This blog post is for anyone who is looking to improve their lead generation by transforming cold leads into warm leads. You will learn about seven ways of doing so, and much more.
If you are thinking about what is a lead? Stop thinking, start reading!
A lead is nothing but a person or a company(visitor) who has shown interest in a product or a service provided by you. It does not matter if the person showing interest is curious about it or already know what they want.
When this visitor shows interest through an email, telephone or website, you have a potential customer. Lead generation aims to turn that interested person or company into paying customers.
The three types of leads are:
1. Cold Leads
2. Warm leads
3. Qualified leads
These leads want to know more about your products and services and are more likely to convert to customers finally. These leads also need nurturing before they transform into sales.
These people may have shown their interest by following you online or filling up a contact form, signing up for the newsletter, etc.
What are cold leads? If you're asking this question, know that cold leads are those people or organisations who never contacted your organisation or displayed any interest in your service/product and were annoyed or put off by your efforts to get them in some cases.
Cold leads have to be targeted more carefully and over time to generate sales. These are majorly leads that are kept in view most of the time.
These leads are always regarded as better leads since these are people or companies nearing the end of the sales cycle. These people are worth continuing further.
A person searching for a particular item on an online platform counts as a qualified lead since they have an accurate and precise need, making them inquire about an organisation like yours.
It turns out leads turn cold much sooner than you might think, which means there's a high chance you're failing to convert an essential part of the leads you create because you don't react enough.
So, this is why one should not waste any more time and let's get back to how to convert the cold leads into warm ones:
Leads are mainly dependant on the visitor's interest, and it can take just a second for that interest to change. So, one should not waste time converting the lead, and one should go for it.
For example, I wanted to eat Chinese for one minute, but now I am not interested in eating Chinese anymore; that is how fast people's minds change along with their interests.
A qualified marketing lead (MQL) may download a free white paper, whereas a sales-qualified lead (SQL) might request a meeting. They have distinct properties and are likely in a different buying cycle stage.
However, all leads are potential sales leads. To provide an important first impression, you must qualify the lead first. You will not be making sales if you reach out to a lead that isn't ready to buy.
And sometimes, you may even put the leadoff by coming on too firm.
Some organisations prefer to divide their sales team in two, with one part of the team that handles existing customers and one that runs the latest company.
And while the way you structure the team is not the crucial part here, what is necessary is the processes you make, which allows the sales team to work quickly.
And this doesn't just implement new leads but all stages of the sales process. To get started with your internal processes, think about these questions -
a. How can we take the first step; by email or phone?
b. Who will register to contact data?
c. At what point do we make a sale?
d. How do we follow up activities?
Even if you call the candidate within ten minutes of completing a web form, they may not be ready to move to buy the product yet.
They have shown curiosity in your product or service, so don't miss this chance to keep the warm lead while on the phone call.
For example, you can ask them if they want to be added to your mailing list, which will help sustain them when they are ready.
Customer care starts before any sale is made. The company should update the potential buyers, and you should show them that you care, and they are sure to come back to you when they are ready to move to the next step.
The sales pipeline gives you an individual sketch of the candidates you are working on. In the CRM system, you can monitor which part of the sales process the candidates are in and the activities that are done.
Each salesperson and the sales manager can monitor the sales pipeline to get a complete overview.
Let's say your company deals in software that caters to a specific industry. You have a lead list that has a shallow open rate.
Here's what you do.
Organise a Webinar where you give your prospects tons of free information. This information should be so valuable that he still will walk away with life-changing details even if the candidate does not purchase your product.
Webinars are the best way to revitalise a dead list and let them know that you have a solution to their problems, and most of all – you get to GIVE AND GIVE A LOT.
Directly calling out of the blue is not a good way for communicating with potential buyers. One should always be careful so that they don't make a cold call at the wrong time, ruining someone's mood. First, it's always better to send a personalised introductory letter to every potential buyer.
These letters should be provided with the right amount of data, not less or more than required, or things can go off track. So, when you call the lead, you can say it is a follow-up call on the letter sent in the mail.
This makes it a better way of starting a conversation. You should never directly talk about the deal; first, give some details about the product or service talk about the value at the right time.
It's not common to have customers calling you based on your introduction letter.
Still, a well-crafted introduction letter can help put your foot in the door, opening up the opportunity for you to make your initial pitch. When you put together your introduction letter, you only need to include: All of your contact information, including your company name.
For years, ordinary people used to think that salespeople were gifted and were born to sell, but you see, sales are a science, and it can be taught.
The richest salespeople are those that work in a structured and organised plan.
The personal touch is, of course, still vital. But a structured way of doing things can still do wonders.
