Chasing Your Leads or Waiting for a Miracle?
A lthough lead generation is a crucial step of the sales marketing process, the investment and time spent on these leads won’t make sense unless you close them. To have feasible long-term sales opportunities, they need to have sufficient leads in their pipeline. However, the bugging question for many marketers and sales representatives is, should you chase down leads or do you wait for them to show up at your doorstep.
The lead generation process starts by finding out where your target market ‘lives’ on the web.
– Wayne Davis
Often, the ability to close a lead depends on how fast you follow up. Still, some marketers claim that giving a prospect time to figure out what they want is the best way to close them. In this write-up, we’ll try to answer the question: should you chase your leads or wait for a miracle?
Reactive vs Proactive Approach: Which One Should You Follow?
When it comes to reactive and proactive lead generation, there are several schools of thought, each trying to prove why theirs is the best. However, when we delve deep into the matter, we’ll understand that both approaches are right and wrong at the same time.
What’s Reactive Lead Generation?
Reactive lead generation is when marketers lob a statement, an advert or a pitch to prospective clients and wait for them to react. The natural predisposition that marketers take after seeing a response from a prospect is referred to as reactive. For instance, if you call someone to confirm whether they received the catalogue of products you sent them and wait for their response, that’s reactive.
Although it’s considered a less effective approach than being proactive, reactive lead generation isn’t a bad tactic. At times, reacting to situations as they arise can help you save time and money. It’s easier to close a lead that has shown interest than chasing one that hasn’t shown any interest.
Here are a few tactics to reactively close leads:
- Be vigilant: Be on the lookout for any responses or enquiries from prospects on your email, social media feeds and promotions. Once you see any queries, be sure to respond and ensure that you adapt your brand to these conversations. Try to offer appropriate solutions to any problems and ask for feedback.
- Base your decisions on needs: With reactive lead generation, the course of action you take should be driven by the prospect’s needs. Rather than having a plan executed based on data, you react based on the matter at hand.
- Be Flexible: If you want to close leads reactively, you need to be flexible and easy to adapt to emerging needs. You should be willing to evolve and respond to prospects needs and requests without hesitation.
What’s Proactive Lead Generation?
On the flip side, proactive lead generation involves chasing down leads using all the tools at your disposal. It entails learning about a prospective client, setting expectations, and explaining why they need your brand or product using the right messages. Essentially, you’re not waiting for the prospects to take the lead role; you identify their needs and wants and explain how you can help them before they even know it.
A proactive approach is more fancied by most marketers since it allows you to think outside the box. Proactive sales reps and marketers come out as knowledgeable in their field of expertise. And since prospects need help at every step, they would want to hear more from knowledgeable salespersons.
However, for a marketer to be proactive when closing leads, they need to follow a few tactics:
- Base your decision on analyzed data: Unless you collect and analyze the correct data, you won’t know the best leads to follow. Although it may seem like a great idea to chase all the leads, you might end up wasting a lot of time and resources on leads that will never pan out.
- Ask open-ended but specific questions: Ask questions and solicit engagements when sharing or promoting your brand or products. Ensure that your questions have a value statement and are phrased to show you care that you care for the prospect’s needs.
- Have a well thought out plan and conduct in-depth research: A significant part of proactive lead generation should involve making preparations, evaluating alternatives and strategizing. Before you pounce a prospect, you need to be conversant with the latest trends, use current promotional options and leverage creative marketing strategies. While being proactive is considered more guesswork, you should strive only to make educated and informed guesses.
Reactive or Proactive Lead Generation: Which one Wins?
Well, there is no better method between the two. This is because different situations call for different approaches. But, indeed, every business needs to blend reactive and proactive strategies to close leads successfully.
The type of approach you follow will depend on whether your leads are qualified or not. The best way to determine whether you should chase leads or wait for a miracle to happen is to qualify your leads. Once you are sure which leads are hot and which ones are cold, you can decide the lead generation approach to follow.
Since qualified leads already know about your products/services, they are easy to chase proactively. On the other hand, since unqualified leads are yet to be natured to make their first purchase, you can retain them in the pipeline and only react when they make their first move.
Since information is readily available in the modern ecosystem, prospects are not looking for sales reps or marketers to bombard them with sales speeches and blunt promotions. They want knowledgeable salespersons who can articulate issues and showcase value. So, if your business solely relies on reactive marketing, it’s time you change tactics and follow a proactive approach.
Once you qualify your leads and separate the hot from the cold, you can go ahead and use the rightful approach for each segment. Use a proactive approach to follow up, nature and close qualified leads. For the cold leads, don’t discard them. Please leave them in the pipeline and use a reactive approach to attend to their needs once they make the first move.
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