You have a hot lead that needs immediate attention, and you called to make sure they are guided through the sales process successfully. But what happens to your cold leads? What do you do with them?
Cold leads, as you might know already, are those who aren’t ready to buy yet. They are also those who have been receiving emails from you but haven’t opened or engaged with them yet.
Cold leads are a natural occurrence in every sales pipeline. However, you have to identify which of your leads are hot, cold, or lukewarm.
Identifying Your Lead
The best way to identify whether your lead is hot or cold is to score them. You can do this by creating a point scale based on your needs. Assign points to every aspect of a prospective customer. Our buyer persona will come in handy at this point.
When assigning points to your customers, use any past information you have to help you make informed decisions. For example, if you think the sales department of a large company is more likely to become a customer, give them a higher point in their sales titles and company size.
Let’s say that a customer service representative gets 5 points because they are less likely to be interested in your service, while a sales manager gets 10 points because he has the buying decision capabilities. Furthermore, a company with 50+ employees gets 10 points while a company with less than 20 people gets 5 points because they probably will not need the services you offer.
Other criteria you might want to include in your point system are:
- The level of interaction a lead had with your business
- The number of pages visited before the decision the buy was made
By scoring your leads, you get to target your messaging based on how hot your leads are. Just make sure that you have collected the right information so you can score your leads accurately. If you know that a particular demographic is interested in your services/products or they are more likely to purchase them, you can give them higher points making those leads hotter. Here’s how to Capture More B2B Sales Leads with Multi-Channel Marketing.
However, specific leads are ice-cold. What do you do with them? A freezing lead does not necessarily mean it’s a hopeless situation. In fact, there are a number of ways how to revive them and bring back the heat.
Speaking of classifying leads, this resource can help you get started on using a predictive lead scoring system for ranking and classifying leads
Make your email desirable to them
If you noticed that a group of leads hadn’t opened any emails you sent, don’t abandon them. Instead, group them and craft an email designed to target them. Come up with a subject line that will pique their interest.
It could go along these lines:
Hi there. We noticed that you hadn’t opened the emails we sent you. Let us help you find what you’re looking for. You can talk with any of our agents so they can answer your questions. If you’re not interested, click here to unsubscribe.
It’s okay if someone opts out of your email list because there’s no point in sending one to those who don’t want them.
Highlight what’s new
If the leads you had interacted with before lost interest and had gone dark, you can revive their interest by sending them something new about your company. It could be a new product/service, new pricing, or a new feature that will enhance their experience. Don’t miss the opportunity and tell them.
Headline anything new about your company – Check our NEW pricing or NEW product features to increase team productivity. Be creative to get those cold leads hot and excited again.
Come with gifts
If a cold lead can still be revived, find ways how to re-engage them. When it comes to re-engagement, nothing beats gifts. Those gifts could either be a free consultation, an e-book, a discount, or a coupon code – anything that would add value to their business and at the same time, warm them up a little. If a company sees that there’s something of value you can provide them, they will want to build a relationship with you.
Experiment with new channels
Calling or sending emails to a prospect, again and again, can get annoying. It can even tarnish your sender reputation. People who don’t open your emails but haven’t unsubscribed might get frustrated and mark you as SPAM.
Instead of doing that, try different methods of how to engage these cold leads. For example, you can try a popup ad on your site targeting those who still visit but don’t open their emails.
Don’t let your cold leads freeze to death, warm them up!
Cold leads don’t have to die. You can still revive them by keeping in touch with them regularly even if they don’t decide to buy right away. It’s also necessary to have a team to help you warm these leads and nurture them until they make a decision. Most of all, show those cold leads that you are building a relationship with them by giving them something of value for their businesses.