When you hear the word lead, what usually comes to mind? It’s not uncommon to hear the words cold, warm or hot when you talk about leads. There is a lot of information out there explaining how to identify leads. But, why is it necessary to set the three apart?
There are four things you need to understand when the topic “sales lead” comes up:
Why do you need to differentiate your leads?
How can you distinguish one lead from the other?
How do you nurture/convince cold leads?
And finally how to convert a lead into a sale?
Separate the Interested from the Visitor
Examining your website visitors and differentiating those who are interested in buying now, or in the future is crucial to increasing your ROI. Spending time and effort to sell your product or service to someone who is not yet interested, is inefficient and unproductive for your organization. Instead, nurturing them is more worthwhile.
So, how can you tell which is which? Doing something like perceiving how a customer or visitor behaves in your site is exhausting. You’re not Nostradamus, and you certainly don’t have special powers.
But, with the help of a tool called Marketing Automation, you will be able to tell the two apart (miraculously). An automation tool will show you who wants to buy and who don’t want to purchase anything, using website activity tracking.
The Power of Triggers
With the use of triggers and actions, you’ll be able to separate Bill Gates from Mr. Bean just by looking at what they do when they’re inside your website.
These activities range from what they download, to what page they go and even what button they click. Marketing Automation also makes your sales and marketing teams job easier by avoiding repetitive tasks and creating a clear path within your sales funnel.
Spotting the Cold Lead From the Hot
How do you gauge which actions are done by people who are just passing by your website and those who want to buy? A determined buyer, a.k.a hot lead, knows what they want. So, this means that if you own a site selling computers, a determined buyer will go immediately to the products section to gauge the price and then make the decision to buy from you.
Hot (Carolina Reaper) Leads
These leads as portrayed in the situation above is the type of lead you want, mainly because they equate to possible sales.
A hot (Carolina Reaper) lead has the following characteristics that tell you right away that they are interested in buying:
What he/she wants (product/ service)
Has a budget for the product/service
Looks at the prices
Subscribes to your newsletter
Downloads your content
Asks questions about your product
Hot leads know what they want. When they visit your site, they usually check out your products section as soon as they visit your site. They tend to click your product selection and check out the price of the product you’re offering.
Cold (Iceberg) Leads
These leads are somewhat interested, somewhat not. They may contact you and talk about the details but never make a purchase. They can also be the casual visitor who looks at your site, stays and browses for a little while then leaves.
Here are some of the characteristics of a cold lead that you should take note of:
Unsure/undecided of what he/she wants
Doesn’t have the budget for the product/service
Just window shopping (for possible future purchase)
Doesn’t open your newsletters
Asks questions but doesn’t follow through
Sometimes not the decision maker
Unsubscribes to your site/ newsletter
Deletes your emails without reading them
No clear intent when browsing your site
The above mentioned are just some of the actions that tell you – they’re not really interested. With careful observation of using a Marketing Automation tool, you’ll be able to note other actions that will help you identify a cold lead.
How You Can Nurture a Cold Lead
Cold leads aren’t really “wasted” leads. Don’t be discouraged if you got a lot of “Icebergs” when you’re doing lead generation. Think of these leads as crops waiting for proper pruning and attention. In the future when you nurture them right, they’ll yield that sale that you want. How do you properly nurture a cold lead, so they become warm and ready for purchase?
4 Easy Steps To Warm Up a Cold Lead
Make them the Center of Attention – customize your emails to be about them. One sure way to grab their attention (and stop them from ignoring your emails) is making them feel that the emails you send are about them. Here are some things that you can do to make them feel like a star:
Use their name
Make it short
Use casual language
Don’t use sales talk
Give something in return – everyone loves getting free stuff, so when you’re sending out, your emails make sure to include something that would convince them to open your email. When we say free stuff, we mean giving them something totally free without charging cost or sending fee. You give out noteworthy coupons or discounts not junk that they’ll have no use for.
Send Relevant Updates – don’t send emails or share posts that contain news about your business, because frankly, they don’t care. Your emails should be about relevant content, discounts, and great deals – the “What’s in it for me” factor. Email content that’s filled with juicy details that they can share with their family and friends.
Try forming a business relationship – if you have their number, contact them. It’s better to give out discounts and freebies verbally than written. Establish a good impression, make them feel that you’re trustworthy and that you’re not just after their money.
Remember, nurturing is a gradual process it’s like a slow-cooker which takes time to cook. Lead nurturing isn’t a microwave process.
How to Turn Your Hot Leads into Buyers
Transitioning from sales lead to prospect doesn’t happen by magic. Sure, your hot leads may have the money and intention to buy, but if you don’t push them to buy, then they will go to your competitor.
You can prevent your hot leads from buying from someone else using the simple steps below. These steps will help you direct your hot leads down the sales funnel.
3 Steps to Land that Sale
Contact them regularly – chat with them, send them emails that build up their anticipation for your product. Once you’ve formed a good enough relationship base, you rest assured that they won’t go to your competitor.
Highlight your USP (Unique Selling Point) – make them see the benefits of your product/service using your emails and promotional materials. When you’ve reinforced the value of your product into their minds, then you can effortlessly make that sale.
Give a discount/deal – who doesn’t like discounts? Considering that they have the budget, offering the product for less than what they expected will push them to make the purchase.
After the sale, make sure to give excellent customer service that way you can transform a single purchase into a lifelong customer.
You don’t need out of this world prospecting skills to influence the behaviour of your lead. With the use of a Marketing Automation tool, you’ll be able to spot your Iceberg leads from the Carolina Reapers.
By separating your cold and hot leads, you can focus more on what each lead needs, nurturing for cold leads and closing sales with your hot leads. You can increase your business productivity and improve your ROI without exhausting yourself. Marketing Automation can help you do all of this.