When generating leads, it’s nearly impossible that 100% of those leads will produce new clients and guaranteed sales. Prospects that walk away do so for a variety of reasons. Perhaps they bought from a competitor or weren’t ready to buy.
Whatever the reason, these leads may often be a goldmine for future potential sales. So, before you toss aside those prospects that rejected your sales offer, keep in mind the important fact that they showed initial interest. If they showed interest before, it’s likely their interest may spark again.
Since many prospects will not follow through with a sale due to timing issues, it's important to stay persistent. They may not have had a need or the finances at the time of your initial contact, but as time goes on circumstances change.
In fact, approximately 70% of people who show interest in your product will eventually buy at some point, but a majority of them will not engage the first time they're presented with your offer.
Potential clients go through classic marketing phases: awareness of need, awareness of solutions, awareness of suppliers, supplier research, supplier preference, contract negotiations, and finally a sale and then repeat business.
During this “journey,” they may not be responsive to sales calls until they begin to reach the final stages. Most sales close when the prospect is nearing the end of the decision-making process which usually occurs after the salesperson has reached out to a client on multiple occasions, over a long period of time.
Often times a lead will choose a competitor over you. When this occurs, the lead should still be considered valuable and worth following up with. Although the prospect pursued business with another company, never assume the prospect is completely satisfied with the decision they made.
Perhaps the company didn’t hold up to their expectations and now they are looking for a change. Making sure you remain in contact will help ensure that you will be in the forefront of their minds and at the top of their list when they look for a new company to do business with.
Given these points it’s clear that old leads may open doors to new clients and future repeat business. Therefore, it’s essential to maintain contact and build relationships with old prospects despite the first rejection.
Remember that although the competition may have won the client over or the timing wasn't right, circumstances change. Remaining in contact with old leads will ensure that your company will be the first one they call.
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