In the dynamic world of marketing, the pursuit of qualified leads is an ongoing journey. Marketers invest time, effort, and resources into identifying Marketing Qualified Leads (MQLs) that have the potential to convert into valuable clients. However, what if I told you that amidst the rush to filter for the best leads, there's a goldmine being overlooked and that with a few simple steps you could unlock it?
The Conventional Approach
Traditionally, marketing teams strive to qualify leads based on predetermined criteria, aiming to funnel the most promising prospects to the sales team. This approach is sound in theory, ensuring that resources are allocated to leads with the highest likelihood of conversion. However, this also creates a constant need to keep ‘filling the funnel’ so that you can qualify down to the most interesting; an endless, wasteful cycle.
That’s why it's time to revaluate the strategy and consider the untapped potential lingering within those MQLs that are often deemed unworthy too early in the process.
The Goldmine of Overlooked MQLs
So why should you take another look at those supposedly ‘dead’ leads? Well, there are several reasons, but the main ones are:
- Business environments are ever evolving. Whilst that MQL may have not been in a position to progress six months ago, that company could now be in a prime position for a fruitful partnership. Economic shifts, industry trends, and internal changes can significantly impact the value of a lead over time.
- Initial assessments might not always capture the true potential of a lead. The complexities of certain industries or unique business models could result in a misjudgement of fit, particularly when your sales team are pushed to deliver short-term goals. A revisit to previously disqualified MQLs could reveal a hidden synergy that was overlooked initially.
- Sometimes, leads are discarded due to a lack of understanding or miscommunication – it’s often easier to move on that to focus time on dealing with this. Reaching out to address these concerns, taking a longer-term educational view, can transform a seemingly uninterested lead into a well-informed and engaged prospect.
- Client needs and priorities are subject to change. What was once considered irrelevant might now align perfectly with a prospect’s current challenges and goals. Generating an MQL is not a ‘one shot and you’re done’ process, so regularly revisiting qualified-out contacts allows you to identify these shifts and adapt your approach accordingly.
The Re-engagement Strategy
If you’ve read this far, then you clearly agree that this is an area that needs addressing, so what are the ways in which you can do that. I’ve listed 5 here, but this is not an exhaustive list and I’ve saved the best till last (the one that most of your competitors won’t use)
- Data-driven Insights:
Leverage analytics and data-driven insights to identify patterns and trends. Look for signs that suggest a shift in a lead's circumstances or behaviour that could indicate a newfound readiness for collaboration.
- Tailored Communication:
Craft personalised messages that acknowledge the past interaction and provide value. Address any concerns or misconceptions that led to the initial disqualification. Show that you understand the lead's unique needs and how your solution can address them effectively.
- Educational Content:
Share relevant and timely content that addresses industry challenges and offers insights. Position yourself as a valuable resource, demonstrating a commitment to the lead's success beyond a simple transaction.
- Flexible Offerings:
Be open to customizing your offerings to better suit the lead's evolving requirements. Flexibility and adaptability are key when reengaging with MQLs that may have undergone significant changes since the initial qualification.
That’s right – pick up the phone and speak to them! Direct dialogue is the only medium that offers the flexibility to adapt your pitch on the fly. With a human connection, you can gauge the person's interest and needs in real time, allowing you to modify your approach and offerings accordingly, whilst building genuine relationships.
Then take a long-term view and integrate these conversations into a multi-channel strategy. Combine phone calls with follow-up emails, personalised content, and social media interactions. A cohesive approach strengthens your presence, reinforces the value proposition across various touchpoints and provides the basis on which to nurture the prospect to the point that they are ready to meaningfully engage.
In the quest for efficiency, it's easy to dismiss MQLs that don't meet strict criteria. However, the real value lies in recognising that circumstances change, needs evolve, and what may have been true yesterday might not hold true tomorrow. By revisiting and then regularly re-engaging with MQLs, you can uncover hidden treasures and turn what was once overlooked into valuable client relationships.
And by incorporating the human touch into your reengagement strategy, you not only increase the chances of requalification but also steal a march on your competitors that take a digital-first approach.
It's time to mine the gold within your data and transform missed opportunities into success stories!