In our blog Holidays? By all means but not for lead gen! we highlighted the opportunity to use possible downtime to review leads generated from previous marketing activity and begin to build nurture campaigns. Old marketing leads can still have potential for ROI if they are properly managed and nurtured. Sadly many businesses often overlook the value of old leads in their pursuit of new ones, but neglecting old leads where interest has been expressed in the past can impact revenue growth.
There are good reasons why nurturing old leads can deliver further ROI on your original campaign investment:
1. Cost-effective: Nurturing old leads through to qualified opportunities can be a cost-effective way to generate revenue - the cost of re-engaging with them is usually lower than acquiring new ones. 2. Higher conversion rates: leads that have shown interest in the past are more likely to convert into customers than cold leads that have not yet engaged with your company. 3. Stronger relationships: through nurture you can build stronger relationships with potential customers over time, giving increased loyalty and repeat business. 4. Referrals: Even if old leads do not convert into customers themselves, they may still refer others to the business who could become customers.
To nurture old leads and previous longer-term nurture opportunities effectively, you should have a clear plan in place for re-engaging with them. Firstly, they should be segmented based on their interests, needs, and/or other characteristics that can help identify those that are most likely to convert. This allows you to focus your efforts and resources on them.
Then, using a multi-channel campaign with compelling, relevant content, and following up with a human touch, you can increase your chances of converting old leads into customers. Personalised follow-up calls or emails from a business development rep can help build trust and strengthen the relationship with these old leads. This approach can also provide a chance to gather feedback and better understand the prospects needs - and importantly, understand where they are in their buying journey.
As always, it's also important to track and measure the results of lead nurturing efforts to continually improve and optimise the process. An always-on lead nurture approach over time will certainly deliver an ongoing pipeline of qualified opportunities, as well as building brand awareness.
In summary, nurturing old leads can also deliver additional return on the original campaign investment by providing a cost-effective way to generate revenue, higher conversion rates, stronger relationships, and potential referrals.
We help our clients find needles in their haystacks, we can help you too! Call us now.