As we near the halfway mark of 2022, it’s a good idea to closely examine the marketing qualified leads (MQLs) provided to your sales organization over the past six months. Some qualified leads have likely failed to advance to the pipeline, while others have stalled after opportunity conversion. There may be several reasons for the stagnation, for instance, delayed or lost budget or postponement of projects due to unforeseen and unexpected priorities. Other MQLs have fallen through the cracks because of changes in sales territories, account alignment, and turnover.
Even a single revitalized MQL can have a big impact. Consider this example – a lead development rep (LDR) recently reengaged with an MQL, which sales could not reach and routed back to marketing. The LDR discovered a change in roles had occurred and was able to engage with a new decision-maker. This resulted in the creation of a $711K opportunity, boosting the marketing-generated pipeline significantly.
We recommend implementing a lead revitalization program at least twice a year in which your lead development team reaches out and reengages with MQLs, which have not converted to an opportunity or have stalled within the pipeline. Conversations will discover how situations have changed while establishing new timelines for appropriate next steps. If roles and players have changed within the account, referrals to new decision-makers can be gathered to help facilitate further engagement. Another benefit is keeping top-of-mind awareness of your solutions with decision-makers whose plans are pushed out. Most importantly, this activity will bubble up accounts that need sales engagement right now, jumpstarting your second-half pipeline.
“Adding a lead revitalization campaign has many advantages for our clients. For instance, we are currently achieving 2.15 times higher productivity from our lead development team, resulting in a significant cost-per-lead reduction for one of our IT infrastructure clients. Most importantly, we quickly engage our client’s sales team with accounts that are ready to buy and would have otherwise fallen through the cracks. We love seeing an immediate boost to the pipeline.”Kathy Rizzo, vice president sales and marketing at TeleNet Marketing Solutions
A lead revitalization effort will capture revenue, which could have fallen between the cracks, boosting your return on marketing investment. Contact us today for a pilot sketch to reengage your stalled leads.
Here’s how to leverage lead revitalization as part of your end-of-year strategy.
In addition to running a lead revitalization campaign, here are more tips on improving your teleprospecting results during the summer months.