When you have many lost leads over a period of time, don’t panic. There are ways you can use to re-engage with them and convert them into real customers.
This article will show you how to do that. But before going into details, let’s talk about the basics to make sure we’re on the same page.
What Is Lost Lead?
A lost lead is a prospect who has not converted into a sale yet. They may have unsubscribed from your list, not opened your email, or stopped interacting with your content.
Lost Leads Reasons: Why Do You Lose Leads?
There are many reasons why a lead may be lost, but there are some common causes:
1. The content isn’t relevant enough. Your leads are getting tired of hearing about your product or service. You need to start thinking about how to keep their attention on what matters most—your product or service.
2. Leads unsubscribed. If they unsubscribed from your email list, it means they’re not interested in what you have to say anymore.
3. Not having an organized sales process that allows you to easily track and manage all of your leads.
4. Lack of sales analytics that helps you segment your leads and understand where they’re coming from and how to best engage with them.
5. Not getting alerts and notifications when something goes awry in your pipeline, or if there is an opportunity for you to reach out to a lead who may be slipping through the cracks.
How to Identify Lost Leads in Time
We all know we should identify lost leads and find them in our sales pipelines, but how do you actually do it?
Well, it’s not as complicated as you might think.
For example, you can segment your leads based on the number of people unsubscribing from your emails or marking an email as spam. Or look at how many people have received your email but not opened emails. Or if someone clicks through all of your emails but never engages with any of them.
These are all great ways to identify a lead as lost or at least determine if they’re interested in what you have to offer.
What Does Re-engaging Lost Leads Mean?
Re-engaging lost leads is all about reaching out to those who have already shown interest in your products or services, but haven’t taken the final step of buying. The goal is to bring them back to your business and convert them into real customers.
3 Steps to Re-engage Lost Leads
1. Identify Those Who Are More Likely to Return
To recover lost leads, you first need to identify those most likely to return. Because not necessarily all lost prospects are worth your re-engagement efforts, and some of them might be more valuable to your business than others.
You can identify these prospects by using your sales intelligence platform to segment your list by activity level (how many times they visited your website and how many times they engaged with your content). Then identify the segments with high activity levels and relatively low purchase rates. These are likely to be the ones that have a higher chance of returning because they already expressed interest in the product or service you offer.
You should also consider where they are in their buying path—the further along they are in their journey, the more likely they’ll be interested in coming back. If someone is just learning about your product or service, it’s going to take a little longer to decide if it’s right for them than if someone already knows what they’re looking for and what options are available.
2. Review and Evaluate Your Content
The next step is to audit your content. Lost leads may not be interested in your business anymore because your email or blog post or podcast doesn’t appeal to them.
Auditing and improving your content can help you get back on track with lead generation. It’s also a great way to improve the overall experience of your customers, which will make them want to come back again and again!
Here are some ways to audit your content:
- Check for relevance. If you’re sending an email that’s been sitting around for 6 months, it might not be relevant anymore. If you’re writing a blog post about one product but most of your customers are interested in something else, then it might not be relevant either. Make sure whatever you’re sending out is still applicable today.
- Check for quality. Is what you’re sending out good enough? Does it do its job effectively? Does it answer questions people have about your brand or product? Does it get people excited about what you have to offer? If not, now is the time to update your blog.
3. Offer Incentives and Re-engage Leads Via Emails
Email marketing is great for re-engaging lost leads. Tools like Revenue Grid allow you to set up an email sequence that will automatically send emails to your leads after they haven’t engaged with your business in a certain amount of time.
When creating your automated emails, remember to personalize them with details about the person who’s receiving the email. That way, when a lost lead opens their inboxes and sees an email from a business they were interested in, they’ll feel like it’s a personal message just for them—and they’ll be more likely to click through!
You should also include relevant content that relates directly to a lead’s interests, and don’t forget to offer an exclusive incentive for those who come back!
3 Tips to Prevent Lost Leads
1. Speed Up Your Lead Response Time
Prompt communication is a key component of creating good customer experiences, and it can also help decrease lost leads.
Here are three ways to build follow-up speed into your process:
- Automate your email follow-ups with an automated email responder. This can be as simple as sending an email one day after someone fills out a form, or more complex by setting up a drip campaign that sends out multiple emails over time.
- Utilize chatbots to respond quickly to questions customers may have after they’ve interacted with you (but before they make a purchase).
- Use social media automation tools to schedule posts for later in the week or month so you don’t feel rushed when responding to comments on social channels.
2. Take Control of Your Sales Pipeline
Most of the time, deals fall through because of problems in the pipeline—not because of anything your reps are doing wrong. It’s hard for anyone to keep track of every deal, especially when there are so many moving parts.
With a streamlined sales process, managers and reps can focus on what matters most: closing deals. They won’t have to waste time trying to prioritize tasks or spend hours trying to get an overview of their pipeline—they’ll know exactly what needs attention right away. And if something needs attention, they’ll know why.
And you can achieve that by using Revenue Grid. With it, you can see all the deals in your pipeline and how they’re doing at any given moment, so you don’t have to rely on your team for updates. And if something happens in one of your deals that affects its future, Revenue Signals will send you alerts and notifications so that you know right away.
3. Focus More On Lead Qualification
Lead qualification is a crucial part of preventing lost leads over time. Done right, it can help you find the best quality prospects fast.
- Save time and money by only pursuing those who have expressed interest in your product or service; this helps prevent wasted resources on people who aren’t interested in what you have to offer.
- Increase your chances of finding a qualified buyer—someone who’s already interested and ready to buy.
- Increase customer satisfaction by providing them with exactly what they need and want from their experience with your company, which means they’re more likely to come back for more and recommend others do the same!
- Reduce lost leads over time by preventing deals from falling through at key moments during the buying process.
Ready to Recover Your Lost Leads?
Apply the tips above and implement Revenue Grid for your business to get started. It’s a simple and intuitive tool that helps you take control of your sales pipeline, simplify your sales process, and manage leads. Hence, you can gain valuable insights into who are lost leads and what you should do to recover them.