You’re probably already familiar with the five different kinds of marketing automation campaigns, but just for a quick refresher, let’s re-visit them, shall we?
- Introductory: These are the campaigns that are deployed to people who are new prospects. Introductory campaigns set expectations on what prospects can expect from you as they receive your communications and deepen their relationship with your brand.
- Engagement: These campaigns are designed to keep prospects involved and engaged with your brand as you move them through the sales funnel.
- Re-Engagement: These campaigns are designed to get lapsed prospects to kick-start their relationship with your brand. (We’ll come back to re-engagement campaigns in a second.)
- Promotional: These campaigns aren’t designed to build relationships as much as they’re designed to sell. By the time you’re using marketing automation for promotional purposes, your prospects are at the bottom of the sales funnel and in a buying mode.
- Retention: What do you do after you’ve converted a prospect into a customer? You send onboarding, upsell, or renewal campaigns, all of which fall under the retention
Since the focus of this blog post is about warming up cold leads, let’s dig a little deeper into item #3 above – re-engagement.
Why is re-engagement important? For one thing, the majority of people who sign up for your marketing automation campaign won’t become customers. You heard right. On average, for every 100 people who sign up for your campaign, only 1 or 2 of them will become customers. (There are always exceptions to that, but in most cases, your conversion rate will hover around 1% or 2%.)
Here’s something interesting to think about — what would happen if you were an e-commerce company and improved your conversion rate from, say, 1% to 2%? How would that impact your bottom line? Here’s how – it would increase your revenues by 100%. You heard right – 100%, just by optimizing the conversion rate from 1% to 2%.
Not bad for a day’s work.
So then the question becomes “What do I have to do to improve my conversion rate from 1% to 2%?” Good question. And that’s what we’re here to talk about today – how to use re-engagement campaigns to improve your conversion rates.
Turning lapsed prospects into warm leads
Okay, now that we understand the impact improving your conversion rate can have on your business, let’s focus some attention on ways that you can accomplish that goal.
Remember, your goal in this exercise is not to look for new prospects, it’s to take existing prospects who are no longer engaged with your brand and turn them into warm leads. After all, once a prospect becomes a warm lead, it becomes much easier to turn them into an actual customer.
With all that in mind, here are some techniques you can use to turn a lapsed prospect into a warm lead.
- Apology Campaigns: Yup, you heard right – apologize. For what, you might ask? Anything. The goal is to catch people’s attention by being humble and kind. When you apologize, you humanize your brand, which is a good thing. You also connect with people on an emotional level by using the simple phrase, “I’m sorry.” If you think about this approach long enough, you’ll come up with something to apologize for, but one of the easiest things to do is to apologize for the fact that they’re no longer engaged with your brand. In other words, you can send out a campaign that says, “We’re sorry. We’ve noticed you haven’t clicked through on any of our e-newsletters lately. Is it something we’ve done? If so, how can we make it up to you?” You’ll find that that kind of honesty and humility can re-engage a good number of lapsed prospects and turn them into warm leads.
- Hyper Personalization Campaigns: In its simplest form, a hyper-personalized campaign uses to the prospects name in the subject line. By using something like “Hi [first name]. I have a question for you,” in the subject line, you’ll see an uptick in your click through rates right away. But you can go a step further – you can personalize by name, and by geographic location. Just create a segment of your list based on the contact’s location (e.g., the U.K, Africa, London, etc.) and personalize your message by saying, “Hi [first name] — We have a special offer for people in London. Are you interested?”
- Special Promotion: Of course, one of the easiest things you can do is to provide a discount on your product or service to lapsed prospects. Here’s a good one – if you’re a software as a service (SaaS) company, offer lapsed prospects a 30 day free trial as a way to re-engage them. Or, if you’re already doing a 30-day free trial, you can provide the first month for free. You get the idea – just offer them something that’s not widely available to other prospects.
- Disengage: This may seem counter-intuitive, but by sending them a disengagement campaign, you can often get people to re-engage. What do I mean by that? A disengagement campaign says, “We noticed you haven’t clicked through on one of our emails in over 12 months. We regularly clean our lists up and delete contacts who haven’t engaged with us in a while. Should we delete you from our database? If not, just click here so that we know you’re still interested in hearing from us.” This is a last resort technique, but sometimes it’s worth executing.
A final thought
I’ve covered a lot of ground here and have provided some great tips, but here’s the biggest tip of all – take action on what I’ve shared with you today. After all there’s no point in learning something new if you aren’t going to put it into practice, right?