Welcome to the latest edition of our new weekly blog series, Market To Mondays. Each week, we will introduce you to a new group of people you should market to. We’ll tell you who they are, why you should market to them, and how you might get started.
Last week’s group was The Press.
Today’s Group = Unconverted Leads
Does your company generate leads? Do people give you their information before they actually sign up or purchase your products? Do you buy lists and sell to them? Is there an application process that precedes a new customer acquisition?
If so, you probably have a standard lead funnel that most of those leads progress through on their way to ultimately purchasing your product. This is the sales funnel. And the nature of funnels is such that not all leads make it through to the end.
It would be wonderful if they did. But since they don’t, unsold or unconverted leads become an audience of people you can market to.
You may argue. You may say, “But they made it all the way through the sales funnel already and they didn’t bite, so why would I continue to waste my time marketing to them when I could be trying to sell to newer, better leads?”
You’re correct. These are clearly lesser leads than those in the sales funnel now. But if you can develop some very simple, low cost ways of following up with the old leads, you can increase your sales in a big way.
Email is your best bet in this selling scenario. The easiest, least time-consuming, lowest cost thing you can do is place all of your unsold leads into an email list. Call it “Old Leads”, or “Crap Leads”, or whatever you want to call it, as long as you have it.
Once you have it, and you begin to add those folks in who didn’t bite, start creating content for them. This content should be very basic, and your intention is to just keep in touch with them. Don’t let them forget who you are, and that they were once interested in what you had to offer.
Then, mix in your discounts. Any discounts you have in your back pocket, use them. These folks might be some of your most price-sensitive, so by taking more off the price than you might with your newer leads, you may sign some of them up as customers.
At the end of the day, it costs you next to nothing to run this type of email marketing program. So if it adds a few sales you might otherwise have thrown in the trash, why wouldn’t you do it?
What group should we cover next? Now accepting submissions for audiences that we will cover in an upcoming “Market To Mondays” post. Submit your ideas via our contact page or in the comments section below.