There’s more than one type of lead.
Your future success depends on your familiarity with them all. This knowledge ensures that you’re taking full advantage of every lead that comes across your desk.
Recycled leads, for example, can be a headache for marketers. Often, cramped associate schedules do not allow time for lead nurturing.
But they may be worth it. Let’s dive into the profitability of recycled leads.
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What are recycled leads?
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.
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 that practiced good lead nurturing saw an increase of up to 20 percent in their closing opportunities and sales.
This figure suggests that following up with aged leads and leads that have been recycled is not a waste of time and resources.
In fact, when it’s done correctly, lead nurturing can be a cost-effective marketing tool that generates serious results.
Make 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, they won’t think of doing business with any company but yours.
You’ve put in the work upfront so you want to position yourself for a sale when the time comes.
Cost-effective ideas for lead nurturing
You know that lead nurturing is important, but that’s not enough.
You must also have a strategy to guide you. Let’s look at four cost-effective, easy to implement ideas for lead nurturing.
1. Ask the lead how they prefer to be contacted
Don’t guess at how the lead prefers to be contacted. Ask them upfront so that you know how to best reach them in the future.
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.
While it’s important to stick primarily to the lead’s preferred contact method, don’t shy away from switching your approach every now and again.
For example, if you generally email a prospect, a short text message that “breaks the mold” may work in your favor.
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. This isn’t likely to result in a sale, but that’s not the point of it.
Your goal is to stay “top of mind” so that the individual will contact you when they’re ready to make a purchase.
Note: a handwritten note or card is always better. Yes, it takes more time, but the impact is much more powerful. If you don’t have the time required, hire an outside service to assist you.
3. Pass on any information you think your lead might find interesting
There are many benefits of doing this.
Not only do you help the lead with the decision-making process, but you also position yourself as a thought leader and authority in your space.
There are many ways to do this, and you should experiment with every option that piques your interest.
For example, send your prospect a handwritten note — with the information you find interesting — along with your business card. This can be as simple as:
“I thought you might be interested in this article since you identified concerns about having enough flood insurance.”
This is more than just a basic check in. It shows that you’re really taking the time to think about their needs. And when you do that, you’re looked upon favorably compared to your competitors.
4. Let the lead know if your company is offering a time-limited discount
Recycled leads are often on the fence about whether or not to make a purchase. Communicating a deadline may be just what you need to push the person in the right direction.
You could send a simple email like this:
“I know you’re interested in saving money on your auto insurance policy. We have a new program that may allow you to save up to 27% on your premium, but the deadline to apply is [date].
It’s not overly forceful, but it may be just enough to put the lead on the fast track to making a purchase.
Remember this: Nurturing recycled or aged leads takes only a small amount of your marketing team’s time and energy, but the payoff can be significant. Don’t let your recycled leads fall through the cracks and disappear.
Where to find recycled leads
Does all this talk about recycled leads have you excited?
Are you ready to revamp your approach to lead nurturing to take advantage of once promising opportunities?
Is it time to add more recycled leads to your pipeline?
If you answered yes to one or more of these questions, Aged Lead Store can help.
We’re a leading provider of aged leads that need a little bit of nurturing. With our system, you can browse, filter, and instantly download from a large selection of online leads. If you’re ready to get started, register for an account and place your first order.