Lead Retention Made Easy! Activate Cold Leads with Calculators
What do you do when a lead turns cold or expires? Do you yawn and forget about it?
Imagine if you get 1000 leads in a month and 100 of them expire. Not a big deal, you may think. But wonder if this happens month on month. By the end of the year, you’ll have 1200 cold leads, which is near about a month’s leads! Now, will you still want to forget about these? Lead retention remains one of the biggest challenges for marketers.
Cold leads ≠ Lost Leads: Your Lead Retention Strategy
Expired leads may seem like a mountain of missed opportunity. But in reality, they can unlock a large amount of additional revenue for your business. How? The answer is lead reheating through calculators.
Proven lead generation tools, calculators are equally effective when it comes to reactivating cold leads. They add value to your prospects by answering important questions for them. Besides, they are highly engaging. Our data shows that 88% of people who start a calculator, finish it! This means that you can easily turn the cold leads towards the sales funnel without having to work on over-the-top sales pitches.
5 Ways Calculators Can Help You in Lead Retention
They Spell Personalization
Calculators can talk to the lead. As a part of the calculator design, you can ask for customers’ names and then personalize questions as “Hey Joe, what is your age?” Besides, calculators give outputs and insights that are meant only for a lead. This makes the lead feel important, and they are more likely to contact you than not. In fact, marketers have seen an average increase of 20% in sales after using personalized web experiences.
They Are Interactive
People prefer finding solutions themselves through a tool than a salesman or a blog blatantly selling them a package. Calculators are attuned to this human psychology. They interact with the leads and immerse them in a digital experience. You end up providing value to your leads in an unobstructed way. This, in turn, helps you grow user engagement. Consider what HubSpot is doing. Instead of using cold emails or landing pages to sell their inbound marketing software, they are using an ROI calculator. It simulates the potential return on investment that prospects could realize by conducting inbound marketing with HubSpot software.
They Provide Instant Gratification
Calculators are all about instant gratification. Your leads get value out of it instantly. They don’t need to navigate anywhere or scroll or worse, wait for next “24-48 hours”. This makes your leads more inclined towards using this tool and exploring about your product/services.
They Help Leads Move Forward
Once a lead has used your calculator and is in dialogue with you, it makes sense to move forward to a sales meeting. However, it can save both you and the prospect a lot of trouble if he/she already understands your product/service. You can use a calculator for this purpose. Price calculators, saving calculators, comparison calculators, and ROI calculators are ideal for this stage. Talari Networks’ savings calculator is a great example. It tells the prospects how much they can save after transitioning from MPLS WAN to a hybrid WAN. The results are shown in the form of comparison, which aids prospects in decision making.
They Aid Lead Nurturing
In order to get a genuine result, your leads, more often than not, will fill in genuine data. This opens up awesome possibilities to really make your sales extremely targeted and help you in nurturing the leads further.
You Can Use Them Too!
Make calculators a part of the lead nurturing journey. You can simply link an email account to a calculator and code the calculator in a way that you are notified on the linked email every time a prospect uses the calculator. This will turn the list of cold leads into a new list of hot leads who deserve time and attention!
Pratham is the co-founder of Outgrow. He spends most of his time meeting with marketers and helping companies with interactive growth strategies. Have a question, facing marketers block or just curious about his life? Feel free to email him at firstname.lastname@example.org. He will respond 🙂