Tips to re-engage with lost leads and win them back

For a salesperson, there is nothing worse than spending days pursuing a lead only for them to back out at the last minute or disappear without a word. A lead may have previously shown interest and seemed eager to learn about your products, asking thoughtful, detailed questions. But there could be many reasons why they decided not to proceed with a purchase.

Fortunately, a lead losing interest does not necessarily mean that the opportunity for a sale is lost forever. They might have only put the decision on hold temporarily due to budget or time constraints. A key decision maker may be sidetracked by a personal situation or a contingency in the workplace. Or they may have implemented another solution but found that it doesn't meet their needs. 

By taking the right measures, there is still a chance for you to reignite their interest and turn them into paying customers. First, let's understand what lost leads are and why it's worth engaging with them.

Understand lost leads

Lost leads are potential customers or prospects who showed interest in your product or service but did not end up proceeding with a purchase. These individuals may have initially expressed interest or intent to buy, but backed off for various reasons, like a change in preferences, budget constraints, or finding a better offer.

Studies have found that it typically takes a minimum of five follow-up attempts after the initial contact for a potential customer to say yes to a deal.

This means you should keep following up with a potential customer unless they respond with a firm no. But to make the best use of your opportunities, you need to test and find the best format and frequency for follow-up communications. This will help you maximise your chances of closing deals and leave a positive impression even when you can't win the sale.

Here are some strategies you can implement to turn lost leads into paying customers.

Filter your leads 

Remember that not all leads are suitable for re-engagement. To make sure you are focusing on solid opportunities, it's necessary to set up an effective evaluation process to determine which leads are worth another try. There are several factors you may want to consider:

• How far the lead advanced down the sales funnel

• The amount of time elapsed since your last interaction

• Whether they gave a sign of strong interest, such as requesting a demo

These factors can help you identify the most promising leads for re-engagement and increase your chances of successful conversions. You can then categorise them and tailor your messaging to address their concerns or objections and emphasise the most relevant value propositions.

Gather helpful insights 

Encourage your sales team to take notes in your CRM about each prospective customer, including their biggest pain points, budget, decision-making timeline, or any information they give about what's stopping them from making a purchase. These notes can provide valuable insights for future sales strategies.

You can also set up relevant triggers in your CRM to automate email sequences, ensuring you never miss sending a planned follow-up message. For instance, Zoho CRM's SalesSignals feature keeps you informed in real time about any interactions your leads have with your brand that show purchase intent, like revisiting your site or viewing your pricing page. You can integrate this solution with a dedicated customer experience platform like Zoho SalesIQ to gather more meaningful insights and drive engagement with potential buyers.

Take a new approach 

If your previous attempts to win your leads have not been successful, you might need to restart the conversation with a fresh approach. You can tailor your messaging to address their past concerns and share helpful case studies and industry updates or encourage them to take advantage of a free trial or special offer.

Another approach is to give the potential customer a sneak peek of a new service or product that might interest them based on their previously stated requirements. If you're unsure why they lost interest, it's always a good idea to ask why. You can implement email survey campaigns to capture feedback and understand how you can improve your approach in the future.

Train your sales team

Reconnecting with old leads gives you an opportunity to close missed sales. However, it's crucial to handle this process delicately to avoid any negative impact on your business reputation. Being persistent is a virtue in sales, but you never want to come across as pushy or disrespectful. It's essential to provide your sales team with clear guidelines on what actions to avoid during this process. Here are three common mistakes your sales team should steer clear of:

Excessive follow-up messages: Bombarding leads with excessive phone calls or emails can come across as intrusive and pushy. Ensure your leads learn when to stop and move on to new leads.

Poor timing: Work closely with your sales team to determine the optimal follow-up interval for your business. Make sure you understand the potential customer's buying cycle or timeline, and avoid following up too early or waiting so long that their interest fades between each conversation.

Inadequate research: Uninformed conversations can backfire. Make sure that your sales staff always takes the time to review any notes from previous conversations or other available information about the lead before approaching them.

We hope this blog helps you adopt a more effective approach to reconnecting with lost leads and converting them into paying customers. If you want to share your experiences or topics you'd like us to cover on this blog, let us know in the comments!

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