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Aged Leads - Old can be Gold

Round Table Topic: Expert Advice on Leveraging Your CRM System to Survive This Economic Crunch

Jason Kort, Director of Marketing, SoftVu

Jason Kort addresses this month’s round table topic: Expert Advice on Leveraging Your CRM System to Survive this Economic Crunch”. Jason points out that aged leads have a lot of value that can be tapped in adverse economic situations.

A recent study of 100,000 aged lead survey responses across 38 different lending clients, reveals that 60-70% of aged leads remain viable after the second contact—some beyond even six months after applying online.  The typical practice of not following up with leads after one or two contacts—not nurturing leads effectively—means you’re throwing away 60-70% of your total investment in leads.

Forward-thinking companies are relying on marketing automation strategies to get the most bang for their buck.  These can include as few as four simple automated campaigns or as many as 35 campaigns over as many months. Email communications range from video messages, eCards, landing pages and surveys.

Marketing automation technology can dynamically add sender images, voice, video, contact information and other personalized content to humanize campaigns. Messages in campaigns flex based on customer preferences (such as product, credit status, geographic location, etc.) and are integrated with a CRM solution. View notifications alert the sender so they know exactly when the customer is viewing their communications and when to call.

The ability to increase contact rates through real-time view reporting, message tracking, analytics and business intelligence reporting that integrates with a CRM, companies get a full view of the sales cycle and are able to reach out to aged leads and continue nurturing all the way to close.

Now more than ever before, marketing automation can help businesses get value from aged leads they otherwise may never have touched. This allows you to stay in front of the customer from day one to closed sale and beyond and be well-positioned to continue to nurture customers for life.