In B2B sales departments, the race to acquire new leads often overshadows the untapped resources of past clients. Engaging with former customers is not just a courtesy follow-up; it’s a strategic move that can save time, money, and resources. Let’s take a look at the undeniable benefits of re-establishing connections with previous clients before venturing into the uncertain territory of cold leads.
Rekindling Relationships with Previous Customers
The first step in maximizing your sales efforts is to look back at your previous customers. If you’re in a service-based B2B company, revisiting these past relationships can reveal a wealth of opportunities. By re-engaging with clients who already understand the value of your services, you reduce the time and effort required to build trust and explain your offerings. If the experience was positive, these clients might need further services or can act as a valuable referral source.
Sending emails, messaging on LinkedIn, and making phone calls ensures that you’re efficiently reconnecting with these valuable contacts. While you’re reaching out to previous customers, it’s also important to assess and update your existing client contact information. Outdated information, generally older than two years, can hinder re-engagement efforts.
Reviving Potential with Unclosed Clients
It’s common to overlook clients who showed initial interest but didn’t close. These unclosed clients are already familiar with your business and might now be better positioned to engage with your services. Focusing on these potential clients can be more effective and resource-efficient than acquiring new leads who are unfamiliar with your brand. Additionally, understanding the reasons why they didn’t close initially, whether due to timing or choosing a competitor, can inform improvements in your service and content strategy.
Leveraging Referrals and Existing Networks
Understanding the dynamics of how referrals come to your business is critical. Creating tools to facilitate referrals, such as dedicated landing pages, email templates, or referral postcards for events, can significantly boost your referral rate. Engaging with your operations team to integrate referral requests into regular processes can turn satisfied clients into active promoters of your business. Additionally, tapping into the networks of your satisfied clients can exponentially increase your reach and lead generation, all while using existing resources.
Final Thoughts
Reaching out to cold leads might seem like the obvious route for expanding your client base, but re-engaging with past clients offers a more efficient and cost-effective strategy that can yield faster results. By reconnecting with previous customers, reviving relationships with unclosed clients, and leveraging the power of referrals, your business can unlock a hidden potential that lies within your existing network. This approach not only conserves resources but also enhances the overall customer experience, fostering long-term relationships and sustainable growth.
Once your company has integrated processes for re-engagement, broadening the net to colder leads will become a more viable tactic.
