You have a goldmine of new business simmering in your cold (and old) leads. So, how do you access all these future sales?

In this week’s episode, we share with you three keys that can help reactivate those old leads and convert them into clients in no time flat.

1. What is Cold Lead reactivation? We discuss the 2 categories of leads to target.
2. Why does it? There are 4 reasons for reactivating cold leads. Watch the video to check them out.
3. The keys to reactivation. To be successful at this, watch the video for the 3 things you need to do.

Watch the full video below to know how you get them on board with your message.

Try Builder Lead Converter right now and see how we plug your opportunity leaks, capture leads, book appointments and help you increase your average sales price and margins. The only thing you have to lose is sales.

Transcript:

Rick: Welcome to Conversations that Convert. In today’s episode, we’re gonna talk about the Art of Cold Lead Reactivation. So let’s get started.

Welcome to Conversations that Convert. Every week we’ll spend about 10 to 15 minutes tackling relevant lead generation, marketing, and sales topics for remodelers, home improvement companies, and home builders. Conversations that Convert is brought to you by Builder Lead Converter, your perfect sales assistant. And now here’s Rick and Daiana.

Rick: Daiana, how are you doing today? 

Daiana: Doing great. Thank you. And how about you?

Rick: Oh very fine. Very fine. And for those of you that are live or watching the replay of this welcome and as always if you have a comment or a question please enter it below the video here. Say hi. If you hear, you’re listening to us, let us know you’re here. And again if you do leave a question or comment we’ll use another feature episode. We will make sure that you get credit for it. So what are we talking about today Daiana?

Daiana: Today we’ll talk about cold leads and how to reactivate them. And this is part one. So it seems that we have a longer talk around the cold leads reactivation.

Rick: We putting together our show notes earlier this week and we’re like You know what? We have quite a bit of stuff to go through here. So we decided to break it into two, two episodes. And where I wanna start off is I wanna look at, you know, really what is cold lead reactivation? And quite honestly guys, business has been so good for, you know, well over a year now, and probably due to the pandemic and a number of other things, is that a lot of people haven’t had to reactivate cold leads. But we’re, we’re shooting this here at the beginning of September. You know, the market has maybe flattened out a little bit and taken a collective pause. We’re not sure if we’re gonna keep going at the heated pace we’ve been at. I know a lot of you have work in the pipeline probably through, you know, the next three months, maybe six months. But we always wanna look at and say, you know, what are the best practices that you should be doing regardless of what the market is doing? And so cold lead reactivation, it broke down into two things. So number one is we’re gonna revive, revive leads where you lost contact. So those leads where things are going well and all of a sudden, they ghost you. You don’t know what happened. And the second, the second reason we do this is that we activate leads that you never had an opportunity to engage. Never got into a conversation never got into a deep deep, I should say understanding of where the leads coming from and the type of project they’re interested in that, the timing, that sort of thing. So we reactivate cold leads. So really the question is why? Why do we do this? Well, there’s you know, there’s, there are several reasons. Number one is you wanna get the most bang for your buck. So your lead acquisition costs you, want, you know, the more leads you get the lower your average cost per, per lead. So we wanna keep that as low as possible. Number two, long-term leads do have the best profit margins. So while we all want the phone to ring or for that e-lead to come in and we’re, we’re, we’re doing the project for them, you know, within a matter of, of weeks. That’s typically the exception to the rule. The rule is normally you have a longer-term relationship with leads especially when it comes to planning a home or planning a renovation project for those of you that are doing design-build stuff. And, we understand this is that the longer the relationship with them typically the higher the profit margins. So Daiana you had something you wanted to share when it came to this.

Daiana: Sure. I think it’s important to pay attention when, when, when you choose that from my own experience. How do they show up and how do they present themselves? If they, if they show you the showroom, if they come with some samples or they just say, “Okay, let’s get started then we are the expert, and just trust us. We will do, we’ll do the work with you not knowing what’s happening as the, as the owner of the project.” I hope this, makes sense to me. It makes sense that it’s, it’s important to trust the builder and the, and know that he’s going to do what I need and a good job for me.

Rick: Yeah. And that trust, that trust takes time. Now you’re remodeling your home right now. You ended up picking a remodeler that your neighbor used. 

Daiana: Yeah.

Rick: And I think you told me that you walked across the street to look at his, at his work, and then what else happen? 

Daiana: Yes. And then I asked for his number and he came immediately. So he, he replied immediately, and then he didn’t jump into, “Okay let’s get started” like, like every, every other constructor, the deed. So he said “Okay let’s talk and see what you want. What are your needs?” And then, “Okay let me think about it and come back to you.” So, it was a long process of discovering and finding why. So, he took a lot of time to find out why am I doing it and what do I want and what’s the final purpose of the project and what are my expectations? So, I felt hurt and listened and I felt important.

Rick: And, the longer term relationship you have with a, with a, with a lead. The more opportunity they have to get that referral. You know, because your number one converting source of leads is gonna be a referral lead whether it’s client based or professional-based. So that’s another reason why we wanna reactivate cold leads is that oftentimes even though the time you may not initially be right which is the third reason why we, why we do this, it’s too early they’re in the research process but when you have three or more months to engage with a lead and be able to establish that relationship. You give them plenty of opportunity for them to talk to somebody that you’ve done business with and that is the key to really getting them on board and also making sure the profit margins are where you want ’em to be. The fourth reason is, you know, why we do cold lead reactivation is sometimes life events get in the way. You know, you’re starting, somebody thinks they’re gonna jump into something, and then all of a sudden this happens and it gets delayed. Now it gets put in the back burner off the front burner but, they are gonna come back at some point in time. And then you wanna still be top of mind to be able to, to be able to get that job. So the keys to reactivating leads, you talked about it already a little bit, Daiana. But promptness of initial follow-up is key number one regardless if they’re gonna do the project now or three years from now. Are you wanna make sure you are prompt with your follow-up and your response to their initial inquiry? Number two is consistency. Now we’re gonna talk about this in the next episode about how to be consistent and different, different tools to use for consistency. But you have to be consistent so it’s not just one phone call, one text, one email, one, you know, face-to-face meeting. It’s you gotta be consistent over time, especially for those of you that are doing higher-end, end projects. And then finally it is thoroughness and thoroughness you talked about it already as far as trust and confidence but Daiana, you know, I’m gonna put you in the spotlight here. You are a consumer right now. You just hired a contractor to do some work with you. What were some things that the person you hired did as it relates to thoroughness that maybe some of the other people you interviewed did not do?

Daiana: Well he was not in hurry and he suggested that maybe it’s good to start small and to just see if I’m, I’m okay with the quality of the work that he’s delivering and if I’m okay and I like the work, how he’s working, how he’s showing up with his, his, his people then we can sit down and think about maybe some other activities that we can do together. So basically he didn’t offer to do everything in one month. 

Rick: Mm-hmm.

Daiana: And plan in advance. He said Okay let’s start small, do something and see how things are going. If we connect if we have if you are happy with the work and then let’s sit down and plan in advance maybe for the next year or, and, and do them in a very structured way.

Rick: Yeah. 

Daiana: And so it’s a, it’s a, it’s a name for that. So,

Rick: Phasing.

Daiana: Yeah

Rick: Phasing. So when you’re remodeling and somebody wants to do a whole home remodel but the budget gets in the way which essentially it always does, is to be able to phase things out. Here, one of the things that I really recommend from a design standpoint is that, if you’re gonna design something to build it and it’s a large remodeling project, if the client does not have the budget to do it all right away, what you do is you give them a discount to design everything right away and then go ahead and put together a phasing schedule that might last for five years. So what you’re doing is you are creating a client for life. So you’d spend five years remodeling that master plan you put together. You control it obviously. And then they’re, instead of them looking for a bid, they’re gonna call their remodeler. And, and, and that is, and that is you. So that’s exactly the approach that your contractor took just to move you more shifting, more to a phasing plan which then makes it attainable. And of course inevitably what happens is that sometimes, sometimes it’s just a matter of accepting what things cost and that just takes time to sort of process that. And you thought it was gonna cost this much. You found out it’s gonna cost this much. And then there’s that gap that you have to bridge. So if you have the funds to do it or if your client has the funds to do it, just take the time to phase it out and plan it and be thorough with the planning process. Oftentimes, we’ll bring them up where they’ll say, “Ah, you know what? We might as well do it right now instead of having our life interrupted, you know, three or four times over, over five years. So those are the three, three keys, promptness consistency, and thoroughness. That’s the key to reactivating cold leads. Now for those of you that are new to the show. Thank you for joining us. Thank you for watching this. We do have a tool that you can plug and play. Call our lead connector and this will plug your opportunity leak. It eliminates interruptions and it helps you stop wasting time chasing bad leads. You can try that tool for free for 30 days. See how many leads we can capture and what appointments we can book for you. Just click on the link right down below and get yourself signed up and let’s give it a, try. Go ahead and kick the tires. So next week Daiana we’re gonna come back and talk about phase two are part two right? Of the arch of reviving cold leads. 

Daiana: Absolutely. Looking forward to part two and seeing if there is part three or four. 

Rick: I think we’ll edit that part two with this but we’re gonna get into timing when you do it. We’re gonna talk about the tools you use and then we’re also gonna talk about different types of cold lead reactivation. So that is all for today. Thank you so much for joining us and for my brothers and sisters in Christ may the grace of the Lord Jesus Christ the love of God and the fellowship of the Holy Spirit. Be with you all. We’ll see you next time. Bye-bye. 

Daiana: Take care. Bye.