What are unconverted leads and why they are important in B2B marketing?
An unconverted lead is somebody who has contacted you and shown interest in what you have to sell, but they have not bought yet. We call them ‘leads.’ They’ve either contacted you via your website, or called you by phone, or emailed you, or come into your premises, or made some kind of contact with you or expressed interest in what you offer, but they have not followed through and bought yet.
The big mistake many people make is assuming that because somebody doesn’t buy from you today, this week, or this month, they’re never going to buy from you. It’s a mistake that could be costing you a real fortune.
Why do we give up on potential customers so fast? It makes no sense at all. You know from your own behaviour as a consumer that you might first enquire about a product or service weeks, months, or years before you decide to buy.
Just think about it – before you spend anything on getting new customers, it is insane to not go to the people who’ve already raised their hand and told you they are interested in what you sell.
In times of financial uncertainties like we’re in right now following the Covid-19 crisis, it’s also very important that you find ways of getting customers that don’t cost anything. We call that
“Marketing for Free”
It costs nothing to email or phone call all of your unconverted leads from the last couple of months. You will be surprised at how many lead to a sale.
When your accounting team does your returns every year, they will talk to you about the ‘assets’ in your business. What they don’t realize is that one of the most valuable assets you have is your unconverted leads. They are almost certainly worth tens if not hundreds of thousands to you. So don’t wait – go and mine the gold!