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Transform cold leads to warm potentials with CRM


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 defined

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.

Steps 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.

Team Intellika

Comments (1) -

Charles Wattson

For having cold leads you need to have very right CRM solution in your hands and then you can transform them into significant important contributions for your business.
To set the expectation levels, you need to identify the source of your head. Another thing you can do is to check the qualification; here qualification means how relevant your prospect is to your target audience. This will not only save your time but you can utilize this time in acquiring new prospects.

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