Dead leads often comprise a significant portion of a sales pipeline. These are potential customers who either lost interest during the early stages of engagement or faced situational barriers that hindered the closure of a deal. Regardless of the reasons, these lost leads represent valuable assets that should not be overlooked. By reconnecting with dead leads, you can revive the sales pipeline, save resources, and generate new business opportunities.
Understanding the Cause of “Death” of a Lead
To understand why some leads die, it is essential to consider the patterns that emerge in these scenarios. In many cases, situational barriers such as budget constraints, organizational needs, or product limitations are responsible for reducing the prospect’s interest. However, these obstacles can be overcome by adopting the right sales pitch and strategy.
Our analysis of dead lead data reveals a revival rate of 9-10%, which is a positive outcome considering the resources invested in marketing and sales activities. To revive dead leads, consider leveraging a sales CRM tool like Paramantra, which can help you track, monitor, and manage your sales pipeline and increase your chances of success. Here are a few tips for reviving dead leads:
1. Personalize your interactions
Re-engage with an old lead by starting where you left off. If your last interaction was recent, this task is relatively straightforward. However, if it was a while ago, use LinkedIn to learn more about your prospect and make the conversation more personal. This approach will help the prospect feel valued and not just another number in your sales pipeline.
2. Drop an email
An email is an excellent way to refresh the client’s memory of your previous conversation. Send a brief and polite email that summarizes your past interaction, and then follow-up with a call. It’s crucial to prepare for this call and practice it to ensure success. Consider using a call script to guide your conversation and revive the lead.
3. The call
After sending the email, it’s time to make the call. Remember, everyone is busy, so start the conversation with a polite greeting, acknowledge that you are calling without prior appointment, and request just a few minutes of their time. Sound confident but not pushy, and make sure to value your prospect’s time.
4. Rekindle the rapport
Effective communication is key to rekindling the rapport you shared with the lead. While having a quality product is important, the way you sell it is equally crucial. The sales experience should be as high-quality as the product itself, and rekindling the rapport will help create a positive connection with the prospect.
5. Be unconventional
Conventional sales techniques can be effective, but they are not always the best choice. If your product is unique, consider taking an unconventional approach to sales to stand out from the competition. Be polite but firm, highlight the benefits of your product, and engage in a conversation rather than a one-sided monologue. Ask questions and show interest in the prospect’s views to increase the chances of success.
Reflecting Upon a Lead’s Rejection
It is not uncommon for a lead to decline an offer, leading to a sense of disappointment and the perception that time has been wasted. However, it is crucial to approach the situation with a fresh perspective and to consider asking the lead for referrals. This can potentially open doors to new leads who may be in need of the product being offered.
For those seeking guidance in revitalizing old leads, Paramantra’s cloud-based CRM software presents a comprehensive solution. Our platform enables the tracking, monitoring, and forecasting of the sales pipeline, and includes a free call tracking software that provides complete control over sales activities. In addition, it offers real-time updates, offline documentation, and mobility, further enhancing the user experience.
