There is serious gold in your old, long dead lead base.
I met Patrick Boult and Heather Green the principals of Greenhouse Marketing & Communications at the Marcus Evans Long Term Care CXO Summit in Florida this past July where they were attending as one of the sponsoring vendor organizations. While this event is an amazing opportunity to meet new people and share new ideas, there is just not enough time to have in-depth conversations. A few weeks ago we spent the better part of an hour on the phone getting acquainted.
While not so well known in the United States, they are the premier marketing company in Canada and have recently been focusing on expanding their US presence. As we talked, I was particularly intrigued by a program they have developed to find serious gold in dead and dormant leads.
Boxes and Boxes of Paper
Maybe today rather than boxes of paper, it is names, addresses, emails, phone numbers, and sales notes that have long been tagged as unresponsive, impossible or a lost cause in your CRM. This means no one is working them and for good reason, many . . . most will never have any value and it is more important to focus on hotter more current leads.
Except that . . . some of those leads, in fact, if worked properly would turn into move-ins. Greenhouse created a system that utilizes the service of a number of experts who have the ability to tease out the gold in your old leads. Here is what it looks like:
- These leads are people who are hard to get to. They don’t answer the phone and don’t return calls or emails.
- Using trained experienced experts, they are able to connect with 1 out of about 20 leads.
- Each one of the leads gets at least 3 calls. The callers average 4-5 calls per hour.
- The cost is $45-$50 per hour.
- The bottom line is that it would typically cost your about $4,000-$5,000 to work through 400 leads, which would statistically result in 8 move-ins — a pretty good return on investment.
- They update your records and remove the non-working emails and phone numbers.
What Makes This Work
The thing that makes this work so uniquely well, is that typically when low priority leads are worked in-house it is done by the least experienced salesperson or maybe not even a salesperson, but rather a receptionist who has extra time available. As a result if they are worked at all the probability of having any success is about as close to zero as you can get.
The Greenhouse approach is to contract with highly experienced salespeople who typically work from home and log-in via the Cloud to grab these extra opportunities for you. At the end of the day, their goal is to build enough rapport with these prospects to determine if they have any interest in moving forward. The further goal is to set-up an appointment for the revived prospect to visit the community. Once that appointment is set, the prospect is handed back to the local community salespeople to complete the process.
Are you doing anything to reviving your old leads? Would you do a program like this?