Leads are the vital factors responsible for the success of your business. And your company spends heavily on the generation of leads. Just not the amount spent but the effort you put forward to retain and build strong business relationships is beyond. So, how can you give up on the lost leads?
Play until you get it right!! Here are 6 ways to win back your lost leads –
1. Analyze the reasons behind losing the particular lead
Analyzing the cause of losing leads is the first and foremost step that you need to take. Take a pen and paper and jot down certain questions on why, how and what happened, then find answers for them.
Question 1 – What type of lead did you lose? Was you lead hot, warm or cold?
Answer – If your lead is hot or warm there are chances that your still win back the leads. Incase of cold leads you must not neglect or ignore them until you can not make any further discussions with them.
Solution – Make a follow-up call and ask your lead, what made them lose interest? Once they are done, you can take further actions to address the issue. Follow-up your cold leads as well but at the right time.
Question 2 – Did you not follow-up?
Answer – If you failed following-up your lead, apologize and keep the conversation going.
Solution – Make use of a Lead Management software which helps you to streamline the entire sales process from the generation of the lead to the closing of a deal. It allows you to follow-up your leads with the help of its automated features.
Question 3- Did your lead understand the product or service you provide?
Answer – If your lead did not get sufficient information about your product or service from your website, email or blogs etc. Provide them a free demo again and allow them to clear their doubts.
Solution – Using a CRM Software can help you to provide all the necessary data as it stores and manages entire business data in a single platform.
And if you are wondering, if your company can be benefited with a CRM Software? you can reach us on SalesBabu website https://www.salesbabu.com/ and request for a free demo where our CRM expert will help you know the best use of CRM for your business.
Read our blog – Win More Leads With SalesBabu CRM Software
Question 4 – Did you lose the lead to your competitor?
Answer – You may lose the lead to your competitor and the lead goes cold thereby. The only way you can gain back them is improve your lead rejuvenation and let them understand why you are different from your competitors.
Solution – Make use of the automated email suggesting your lost lead to have a look at the new features and interests that takes them to their relevance. Nurture your leads at the right time.
2. Know when and how to retarget your lost leads
When to retarget your lost leads?
Time and mode of retargeting also plays a vital role in getting back your lost leads. Understand your lead’s preference to engage is also an added advantage. Let me give you an example – If your lead A recives your email on a monday morning, do you think she/he will open the mail? Certainly no, but if she/he has a facebook ad popup she/he may check the Ad at least in the evening before he/she closes for the day. You may certainly not know which is the best time but you can surely give it a try!!
How to retarget your lost leads?
- Marketing campaigns
The marketing automation software helps you to evaluate the marketing campaign and also take lead reaction in concern. The Email and SMS or win back campaigns are one of the most widely used marketing campaigns all over the world.
Lead ads are essentially form-based ads that offer lead magnet in exchange for customer information. These lead-ads are the best ways of running ads as a retargeting setting. You can make use of the Facebook lead ads as they are natural looking forms of lead-ads. It is effective in getting your leads back as it does not force your leads to view the ads but reminds them of you.
- Limited offers
Limited offers and discounts are a triggering marketing effort as it creates urgency among your leads. Your leads would surely not wish to drop on a valid deal.
Read our blog – How to follow up sales leads smartly and how frequently?
3. Segment your lost leads
Lead segmentations allows you to target your lost leads at the right time. A well segmented lead database is the foundation for personalized engagement and targeted win back campaigns. It includes segmentation by explicit segmentation and implied segmentation. Make a list of questions based on the demographics, geographics, attitude and interests and other factors before segmenting your leads accordingly. Thus, you will get an idea on where and when to invest your efforts in order to win back your lost leads.
5. Digital marketing is the new trend
Digital marketing is a way to promote brands, products or services online through digital channels. Digital marketing aims to help businesses reach the target consumers through digital avenues. The multiple forms of digital marketing strategies are –
- Website marketing
Your website is one of the best ways to create your brand’s impression. Website marketing utilizes the SEO which is the process of customizing a page, so it rates high on search engine queries. More traffic translates better online advertising placed on the website. When the user or the lead visits the ad on the website’s page it increases the CTR of the website.
- Content marketing
Content marketing is another important tactic which plays a vital role in digital marketing. Content marketing creates and promotes certain content assets that are aimed at attracting and engaging your target leads. Proper promoting and sharing of content at the right time can help you gain back your lost leads.
- Social media marketing
Social networks are one of the fastest growing industries all over the world. There are various social media platforms available on the internet which helps you to carry out your social media marketing. Here are certain tips for social media marketing to gain back lost leads –
- Identify which channel your lead prefers.
- Build engagement with your content.
- Treat each social media platform differently.
- Follow-up on social platforms.
5. Provide new updates
Are you not working on improving your product or service? Then why don’t you update your lost leads about it? They may or may not be interested but you can surely have a check on them, right?
You may find very few responses but you will surely find a way to re-engage with the conversation.
6. Ask for feedback
You must accept the fact that all lost leads do not come forward to re-engage and go ahead with sale. But these lost leads will surely be willing to provide their feedback.
Your customers are the ones who are making use of your products and services so they know it better – on how you can improve your product or service for the better. Always understand the fact that, you are not the only product or service available in the market. If you do not focus on your customer’s feedback or suggestions there are more chances that the customer tends to find another company that may do it even better than you. Thus, the insight from your lost lead will help you to improve yourself as well as the business.
How to win back Customers Trust :
- Find out the source of the problem – Before you can retrieve the trust of the customer, you must understand why it was lost in the first place. Only then you will be able to take the proper steps to remedy the issue. Some customers are direct—they voice their resentment and tell you why they have lost trust in your company. But, more frequently than not, customers simply move on to a competitor. A recent study will tell you that 4% of customers that were “wronged” by a company complain, while the other 96% stop buying and tell their squint about the problem.
- Own up to your mistake – Once you’ve identified the problem—whether it’s a general problem that plagues a group of customers or a unique scenario impacting only one customer—you must always accept all your mistakes and take responsibility. The easiest way to lose a customer for life is to become defensive or refuse to take the blame for an issue.
- Apologizing may seem like a simple step, but it’s an essential way to rebuild your relationship with an unsatisfied customer. In fact, studies show that when an apology is discerned as genuine, customer satisfaction will increase by 10 – 15 %.
Why Customer Complaints Are Good For Your Business? Have a look!
Tips to be followed in the process of gaining your leads back
- Predict how long a re-engaged lead would stay on board.
- Know when and whom to provide with which offer.
- Focus on cost, ROI as well as time during the process.
- Follow-up is the major factor behind gaining lost leads. Use a CRM software to manage tasks like – set reminders, alerts and follow-up activities easily.
- Make sure you are being responsive to your lost lead’s replies.
- Personalize your communication with your lead as it can create great impressions. Sending on messages on birthdays, anniversaries and special events can also create better conversations.
- Try to understand your client’s requirements which may include various factors like comfort, family needs and personal desires etc.
- Market segment your leads well and you may find another lead similar to the lost lead.
- Stay consistent throughout the conversation.
Check out this blog, How CRM Helps Businesses Engage Customers – Better
Not all lost leads can be won back with these strategies, but some can be re-engaged with these strategies. You may have put in all the efforts to follow-up your lost lead but you should also be aware of – when to step back. Send them emails or SMSs which depicts your hope to work together in the future time period.