This post will give insights into why you’re losing leads and ways to re-engage and convert these lost leads.
What is a lost lead?
A lost lead is any qualified sales prospect who has shown initial interest in your product/service but has taken actions that indicate that they no longer have this interest. For example, they may have stopped opening your emails, reading your content, or responding to your messages.
Why do you lose sales leads?
To start the re-engagement process, you need to understand why you lost them in the first place. Since lost leads can occur for several reasons, here are a few common reasons why businesses lose leads;
1. It was never a lead to begin with
Only 56% of B2B companies verify their leads before passing them on to the sales team. In many cases, companies may have identified the right prospect but logged in the wrong data. For example, during a webinar, you could have a very engaging prospect/lead but then after the event, it could’ve been the wrong email they registered with.
Sending emails to that address will be counterproductive. This is why you need an email finder and verifier. So that whenever you send a message, it goes to the right person.
2. You were too pushy
It may have been the right person but you came on too strong. 51% of leads afghanistan phone number list unsubscribe from emails because they get it too frequently. For a B2B business, prospects often need time to consider your offer. When the communication within this period is too frequent, it can be a turn-off.
3. You over-promised and under-delivered
Perhaps in your sales pitch and offerings, you promised a specific feature. Then, they see something else during their interaction with your product, service or review from other clients. This is very common with leads who engage with your free trial.
The number one reason why users on the free trial never upgrade is because the product did not meet their expectations. So review your pitch to be sure that you’re not overpromising or overselling.
4. You’re promising everything and nothing
In some situations, you’re just not communicating clearly. Your offers have everything and so when you’re pitching, you think you’re showing all you can offer.
In reality, the prospect is overwhelmed and then goes on to find a more simple or tailored offering. So don’t try to outline every single thing your product can do. Highlight what the client needs.
5. You did not capture the right data
When getting details about your leads, especially on a form, it cannot be too long or too little. If it’s too long, they’ll bounce. However, when it’s also too little, you won’t capture enough details that will allow you to provide personalized recommendations.
Strategies to re-engage and convert lost leads
Reengaging lost leads requires a lot of effort and attention. Sometimes even more than acquiring them in the first place. But they are always worth it in the end. Here are a few re-engagement strategies guaranteed to convert your lost leads;
1. Review the cause of loss
Instead of launching a campaign first, try to understand why you’re currently losing leads. A good CRM tool that clearly captures your customer journey like lemlist will provide these insights.
For example, did many leads drop off before or after interacting with your sales team? How many emails did they open? What type did they engage with the most? With these insights, you’ll be able to spot the key drop-off points in your sales funnel and optimize it for success.
You can also launch a survey to ask them directly if you’re unsure. The great thing about this is that you can get direct feedback about what to do differently.
2. Segment those that have a higher chance of returning
The truth is that not all lost leads will come back. So you need to channel your resources to those that have a high chance of converting. We recommend using your sales intelligence tool to identify those with the most potential – particularly those with high activity levels and who are lower in the sales funnel.
So a great example could be someone who has visited your pricing page a lot or a prospect who has saved multiple templates you provide. It could also be someone who has had more than one call with your sales team.
Depending on your business and ideal customer profile, make a new list and build your strategy based on their actions. If they’ve visited your pricing page multiple times, you might want to offer a promotion to get them interested again.
