Adding new customers to your sales funnel is essential for growth, and lead generation is vital.
For many industries, generating a lead can cost anywhere from $25 to $300. So, after you’ve made an initial contact or pushed for a commitment, what should you do when prospects disengage?
Don’t give up! When leads stop responding, hope is not lost. Smart entrepreneurs can use many strategies to rekindle interest. Here are a few options to consider:
Leads go cold for a variety of reasons, but that doesn’t mean you should abandon them.
According to Jim Obermayer, author of Managing Sales Leads: Turning Cold Prospects Into Hot Customers, 56% of people who indicated they might like to buy a product are still in play six months later, and 35% percent are still in the market after one year.
“Leads do not go cold as much as it is not yet their time to buy in the one-year cycle,” Obermayer said. “A rep may approach them before they are ready.”
Though it’s challenging to follow up after a long window of time, Obermayer suggests priming the pump, using an email first, followed by a personal call.
Don’t start a conversation without a strategy or direction.
When you reconnect, remind the prospect of the last time you spoke, the level of interest they expressed, and any questions you discussed.
If they weren’t initially ready to buy, tell them you’re following up to gauge interest or update them on what’s changed since the last interaction (like a revamped product or updated subscription options). If they still seem non-committal, don’t be afraid to ask this question:
“Should I close your file?”
If leads have been ignoring your outreach attempts, try adding value, or shifting your approach.
Consider a direct text message campaign, an email with a link to a freebie, or a direct mail invitation to a special event. Custom videos can also provide a non-threatening way to break the ice. Call prospects by name, refer to your previous conversation, and send an encouraging message to show you care about them personally.
You may be surprised by what a kind word can do!
If you’ve followed up with someone multiple times and your prospects seem bleak, it’s ok to send a farewell message.
In fact, a last chance email can elicit a 76% response rate. Used in a friendly, conversational way, giving final notice can jolt someone out of complacency and get them moving.
Here’s one example:
After several attempts to reconnect, it seems your interest in _____ may have waned. That’s totally fine, but I’m just wondering if we should keep trying or find a better time?
To keep things simple, I’d appreciate if you could respond with a simple keystroke (reply with either A, B, C, D, or E) to indicate your level of interest:
Thanks again, and I look forward to hearing from you!
One of the best ways to revive a cold lead is to stay positive.
Don’t worry about annoying a prospect; the only way you’ll know if someone’s interested is by asking! While you don’t want to be pushy, it’s better to error on the side of optimism. In reality, only 10% to 25% of all leads are followed up on. By following up, you stand a chance of standing out.