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How to Turn your Unconverted Leads into Cash

How to Turn your Unconverted Leads into Cash post image

If you have a list of people that have contacted your business in the past but haven’t yet done business with you then I’m going to show you how you can start turning some of those people into extra cash right now.

Unconverted Leads Aren’t Dead Leads

There’s a big mistake that a lot of us make (I’ve made this mistake too, I think we all have) in assuming that if someone isn’t ready to do business with us right now, then they’re not a good prospect and they’ll contact us again when they’re ready.

However, I’m here to tell you that if you’re not regularly keeping in touch with your prospects even if you know they’re not ready to do business with you right now, then the old axiom, “out of sight, out of mind” comes into play.

Most people have such busy lives that they can’t even remember what they wore yesterday or what they ate for dinner a couple days ago.

Do you really think they’re going to remember who you are if they’ve only briefly talked to you for a few minutes several months ago?

Probably not!

Sure, a few might but the majority will not and many of those people will just go searching for businesses like yours online and maybe they’ll find you again, but many probably won’t and you’ll have lost out on the sale.

In fact:

You Could Be Losing up to 85% of your Potential Customers by Not Following up Enough!

While statistics vary by industry, when combined and across all industries, of the people who inquire about a product or service, 50% of those people ultimately end up buying said product or service within 18 months.

However, and pay very close attention here because this next little morsel of information could make or break you, only 15% of those who do buy do so within the first 90 days.

That means 85% of people are going to buy more than three months from now and some will take more than a year before they buy.

Want even more proof that you should focus on the 85% of people who are going to buy later.  That 85% of people are less price sensitive than the 15% of people who are ready to do business now.

How to Convert the Unconverted

So back to that list of people you already have that hasn’t done business with you yet.

The easiest way is to use marketing genius, Dean Jackson’s, Amazing 9 Word Email That Revives Dead Leads.

Here’s how I use it in my web design business:

 Hi [name],

Were you still interested in getting a website for your business?

Sincerely,

Gary

Note:  I use the name of the business when I know it.

But that’s seriously all you need to do to get the ball rolling again.

However, you could also invite them to a class, seminar, teleseminar, or go all Godfather on them and “make them an offer they can’t refuse.”

The important takeaway here is that you need to open the lines of communication again.

Now go dust off some of those old leads sitting in your desk drawer, scour your email for people who fell through the cracks, and start mining that gold.

Gary Ruplinger is a marketing consultant and builds high performance lead generating websites for small business owners. 

About the author: Paper Free Invoices started out as a small blog for my invoicing software business Paper Free Billing but has morphed into something much more useful. I’ve really enjoyed reading the guest articles and speaking with guest publishers so much so I’m always looking for talented bloggers to contribute. If you have any questions or feedback on this article, please find your voice in the comment section, we will try to answer every genuine comment!

Comments on this entry are closed.

  • K Lyall

    I have some work ahead of me now! I am going to go through all of my old leads and try to convert them using your examples. I have just thought they were done and that was that, too much extra effort would really drive them away. I’m just going to do some follow-ups and see how it goes.

  • Phyllis Moore

    This is a great suggestion. The beauty is in the simplicity of it. It doesn’t hurt to ask. Who knows? We might be reaching prospects at just the right time when they need the kind of services or products we can offer them.

    That said, I do like the idea of the added bonus of inviting prospects to an event or giving them something for free as this would reacquaint them with the product/service that the business offers. That gift might be just enough to rekindle the interest they previously had.