In any area of business, leads going cold
is a regular recurrence. Even with conversion rates higher than industry
standards, you must have seen hundreds of leads going cold on a daily basis.
Our existing systems of marketing always prioritize warm leads, due to the ease
and minimum resource requirement with which they can be approached and closed.
Cold leads, although mostly ignored, can however be a great potential source of
revenue if properly tapped and handled.
Cold leads are usually potential customers
who have gone “cold” or silent. The best way to approach these leads is to find
out the nature and reason of that silence, and to see if you can do anything
differently to get them back into the thick of things. With the right CRM solution in your hands, you can easily revive and resurrect these
cold leads and transform them into important contributions for your business.
to transform cold leads to warm potentials
Here are the steps you need to take to
fully tap the unused potential of your cold leads –
Many times, the lead source is one of the prime factors which results in
a cold lead. Businesses have many user touch points which represent varying
levels of urgency. Cold leads mostly originate from those touch points which
are low-urgency in nature, like mass mails cold calls. The first part of the
process is to ascertain the point of origination for your cold leads.
Then, you must try to achieve better knowledge about the awareness levels
these cold leads possess about your business. The awareness level would depend
how well you have followed up no those leads and the amount of interest you
have been able to spark.
Following this, you should set up a relevance study, meant to ascertain
how impactful these leads can be once added to your overall target audience.
Based on their behavior and communication with you till that point of time, you
can configure your CRM platform set the appropriate filters regarding lead
acquisition, and gain knowledge of relevance.
One of the most important steps is to ascertain why these cold leads did
not get converted in the first place. Investigate common turn-offs, reach out
with surveys and opinion polls and arrive at a reason so that you can learn
from your mistakes.
It is then time to establish in these leads the need for your product or
services offerings. This involved contacting them regularly and letting them
know of the value-addition your offerings can provide
Setting up alerts and monitors in your CRM platform will now allow you
follow up on these leads and gauge their response
You also need to find newer, more engaging means of communication to
connect with these leads to finally win them over.
Next, carry out a final assessment of engagement levels through measuring
positive changes in activity, response and communication.
When you are convinced, it is time to move in with your CTA.
This is the way you can make the most of
your cold leads and open up a new revenue stream for your company.Connect with us at Intellika
to explore how you can drive this process better with a handy CRM.