Recycled leads are leads that have been referred back to the marketing department from the sales department because the lead was not yet ready to make a purchase. Recycled leads can be a headache for marketers, who often complain that their cramped schedules do not allow time for lead nurturing. It’s not uncommon for leads that have been recycled to slip through the cracks and become aged leads.
Unfortunately, if leads who become ready to buy feel as if they have been ignored by your company, they are likely to take their business elsewhere. On the other hand, a report issued by DemandGen found that companies which practiced good lead nurturing saw an increase of up to twenty percent in their closing opportunities and sales.
This figure suggests that following up with aged leads and leads who have been recycled is not a waste of the marketer’s time at all. In fact when it is done correctly, lead nurturing can be a cost-effective marketing tool.
Making a Profit from Lead Nurturing
Lead nurturing refers to the process of building a relationship with qualified prospects. The goal, of course, is to engage the prospect so that when the prospect is finally ready to buy, he or she wouldn’t dream of doing business with any company but yours.
Cost-Effective Ideas for Lead Nurturing
1. Ask the lead how he or she prefers to be contacted. Then, depending on the lead’s preference, make it a point to call, send an email, or text the lead at least once every six weeks. Remind the lead that you are available to help if he or she has any questions about your products or services.
2. Send the lead a handwritten note or card once or twice per year. For instance, you might send the lead a holiday card and a card wishing him or her a happy birthday.
3. Pass on any information you think your lead might find interesting. Include your business card and a handwritten note – “I thought you might be interested in this article since you identified concerns about having enough flood insurance.”
4. Let the lead know if your company is offering a time-limited discount. A deadline can sometimes spur a recycled lead to become a buyer.
Nurturing recycled or aged leads takes only a small amount of your marketing team’s time and energy, but they payoff can be significant. Don’t let your recycled leads fall through the cracks and disappear.