Lead management: what it is and how to reactivate cold leads
One of the most coveted things today by companies is to have a well-nourished database, but the truth is that this does not imply that all the contacts that appear in it are active. The question then arises whether, in this case, quality is also preferable to quantity.
In other words: having a smaller database but with more engagement is more recommendable than a mega list with numerous cold leads. Obviously, the last option is more productive, but we are going to see how to solve or take advantage of the first: when there are many contacts but few are active.
Defining lead management or lead management
Lead management refers to all kinds of contact methods that can occur between leads and a company, in order to get new customers by directing leads to a sales strategy. But yes: although the premise is to get new clients, it is still very important to take care of the ones we already have, and it is possible to combine the two things by applying a good lead management strategy.
To begin with, you have to pay the ground to harvest future leads: the objective is to get the contact email, because it will mean the beginning of the relationship with the client. After obtaining the email, you must try to get others, so that contact is as easy as possible and communications can be personalized: this will improve the process shopping.
As the database grows, it is necessary to control those who are really interested in buying and differentiate them from those who are not, but nevertheless take up space. When it is perceived that the majority of leads do not convert into customers, it indicates that the database is not profitable. The reason? Well, it's very simple: the company's content does not arouse interest. And as a result of this and that the user interacts little with the emails that are sent, these emails arrive as spam.
Less is sometimes more: shrinking the database
When a high number of cold leads or inactive contacts is detected, it is preferable to clean up the database, even if it means reducing their number. Although it may seem dramatic at first, eliminating inactive contacts helps to get a real idea of what the available database is like, and it will be easier to segment it.
It will also save time and money, because the CRM is more expensive the higher the number of contacts: if you have to pay, let it be for those who show interest in the company's content.
By having the best segmented database, communications to contacts can be more personalized, based on their interests and at the right moment in the purchase process.
Steps to segment
First of all, you have to correctly define the buyer persona and create lists in the database that reflect the contacts that are inactive and their characteristics, as well as at what point in the purchase process they were. For example:
- According to period of inactivity
- According to interests
- According to the moment of the purchase process
After segmentation, a strategy will have to be created based on the interests detected to reactivate them, something called “reengagement lead nurturing.” The purpose of these new communications will be to reactivate the lost interest of contacts who no longer interact. The content of these communications has to be based on the phase the prospect was in when the communication was interrupted. And what will have to be done is present a new proposal based on its typology and specific needs.
At the same time, it will be necessary to eliminate contacts that do not meet the minimum engagement criteria. After these two actions, the results will have to be compiled and analyzed, and if after some time and despite the reengagement lead nurturing, there are contacts that still do not interact, they will have to be eliminated as well. Because what is most interesting is an optimized database, even if it is smaller, but which helps to get clients.
In all cases, it is worth stopping to observe the state of the database and the relationship with the leads. And from there, come up with a strategy to wake up the sleepy leads, and discard those that there are no possibilities to activate. Do you need a cable to create it? Consults.