As we uncovered in our last post, engaging with old leads can often be a very effective tactic to quickly boost your current sales pipeline. Companies spend a lot of resource on finding opportunities, but most never take full advantage of the significant investment they’ve made in leads that were perhaps not sales ready when they were initially identified, and as such have not been nurtured effectively since the initial engagement. If it’s not the right time in the prospect’s buying cycle, don’t consider the investment as wasted – the notification of interest expressed could mean these prospects are the marketing pipeline of today, but your new customers of the future.
Old leads come in all shapes and sizes, and often we ask our clients to think about:
- Old click-through reports from email marketing –
What has happened to these prospects which engaged with your email marketing? Were they nurtured or are they hidden under a pile of cold leads?
- Forgotten contact lists -
Perhaps your organisation has moved to a new CRM system and only some of the data has been moved across. This data may hold value – for sales opportunities or marketing intelligence.
- Event attendees –
Do you have a process in place for event follow-up? We find many organisations engage attendees for a small period after an event, but if nothing comes to fruition quickly they are often left behind. Perhaps these prospects were scoping out information at an early stage in their buyer’s journey, but reengaging them may mean they pick up a project that has gone to the back of the queue of priorities.
- Ex customers –
Perhaps you have a handful of customers whose retainers ended and weren’t renewed immediately based on impending management and budget reviews. Have they dropped off the radar? Maybe they need a reminder of the successes of your relationship. Perhaps a new evaluation team are in place and you need to get to know them.
The one thing all of the above share in common is that no one is focussed on prospecting them!
Leverage your existing relationships
The massive advantage you have with old leads is you already have a relationship with them. Yes you many have lost contact for a while, and your value proposition may have evolved, but they have some knowledge of your organisation and what you can bring to the table. This familiarity can be leveraged to result in an easier sales engagement as they are likely to be more receptive to your outreach, and you are more likely to gain information about their needs which will aid the sales process. Take advantage of this and let them know about your new wins and capabilities.
Refresh your data
Although data degrades by around 30-40% per annum, there may be some prospects that have progressed down the funnel and are now sales ready. A marketing tool like HubSpot is a perfect way to quickly find the value in old lists. If you tailor an email marketing message to these prospects, contacts are easily identified as inactive by invalid email addresses. Even if the contact which you wish to target has moved on, having that intelligence will allow you to have a more informed conversation when re-engaging with the organisations – which comes back to our point about the value that inbound marketing adds to the sales team’s pitch, as they become more focussed on your buyers (inbound sales.)
The pathway into your rediscovered leads
Take advantage of this rediscovered sales pipeline with Direct & Digital marketing. The quick turnaround time on a Direct marketing campaign means an immediate increase in your sales funnel, whilst Digital marketing, slowly builds up a pipeline of opportunities at different stages in the buyer’s journey.
Looking to find out more about how Direct and Digital marketing can optimise your lead generation? Download our free ebook below.