As business regulations and COVID-19 warnings & recommendations change daily, you might be finding yourself constantly looking for new ways to increase your lead flow.
Look no further! You can substantially increase your lead flow without generating new leads, yes you heard us right! Your unsold leads are a fantastic source of new business. These individuals are no strangers to you, as they’re people you’ve had relationships with prior to today’s business disruption. You’ve given presentations to them, but odds are, they probably just weren’t ready to buy yet.
The fact of the matter is, 60% of the leads that say NO to your sales reps DO end up buying a similar project from another company within a year. Now I’m sure you might be asking yourself, how can I “effectively convert” these expensive, unsold leads to paying, referral-giving customers?
The Handwriting is on the wall!
First, you must realize that your unsold leads are living, breathing profit channels that need constant attention and nurturing. And second, to drive additional profits, you need to implement a consistent, follow-up system! Don’t use today’s business disruption as an excuse, learn how to stay strong and drive your business forward during COVID-19. How you sell your work, so people will still do business with you, especially unsold leads, is important. Revive your unsold leads to maximize your profit potential. Here’s how your CRM software can help:
To be most effective, your unsold lead follow-up program has to be much more than a singular event and should include up to 10 follow-up ‘touches’ in the year following your initial meeting. A touch can be any combination of correspondence: courtesy phone-calls, emails, letters, postcards, surveys, etc.
A typical follow-up system will include two types of communications to your unsold leads:
1. Sequential Communications (post-presentation follow-up): This is a more of an immediate type of correspondence directed to ‘individuals’. Here are a few examples:
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- Thank you for the opportunity – a simple email message that evolves to a more sophisticated informational gathering touch point
- Lead Survey – find out why they haven’t purchased yet, and use that information to follow up with special offers and targeted campaigns
- Power Proposal – a professionally printed proposal to build trust
2. Ongoing Targeted Communications (impending-event promotions): This type of communication is perfect to use for the current business disruption. It’s a periodic message directed to specific groups of your unsold leads. Here are a few examples:
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- Second Chance – use emails to reiterate virtual consultations, the benefits of your business and offers a special, one-time only hold-the-price promo
- Price Decrease – send postcard notices on a specific product as an incentive to act now, with the best price of the year directly from your manufacturer
- Relevant Event Promo – revive unsold leads by offering a promo about something going on in their world right now like the recent stimulus plan
How to Execute…
You must get your entire company dedicated to these efforts in order to successfully revive your unsold leads. Start by creating a simple ‘plan of action’. Have a brainstorming meeting with your marketing and sales staff to discuss this critical business strategy and lay-out your systematic follow-up plan! Last, don’t forget to take advantage of the industry-specific, turnkey resources (mailers, automated messages, marketing kits etc) available to you from MarketSharp or your CRM software to make this process as simple as possible.
Interested in learning more about how an industry-specific CRM software can help revive your unsold leads and maximize your profit potential? Schedule a Discovery Call to learn more about MarketSharp.