Dead leads usually make up a huge chunk of your sales pipeline. These are leads that either lost interest during the initial stage or did not close due to conflict of interest. Whatever these reasons may be, a lost lead is a valuable asset. Connecting with a dead lead is a good way of re-generating the sales pipeline. Not only does this provide a cost-effective way of getting in touch with a dead lead but also lets you harness existing resource.
What Went Wrong?
– The prospect lost interest after the initial interaction.
– Situational barriers prevented closure
– The lead expressed interest during the initial stages but stopped communicating later on.
If you notice, there is a visible pattern in all 3 cases where it is situational barriers that have hindered the prospect’s interest. These factors could be related to budget, organisational needs or product shortcomings. Despite there, there is a chance of regenerating dead leads as previous hurdles may no longer exist. You can revive dead leads by adopting the right sales pitch and strategy.
We analysed such dead lead data and found that there exists a 9-10% revival rate. This a good number considering the amount of resource you have spent on marketing and sales engagement. If you have lost track of your dead leads, then you can begin by investing in a sales CRM. Parmantra’s sales CRM is one such software that helps with the regeneration of dead leads.
While converting old leads is not an easy task, it’s definitely not an impossible feat. Follow these sales tips and you will have higher chances of reviving dead leads
1) Personalise Conversations – Re-engaging with an old lead means picking up from where you left. This is easy if your last interaction was 3 days ago, but not so much when it was 3 months ago. So, tune into LinkedIn to read a little more about your prospect. This will not only make your interaction more personal but let the prospect know that they are not merely a number in your sales pipeline.
2) Drop in an Email – An email goes a long way in helping the client recall a conversation. Ideally, you should send a brief but polite email that summarises your previous conversation. You can get on a call with the prospects after you send the initial email. Now, this is going to be an important call and you want to practice it once. You can also refer to our call script which will definitely help you revive re-engage with your lead.
3) The call – You have done your homework and sent that email. Now comes the integral part – the call. This is one step that most sales executives get wrong. Remember, everyone is busy and you need to value your leads time. Start the conversation with a polite greeting. Next, acknowledge that you are calling without prior appointment and just need a few minutes of their time. Sound confident but not pushy.
4) Rekindle the rapport – You can rekindle the old rapport you shared with your lead through effective communication. Sure, you have a great product in hand but you know what’s even more important? The WAY you sell it. The quality of the sales experience is as important as the quality of the product you are selling.
5) Talk Different – Why are you using conventional sales techniques when your product is unique? Be unconventional and the likelihood is that your prospect will remember you as opposed to your competitors. Approach them with a polite firmness and do not come across as an aggressive seller. Present your product to the prospect, highlight its benefits and ask questions. It is essential to hold a conversation rather than having a one-sided monologue about the product. Clients appreciate your interest in their views, so ask them questions and don’t talk at them.
What if The Lead Says No?
There is always a possibility that the lead might turn down the offer. In this situation, you may feel that all those follow-ups and calls were a waste of time. But before you feel dejected, did you think of asking your lead for referrals? Well, if you haven’t then you should. There is always a chance that your lead may know people who need your product and can help you get in touch with new leads.
If you are willing to take go that extra mile to revive old leads but are unsure of what process to follow, then Paramantra’s cloud-based CRM software is the solution for you. With our services, you can track, monitor, record and forecast your sales pipeline. Equipped with free call tracking software, our CRM gives you complete control over your sales activity. Real-time updates, offline documentation and mobility are just some of the many benefits of our CRM software.