Spring has nearly sprung, which means it’s time to do some spring cleaning around your shop, and the best place to start is by dusting off and taking a fresh look at your old leads! If your company is like most, chances are you have a pile of old prospects laying around in a closet somewhere, used and forgotten. A large repository of leads which, because of bad timing, budget constraints, or any one of the many reasons leads don’t convert to buyers, disengaged during the initial sales cycle never to be heard from again. But despite what you may think, these leads are not dead—in fact, with a little elbow grease and the right content marketing strategy, these leads may prove to be full of potential.
Give your audience targeting strategy a tune-up with tips from our free guide: The Pre-Targeting Advantage.
Why Create a Lead Recycling Program?
Many old leads get lost in the fold and eventually are forgotten by salespeople. This is primarily because good salespeople generally focus their time on higher-probability prospects with the best chance of closing the quickest. This strategy, while effective, leaves them with very little time and incentive to revisit lower-probability prospects, and even less for all-out cold leads. But with the right strategy, outlook, and application of content marketing, it IS possible to revive and convert these old prospects.
Not convinced? Consider this: With most of these used prospects, you´ve probably done most of the heavy lifting already—gathering data, establishing a connection, educating them on your products, and defining your products’ value to them. The key converting “cold leads” is to start seeing them for what they really are: a cost-effective, efficient solution to growing your conversion rates and positively affecting your bottom line. Doing this will also give you a leg-up on your competitors, since very few companies have lead recycling systems in place to recover and nurture old leads.
Basic Guidelines for Recycling Prospects
Once you decide to develop a leads recycling system, consider the following important tips:
- Get buy-in from your salespeople. It may not be easy, but it is critical to the success of a lead recycling program. By moving lower-ranked and cold leads into a nurturing phase, you are actually helping to create well-nurtured leads later on, which salespeople will appreciate.
- Set up an easy system that allow salespeople to forward prospects that need to be recycled, including lost opportunities, delayed decisions, leads with budget constraints, and cold leads.
- Put more into your marketing up front. Avoid losing leads in the funnel by making sure your content is properly tailored to your audiences by investing more time and money into content and ensuring that your content always takes into account the format that the audience prefers (e.g. text, image, video, short form, etc.), addresses your audiences’ needs, interests, pain points, and budget, and stays fresh and varied.
- Be sure to perform regular testing of your content and consult your analytics to find what content and distribution methods have performed well in the past, then emulate those in future marketing campaigns.
Convert more leads using tips from our guide: The Pre-Targeting Advantage.
It takes a lot of effort to generate qualified leads—don´t let them go to waste. By setting up a recycling program for your leads, your shop can optimize your efforts and produce more sales.