We scan new podcasts and send you the top 5 insights daily.
Salespeople often abandon deals that don't close and never return. Leaders should create a systematic process for revisiting this goldmine. Build and assign specific lists of inactive customers and deals that were lost months or years ago, as their circumstances have likely changed.
A significant portion of lost deals are unavailable for reasons that are no longer valid (e.g., a missing feature that's now built). Systematically analyzing win-loss data allows sales teams to re-engage specific cohorts of lost accounts with targeted, newly relevant messaging.
Before chasing new leads, focus on monetizing your existing customer database. This is the quickest way to generate a significant revenue bump, as reactivating customers you've already paid to acquire costs pennies. It yields a disproportionately high and immediate return, but has a fixed size and will hit diminishing returns.
When reconnecting with a past customer or old lead, don't be deterred by an initial complaint. Listen to their issue, but then pivot the conversation to uncover new needs. A complaint about a past purchase can be a gateway to discovering larger, current problems you can solve.
Revisit prospects who rejected you 6-9 months prior. Their "no" was often a failure to make any decision, not a rejection of your solution. Circumstances may have changed, making now the perfect time to re-engage the already-warm lead and close a quick deal.
Instead of abandoning lost deals, send them valuable, no-ask content like blog posts or industry reports. This positions you as a helpful partner, not a pushy vendor, setting you up for future pipeline growth when the timing is right for the prospect.
Instead of randomly contacting a large list of neglected accounts, use modern tools to make an educated guess about where to start. AI can quickly summarize past interactions, identify former buyers who have moved to new companies, or flag potential champions within an organization. This allows for a more strategic and personalized re-engagement effort.
Analyze your CRM for deals lost to reasons like "budget" or "unresponsive." Sum the pipeline value to quantify the cost of status quo. This data-driven exercise creates a shared goal for sales and marketing, shifting focus from "more leads" to "better conversion."
Sales teams often assume an unclosed deal is a loss to a competitor. In reality, 70% of prospects who don't buy from you simply postpone the decision and do nothing. This means a persistent follow-up system isn't about beating competitors, but about re-engaging a massive, untapped pipeline of stalled buyers.
Instead of cold prospecting with a hard pitch, re-engage dormant contacts with a simple, human message: "I was thinking of you and wanted to catch up." This low-pressure approach feels authentic, yields a much higher response rate, and effectively turns cold outreach into warm conversations.
When exporting CRM data for AI analysis, include all deals, not just your current pipeline. This allows the AI to incorporate data from deals that were closed-lost months ago, identifying accounts that may be ready for a renewed conversation and preventing it from mistakenly suggesting active deals.