If you keep up with your lead generation news, you may have spotted a startling statistic from recent research that suggested that a massive 98% of marketing-qualified leads (MQLs) will never actually result in closed business. This can be very hard to take in, as the majority of your lead gen efforts end up feeling like a waste of time.
However, the reason that many MQLs don’t turn into sales is often because leads are forgotten about. The lead may not have been ready to sign on the dotted line there and then, but this isn’t to say that they won’t do in the future. If leads aren’t followed up, nurtured and their progress carefully tracked, they can easily become one of the 98%.
An introduction to ‘resuscitation marketing’
A term coined by author and CMO of Australian company Infiniti Communications, Pete Williams, resuscitation marketing isn’t really anything new. It’s the realisation that it can actually be a lot cheaper and more effective to make efforts to revive a dead or neglected lead than it can to start the whole lead gen process from scratch.
Smart lead gen professionals have a range of tricks up their sleeves for piquing the interest of so-called dead leads and bringing them back into the sales process. Here are just a few pointers:
- Refreshing and adding more detail to your data – if you can tag leads with reasons why they ended up in the ‘dead’ pile, you can target new content campaigns to each distinct category. For example, the ‘lost to competitor’ category can be sent a more tempting price than your rivals can offer.
- Be direct and simple. Not all lead revival campaigns need to be all-singing and all-dancing. Sometimes a simple ‘we haven’t heard from you in a while’ or a direct ‘are you still looking for a new IT solution?’ email can jog the lead’s memory and make them aware of you again.
- Be more creative. If your previous tactics didn’t work, what makes you think you’ll be successful with the same thing this time? Your approach clearly wasn’t right for that particular lead, so it’s time to try something new. A lot of lead generation work, particularly at the stage where you’re trying to revive dead leads, is about creativity and experimentation.
Why it’s always worth trying one more time
Even if a lead didn’t seem interested before, there are several reasons why it’s worth trying again. For example, the lead may have:
- Been granted new purchasing power
- Now have a strong need for your product due to changed circumstances
- Have had time to do research
What’s more, the time that has passed can also do wonders for boosting your reputation and awareness as a company. The lead may have seen and been impressed by your marketing, or had a recommendation from a colleague – they may be delighted for you to get in touch again.