Hi Joe,
I’m curious if there’s ever a time when it makes sense to reach out to closed lost opportunities.
Our team just launched some new features, and it seems like a waste not to reach out to people that we’ve engaged with in the past.
What do you think?
Thank you,
Intrigued Ivan
Ivan, you hit the nail on the head.
Sales and marketing teams put a lot of effort into acquiring leads and this isn’t a cheap process.
Collecting all that information, categorizing it, and maintaining those records takes time and resources.
The main thing to remember with closed lost opportunities: just because a prospect isn’t interested today doesn’t mean they won’t need your product down the line.
Ignoring your closed lost opportunities means leaving out a big part of your audience when you have a new feature or flash sale to promote.
Categorize your opportunities
There are many reasons a prospect might drop out of the sales process:
- no need for your product/service at the time
- budget limitations, or
- a desire for features you don’t offer yet.
A good practice is to sort these closed lost opps based on the constraints that stop them from making a purchase.
Once you have your subcategories, you create a customized re-engagement approach for each type.
With more focused communications and programming, you’ll have a more meaningful way to reach your prospects, which can go a long way to closing the deal.
Dos and don’ts
When re-engaging a closed lost opportunity, you want to ensure they have a net new experience with your brand.
Don’t do this:
You do not want them ending up in the same campaigns, reading the same materials, or hearing the same sales pitch they didn’t respond to the first time.
Do this:
There was a reason they were closed lost before. Make sure that the content and information they’re receiving are fresh and new (to them).
- Make sure the marketing team knows how to treat these returning leads. They should have distinct nurture campaigns with content focused on a recent product feature or the low-cost nature of the product.
- Make sure the sales team knows that the lead has been a closed lost in the past. Learn why they dropped off and what could bring them back. This information should be available on your CRM system.
Don’t do this:
Rely on only one channel to re-engage a closed lost opportunity.
Do this:
Some people prefer email because it is less intrusive. Other people prefer phone calls for efficiency.
The benefit of phone calls is that you create a human connection, which can go a long way.
The benefit of email is that you can take a customized approach and incorporate insights from past engagements.
You can also pair email with a paid media strategy. Run social or search ads that reach people who have engaged with your brand without converting.
Bottom line: Re-engage
These tactics will take some time to set up properly. Once you have them in place, your team will be proactive and targetted as they reach out to closed lost opportunity.
Need some help setting up the groundwork? Give us a call or email (whichever you prefer).
And remember, you’ve got this,
Joe Pulse
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