, there may be a variety of reasons, but the process of following a promising lead and realizing it has gone cold can be very dispiriting.
A cold lead isn’t a lead to be ignored. Sometimes a little nudge or warming up is needed before it is ready for conversation. Cold Lead lists can be the best lists to market to because the accounts in it already know about your product and you are familiar with their operating model.
In this article, we will discuss some methods to warm up your cold leads and increase your sales.
Research before Re-engage.
Always research and investigate before re-engaging cold leads. There’s a reason why they didn’t buy or dropped out of your leads funnel. Research and customize your approach to their demands or specific needs.
Start your conversation with them by addressing the plausible reason for their departure. For instance, if it’s the product that doesn’t fit their requirement, explain to them you have feedback and how it will specify their needs, or it’s the pricing that bothering them, try to be flexible in your pricing structure without hindering profits.
Researching about the requirements of cold leads is the first step towards re-engaging them.
Not So Formal Approach
If the initial technique fails to work for you, or you haven’t found a common ground that will get you closer to your lead, send gentle reminders to them about you.
Leads must be informed about your presence, your product, and previous interactions with each other. If they are not, then make sure to inform them discreetly about your product again and refresh their recollection. It results in brand recognition and creates a positive impact on your professionalism.
Use your Sales CRM when re-engaging with cold leads, this will help you in keeping track of the activity. An efficient CRM can assist you in determining how far you have reached in their buying decision.
Whatever method you use to approach your cold leads, ensure to customize your message. A made-to-measure method very likely increases the likelihood of forming a stronger connection with leads and creating a positive impact on their purchasing choice.
If you use this method while making a call or sending an email that is relevant, the response chances will increase by tenfold.
Pre-Suasion and Retargeting Approach.
Pre-suasion is a word coined by Robert Cialdini, and it is also the title of his book. It is defined by Cialdini himself as “The practice of arranging for an audience to favor a message before actually experiencing it” Source
One method to use pre-suasion is by re-targeting cold leads via social media sites. Facebook offers a customized audience tool in which it allows you to enter the email ids of cold leads in order to target them with advertising. This allows you to approach them with your proposal before even communicating with them directly.
No one enjoys being intimidated by multiple calls, but to convey your points you must reach out to cold leads and get them to notice you. Don’t spam them with multiple calls, it will lead you to nowhere. Try to use multi/cross-platform strategically to lay down your proposal.
Some prospects respond better with a LinkedIn direct message or live video calls, try to use different mediums for communications, and try to get in touch. There should be no ambiguity in your message. It should be on point, accurate, and perceptive. Also, don’t spam them using all channels simultaneously, you will eventually lose your leads.
Converting cold leads is a tough nut to crack, they are in a class of their own. However, if converted they have huge potential sales that you can capitalize by just making some extra efforts and investing more time in it.