The Challenge
It doesn’t matter if your company sells a financial product, a SaaS subscription, or a consumer service; research shows that more than 90% of your leads are falling out of the funnel at some point. Across all digital marketing funnels, only 2% to 7% of top-of-funnel leads convert into customers regardless of vertical. That’s a lot. And as Marketers and Sales Professionals, we have just accepted it as the cost of doing business.
Based on our client portfolio, we rarely find a team focused on recapturing the +90% of leads that fall out of the funnel. Instead, organizations are designed around Marketing being responsible for generating leads and Sales being responsible for closing leads that Marketing generates.
To compound the problem, the cost of digital leads continues to rise. The chart below shows how much digital CPLs have increased from 2016 to 2021. If you are a Marketing leader at a Tech or Financial Services Company, you have to increase conversion rates year-on-year just to cover the fact that costs to generate a lead have increased by ~3.5x to 4.5x in just five short years. It’s staggering.
Netting It Out
- +90% of all leads that are generated fall on the floor
- These same leads have increased in cost by 4x over the last five years
- No one is responsible for these leads once they exit the funnel and ensuring that they are re-engaged
The Solution
How impactful would recapturing 5%-10% of your leads and bringing them back into the funnel be to your bottom line?
LQ Digital has designed a solution exclusively focused on recapturing these “Lost Leads” that have fallen out of your sales and marketing funnel. LQ Cadence utilizes a combination of outbound SMS, Email, and Phone (when possible) to re-engage prospects and nurture them until they are ready for an active sales process.
After 17 years of working with our clients to dial in their acquisition funnel, we are experts at supporting every step of the customer experience, even as the customer journey goes from online research to an offline sales conversation. We A/B test every message across every channel to continually drive recapture rates and drive profitable growth.
Recapture in Action
The Challenge:
A B2B business services client was looking to increase the number of scheduled appointments for their Sales Team. This client was good at getting prospects to schedule an appointment, but more often than not, prospects failed to take the call when the time came.
The Mission:
Re-engage the prospects that showed initial interest but didn’t attend their appointment and pull them back into the sales funnel.
Strategy & Tactics:
Reach out to these leads with a multi-channel contact strategy across phone, SMS, and email, with the goal of re-engaging them to schedule an appointment with our client’s Sales Team. By testing different sequenced messages across various channels, we could pinpoint what customer journey and message resonated best with their customers and increased the number of appointments set for their Sales Team to close.
Contact Us
Don’t leave money on the table by letting qualified prospects slip away. If you’re ready to learn more about LQ Cadence and how it can help recapture your lost leads, please get in touch with us today using the form below.