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July 2003
THE BEST WAY TO QUALIFY EXISTING LEADS
The explosive growth of sophisticated e-marketing and marketing
automation tools means that, for the first time, even small companies
have the opportunity and capability to engage in an ongoing dialog
with new leads. No longer do companies need to rely on telemarketing
or other, more expensive methods in order to further qualify those
leads and, hopefully, move them along the path towards closure.
As ever, this new technology is simply a tool and little more, one
that can either help maximize the value of incoming leads, or
quickly dismantle any goodwill the prospect feels towards your
company. As simple as e-marketing products make it to broadcast
millions of very attractive HTML messages with merely the click of
a mouse, they also make it easy to abuse the privilege of e-mail
communication.
We've seen clients barrage new prospects with an onslaught of
e-mails so thick that soon, and inevitably, most of the database
"opts out" and the client is forced to rely on direct mail for any
kind of ongoing communication. Other companies are misguided
disciples of the old advertising adage that people need to see your
message 7-8 times before they respond, so they implore the prospect
to buy over and over again, with little or no success, and regardless
of the nature or complexity of the sales cycle.
The best strategy for using e-mail to qualify, nurture, and manage
existing leads is one that takes into account price point, sales
cycle, and a myriad of other factors. Here a couple of simple
guidelines to bear in mind:
- if the price point is such that your product or service could
be considered an impulse purchase, then a carefully coordinated
series of "buy now" offers can be appropriate and effective.
Because even slight increases in response rates are so critical
for low-end products, be sure to test as many variables as
possible - for example, sequence, timing, and number of
messages, as well as different offers (discounts, product bundles,
free gifts, money-back guarantees)
- if the price point or complexity of your product is high, then
discounts, free trials and other "special offers" will do nothing
to move all but the most fervent prospect along the sales cycle,
and probably will end up alienating most potential customers.
For complex products, focus your lead warming process less on moving
the prospect along the sales cycle, and more on immediately
identifying those prospects whose needs change or amplify to where
they're ready to take the "next step". Keep in front of those
prospects using educational content and other information of value
(perhaps in the form of an e-mail newsletter), and weave in offers
like white papers, ROI worksheets, Webinars, and other incentives
that signal a renewed interest in your product.
For a more in-depth discussion on lead management and how to maximize
the value of existing leads, see our white paper on "Lead Recycling:
A More Cost Effective Approach to Marketing Strategy for High-Technology
Companies." Download your free copy at:
http://www.connectdirect.com/request/whitepaper.html
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