Cold Leads No More: Rekindle Customer Interest
44% of sales reps never contact a lead again after one “no.”
That’s leaving money on the table.
Especially when you consider that acquiring a new customer can cost 4 to 6 times more, and 60% of prospects say “no” four times before saying “yes.”
What does that mean?
Your cold leads aren’t lost forever.
With the right re-engagement strategy, you can ignite the spark of interest around your brand and warm up the lead into a paying customer.
Below, you’ll find five strategies that’ll help you do just that, as well as how to monitor and measure the effectiveness of your re-engagement game plan.
What Are Cold Leads?
Cold leads are individuals who once showed some interest and later disappeared. Or never exhibited much interest in the first place.
Found at the beginning of the B2B buyer journey, these potential customers have forgotten about you. Or were never aware your business exists. You may have sent out a cold email or call, or they might have expressed interest, but then…
Luckily, all hope is not lost.
Cold leads are still a sales opportunity. With the right approach, you can rekindle the flame and warm them up into paying customers.
Why Re-Engage Cold Leads?
You’re probably thinking:
“Isn’t re-engaging cold leads a waste of time? Shouldn’t I focus on leads already showing interest in my business?”
…But think of it this way, how often do you research a product or service and only purchase it months later?
Maybe an influx of new business has changed your needs? Or priorities have shifted enough to warrant another conversation.
Whatever the reason, keeping your business in the back of a lead’s mind will make you the go-to option when the time is right to make a purchasing decision.
It’s Cost-Effective: Re-engaging cold leads is the ultimate thrifty sales move. You’ve already made the investment to acquire these leads. Re-activating their interest is more cost-effective than investing resources into chasing new leads.
There’s More Conversion Potential: Unlike brand-new leads who are more skeptical and hard to win over, some cold leads have already shown an interest in your business. A lot can change in a few months, and re-engaging with leads is your ticket to keeping the door open to new possibilities.
So, don’t let those cold leads slip through your fingers. There’s major business potential there.
What To Do When A Lead Goes Cold? 5 Re-engagement Strategies For Cold Leads
Personalized Remarketing Email Campaigns
Crafting personalized email campaigns is an easy way to reconnect with cold leads and keep your business top of mind.
Using their first name, referencing past interactions, and offering tailored recommendations will grab their attention and renew their interest in your products or services.
Here are some examples of email content to include:
- Prove you’ve researched their company.
- Mention a recent social media post.
- Share relevant industry case studies.
Use your email sequences to serve relevant content like industry news, trends, and educational resources to demonstrate your expertise and remind them how you can help.
Remember, personalized re-engagement emails are about creating a connection. You want your cold prospects to feel seen, appreciated and understood.
9 out of 10 B2B buyers are more likely to purchase after reading a valid and trustworthy review.
Your golden ticket to building powerful social proof? Case studies.
However, there is one thing you need to keep in mind to see success from this re-engagement strategy.
Always choose a case study that’ll resonate with the lead’s industry, vividly showing how your company can take the prospect from point A to B.
These real-life examples demonstrate your brand’s value and are a tangible testament to the positive outcomes your products or services can deliver.
So what elements should you include in your case study?
- A common problem
- How you resolved the customer’s problem
- Customer quotes
- The end result and ROI
Remember, relevance, social proof, and testimonials are the secret ingredients that propel your cold leads toward conversion. Use case studies to increase your credibility and make doing business with you a no-brainer.
Not using retargeting ads?
Here’s why you should:
It Amplifies Brand Visibility and Awareness: Retargeting ads give you a second chance with cold leads who have shown initial interest in your brand. It reinforces your brand’s presence and increases its recall value.
It Acts as a Gentle Nudge to Take Action: Retargeting ads are reminders that re-ignite curiosity and nudge cold leads towards taking action. You can create a sense of urgency to take action with enticing offers, incentives, or personalized messages.
It’s a Cost-Effective Strategy: Budget considerations are crucial for small B2B business owners. Retargeting ads are a cost-effective approach, with retargeted users 70% more likely to convert.
With every ad served, you have another chance to captivate, convert, and forge lasting connections.
Engaging with cold leads goes beyond dropping a like or a “flames” emoji.
It’s an opportunity to show genuine interest in their business, engage authentically, and build relationships.
Plus, it’s a great conversation starter.
Hop onto LinkedIn and uncover any recent professional achievements or milestones. Use what you find to leave a meaningful comment or as an opener for an email. But remember, no sneaky sales pitches, just genuine celebration.
Showcasing your attention to detail and authentic interest sets you apart from the noise. Keeping tabs on cold leads on various social media channels helps you nurture relationships while building trust, one customer interaction at a time.
Nurture Leads With Fear Of Missing Out
Creating a sense of FOMO (Fear of Missing Out) can be the key to re-engaging your cold leads. It’s all about creating a sense of exclusivity and value that ignites their curiosity to explore your offerings once more.
By creating urgency and scarcity around your business, you tap into the human psyche’s desire to seize opportunities before they vanish. It acts like a ticking clock, compelling your cold leads to take action NOW rather than later.
Let’s look at an example of how you can do this and bring in elements of other re-engagement strategies:
- Segment your cold leads: Divide your cold leads into segments based on interests, needs, or previous conversations.
- Create a sense of urgency: Make it a time-limited offer to propel immediate action.
- Personalize the messaging: Make the offer personalized by referencing previous interactions with your brand.
Invest In Top-Tier Content
One of the easiest ways to re-engage your cold leads is to create ‘best in class’ content.
Quality content gives you a genuine reason for reaching out. And if your content is solid then your prospects will be thrilled to hear from you.
Creating amazing content isn’t easy – just ask every B2B writer, ever.
Start with your prospects’ biggest problem and break it down into chunks.
You don’t need to solve their entire business for them. But if you can add incredible value to one PART of their business then they’ll definitely take notice.
Monitoring and Measuring Success
Keep a keen eye on your conversion metrics to gauge the impact of your re-engagement efforts.
You’ll want to pay close attention to the percentage of cold leads that re-engage after hearing from you.
This will give you valuable insights into the level of engagement your strategies are generating. By analyzing these metrics, you can identify which tactics resonate with your audience and uncover areas that may require improvement.
Analyzing Conversion Rates
Beyond engagement, tracking the conversion rates of re-engaged cold leads to paying customers is essential. This metric serves as the ultimate litmus test for the success of your re-engagement strategies.
By measuring the percentage of cold leads that convert into customers, you’ll have data that validates your tactics and provides insights into your campaigns’ return on investment (ROI).
A/B Testing and Optimization
The key to finding a formula that works for you?
By experimenting with different approaches, messaging, and tactics, you’ll find out what works for your cold lead strategy sooner rather than later.
Create variations of your campaigns, such as different content formats or contact channel.
A/B testing empowers you to make data-driven business decisions by identifying what resonates best with your target audience.
The Human Touch
Lastly, pay attention to the human element by adding a personal touch to your sales process.
Data can tell you a lot about your cold leads, but those direct conversations are worth their weight in gold.
Personal interactions, whether through phone calls, emails, or surveys, can provide invaluable insights into their experience, challenges, and motivations.
This qualitative feedback complements the quantitative data gathered from metrics, allowing you to fine-tune your strategies and tailor your re-engagement approaches to meet the needs of your cold leads.
Wrapping It Up
Learning how to re-engage your cold leads is vital.
It helps small B2B companies foster long-term growth and maximize sales potential without spending more money attracting new leads.
With the right mix of tactics, you can re-ignite prospects, guide them further along the sales funnel, and turn them into B2B customers.
How do you re-engage cold leads in your business? I’d love to hear your thoughts. Let us know on our contact page.