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Warm Leads Gone Cold? Here’s What You Can Do

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.

Related: What Personalization Means to Your B2B Customers and How to Implement It

 

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 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.

Related: 5 Types of Interactive Content and How They Can Boost Your Engagement

 

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.

Related: Use the Psychology of Free Stuff to Generate Leads

 

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.

Related: Effective Lead Generation Channels to Watch For (In Case You Missed Them)

 

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.

 

Lead Management Best Practices for Fintech Firms

One might think that lead management for FinTech firms might seem to be a daunting exercise, but in reality, they function the same way as other lead management campaigns for other industries.

In this short article, we’ll show you how you can create opportunities for more leads and how you can nurture the ones that you have right now.

 

What Type of Lead Management is Effective?

While there are numerous lead management practices out there, not all of them are considered adequate. Among the limitless best practices we observe each day, on the other hand, you can choose those that will best serve your needs as a growing company.

Here are five best practices that you may want to consider for your FinTech business to remain competitive, healthy and sought after in the market.

Related: Lead Management Best Practices: Marketers Should Take into Heart

FREE Lead Management Bootcamp

Master lead management in 6 easy lessons delivered straight to your inbox! Take our FREE Lead Management Bootcamp today.

1. Study, Revisit and Reevaluate Your Systems Constantly

Your target market today may not be the same potential consumers that your product or service will satisfy six months from now. Markets always change, and it is imperative that you continually check whether you are still targeting the right group of people. When you upgrade your product, it is highly likely that you will need to consider either a new set of targets or filter your previous ones and add new individuals to the list.

Being aware of this reality, it is highly recommended that you keep your lead management strategies in check to ensure that you are still following the right database of clients who can keep your business afloat.

Does your lead management effort translate into actual sales? Do they allow you to build lasting professional relationships with your clients? Has your company been benefiting from the data that your lead management activities have generated? These are but a few among the many questions that you need to ask yourself when reevaluating your systems.

Related: 5 New Year’s Resolutions to Refine Your Marketing Analytics Stack

 

2. Make Your Product Relevant

Since you provide the technology that companies need to manage the financial aspect of running their respective businesses, you best serve them when you keep your product highly relevant. This means that constant upgrades to your program or application are in place and initiated on schedule. Being relevant means keeping your clients on top of the game. It also means making them very competitive.

Your product should be so useful that your clients make it their priority to keep it in good shape. This is only possible if your company has a constant presence in their business long after you have installed the product.

Related: Industry Insights: How to Influence Today’s B2B FinTech Buyers

 

3. Invest in Software that Will Fortify Your Lead Management

What better way to keep your FinTech company in fighting form than to invest in the one thing that you believe will generate significant returns for your clients – the best software!

One way to grow your business steadily is to have an efficient and reliable software system that does unquestionably effective lead management for you. Having a software system that provides automation solutions, for instance, allows you to receive data within a short period and little supervision. This means that you will have the capacity to identify the consistent and inconsistent behavior of your target market where it involves your product.

Related: Not Just an Address Book: 4 Hacks to Turn a CRM into a True Sales Tool

 

4. Keep a Clean Database

Learn to discard unimportant or irrelevant database to make more room for the ones that will give you good results. Avoid making the mistake of getting too excited about the prospect of making a sale without filtering your target client very well or else you will find yourself troubleshooting debts rather than generating more leads.

Make it a regular habit to clean your database so that you do not have to spend so much on extra storage space. There is also a need to eliminate inactive leads from your list so you can focus more on making new ones. Additionally, watch out for duplicate leads, so they do not end up eating up valuable storage space.

Related: The 5 F’s of Data Hygiene for Deeper Sales Conversations

 

5. Take Care of Your Leads

 The whole idea behind generating leads is for you to identify potential clients suited for the product or service that your business is offering. When the leads start to get in touch with you, your company must be equipped to respond to their inquiries and needs immediately. For one, it is necessary to give your potential client a proper reply 48 hours after sending you their inquiry.

Make giving quick responses part of your core competency as a company. When you establish this effectively, this will give you a winning edge over your competitors, and you would not have to worry about losing some of your clients to another provider.

Related: Value Your Leads: Lead Nurturing Best Practices to Boost Conversion

 

To sum it up, you have to understand that your leads are people, too, and at the end of the day, it is more than just maintaining a business connection, but relationships as well.

 

Callbox can help you overcome growth challenges through lead generation. Start increasing your revenue today!

 

Lead Management Solutions for Better Profits

Marketers in the B2B industry take lead generation seriously. They know that B2B leads can pose as potential sales partners, thus every effort has to be exerted in goading them into making a purchase.

But it’s not actually the convincing part that makes an effective lead generation program. Often, it is having effective processes behind one’s marketing campaign that can truly realize valuable B2B relationships and pose better revenue rates.

Now, higher revenue is obviously in everyone’s yearly agenda. And it is important to prioritize processes that realize such an end. For many B2B companies, this poses a challenge simply because of the intricate tasks involved in generating high quality leads. Even more problematic is figuring out the appropriate lead management techniques that ensure every prospect is nurtured along the way.

Luckily, for these companies, marketing solutions are within reach and it is absolutely important to harness them to attain the results they wanted. This just a matter of knowing specific lead generation needs such as:


Effective profiling and targeting

Effective profiling and targeting.

Oftentimes, businesses make the usual mistake of profiling and targeting the wrong people for their products. With marketing solutions in place, businesses can easily narrow down their search for potential sales prospects as well as achieve a more efficient program for targeting these individuals.


Prospect tracking

Prospect tracking.

Tracking B2B leads is an essential task as it gauges prospect behavior. But what’s the deal with this activity otherwise known “stalking?” It isn’t stalking in another sense. It entails knowing the type of content that makes it likely for a site visitor to engage further. Identifying such strengths enables businesses to adjust their content to suit certain types of visitors.

Email automation

Email automation.

Sending out emails to prospects can be a bore sometimes, given that it is a routine task. But as per recent statistics, most decision makers prefer to consume information via personalized emails. In this case, an automated email system can be considered in sending out tailored messages on a set amount of time. With automated solutions, the quantity and quality of your email campaign is in safe hands.

Lead scoring

Lead scoring.

Knowing how likely a prospect is willing to buy can get tricky. One has to consider numerous variables that define each lead within the pipeline. Lead management solutions enable managers to have a better experience in qualifying leads for the sales funnel. The intricate process of scoring individual leads based on their interest and willingness to buy saves managers from much of the grunt work.

Making sure that every lead is nurtured may present additional tasks, this troubles every dynamic organization including Callbox. However, from a problem we have resolved to an answer that had helped including our clients.

A case study,Turning Targets to Sales-Ready Leads With a 50 Shorter Lead Nurturing Cycle, highlighted the function of Callbox online lead nurturing tool in which client could create schemes of following up prospects through email, set specific time of sending it, remind appointments via sms and more.

This is what happens to their marketing campaign results:

By the end of the campaign term, the client was averaging 12 face to face meetings and 23 phone appointments per week. The client’s sales team was able to move 82% of all appointments into proposal stage and garnered 2 closed deals within the first two weeks, generating a three-fold return from their initial investment in the Callbox campaign. Read more..

 

How to Get your Lead Nurturing Done Right. Just follow these simple, smart and effective steps!

Lead Nurturing

The Elements of an Effective B2B Lead Management Structure

Managing B2B leads has been one of many top priorities among businesses. It is also one of the most difficult activities in B2B marketing for a variety of reasons.

Perhaps, one compelling concern about B2B lead management is application. How do you create an effective platform that can give sales a steady stream of qualified lead traffic? This has been a subject of debate. In a more realistic sense, it should not be.

Actually, there is no sense in finding the right formula for managing B2B leads. All it takes is highlighting the appropriate components that make an effective lead management structure.

Here are some elements to prioritize for a better lead generation experience:

Defined audience

Ask yourself: what type of audience do you want to pursue? Or to put it simply, to whom do you want to market your products and services? Asking these questions can aid in narrowing down your search for qualified prospects.

Effective lead nurturing

Educated prospects obviously mean better sales. It is thus imperative that a lead management database has an effective platform for nurturing B2B leads. Relevant product information should play a hand in this as it is a crucial factor for cultivating audience interest.

Effective lead scoring

Also, it is imperative to install a lead scoring system that puts into account audience activity within your sites and landing pages. Gauging the behaviors of individual prospects helps you identify which personalities to pursue and which to let go.

Accurate campaign reporting

Accurate reporting on campaign gains is also a vital component. As a business manager, you will need to oversee the operations of your lead generation and appointment setting programs. You might also want to access data that show any critical changes in your campaign’s progress, prompting the need for adjustments.

Content evaluation

Of course, content is crucial for your brand’s image. Blog articles and the like provide build credibility, thereby giving prospects compelling reasons to engage you. But what if your current content campaign isn’t converting enough site visitors? This should be investigated through the use of analytics tools for identifying which content forms present the best results.

Integration with sales

Finally, when it comes to lead quality, it is important for marketing to know when a B2B lead is considered sales-ready. In this case, it needs to work closely with the sales team in gauging the “warmness” of a lead before it is forwarded to the pipeline.

By understanding these elements, businesses can find it easy to qualify their leads and ultimately increase their conversion volumes. But do you know what makes lead management easier? Yes, tapping a competent B2B lead generation partner to handle complex marketing management tasks.

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Want to Boost Sales? Answer These Leading Questions for Lead Management

The main question a B2B marketer encounters is, “Is my lead generation good enough?”

In the industry, and anywhere else in life, we just couldn’t evade pressing questions. Qualified B2B leads are no doubt difficult to attain, urging market strategists to think along the lines of online content.

For many experts, however, relying on content isn’t enough. While it communicates your brand to your target market, it doesn’t necessarily help in the process of “warming up” leads for the sales pipeline. There is a need to consider a few extra things in your lead management to improve your qualification efforts.

Indeed, businesses always opt for cost-efficient lead generation strategies that provide a good ROI and consistent with their main objectives. But before getting your lead generation into full gear, a few important questions need to be satisfied.

“Do you have a lead scoring system?” Of course you do. Businesses rely on a scoring system to determine the purchase potential of a lead. Nurturing comes after analyzing if the lead is a candidate for qualification or not. This is helped by identifying the prospect and understanding its needs. On the other hand, an ineffective scoring system fails to obtain the necessary information your sales team needs to approach B2B leads appropriately.

“Do you have specific audience profile?” Obviously, this is a given fact. Still, many marketers often struggle with this aspect. Too often have there been cases of calling the wrong lead. Management is needed. Organizing a customer profile and keeping it in your lead nurturing database could help you narrow down your search for qualified B2B leads.

“Do you follow up on leads?” Lead nurturing, as the term denotes, is all about extensive engagement with your sales prospects. If we refer to the sales structure, a lead has a long way to go before it reaches conversion. Anything can happen in between point A and point B. And rejections are almost inevitable. This is why following-up is imperative. When you think a lead has the potential to make a purchase, by all means, never let go. Go for targeted emails and warm calls and give updates on new offers.

“Do you have anything else in store?” It is important that you always have something new to give to your leads. Special offers and subscriptions to your company’s mailing list help by supplying them with information necessary in the decision for a purchase. Also, make brand awareness count by producing unique and compelling content to complement your lead generation.

There is still a lot to consider in lead generation. And indeed, there are a lot more questions in need of answering. But rest assured, satisfying the questions above could improve your lead management and consequently improve the production of qualified leads.