How To Transform Lost Sales Into New Opportunities
Things move fast in Sales.
And it's easy to focus on new prospects only.
But what about those older conversations that didn't cross the finish line?
Here’s a powerful approach for reviving interest with prospects who didn't convert in the past.
The Art of Reconnection: A Multi-Faceted Approach
This revival strategy is all about thoughtful, persistent outreach.
It combines:
Personalized emails
Well-timed phone calls
Strategic LinkedIn interactions
Occasional thoughtful gifts
And yes, more follow-up calls
The key is finding the right balance between persistence and respecting the prospect's time and preferences.
As Jeb Blount, author of "Fanatical Prospecting," states:
"The single biggest mistake salespeople make in follow-up is they don't follow up enough."
💡For a complete guide on finding and winning new customers, check out 'The Ultimate Sales Prospecting Checklist' - your ticket to closing more deals in 2024 and beyond.
Using Your Tools For Better Impact
Modern sales intelligence platforms can make this process much more effective.
They provide great insights into past interactions, helping you adapt your approach.
A study by Aberdeen Group found that companies using sales intelligence tools see a 28.4% increase in year-over-year revenue growth.
If you're not using such tools, it might be worth exploring your options.
Your sales leadership will likely appreciate the initiative.
In particular as we know that, according to Salesforce, high-performing sales teams are 2.8 times more likely to use sales analytics.
Crafting the Perfect Follow-up Email
Here's a template that has proven effective, based on insights from HubSpot's analysis of over 40 million sales emails:
Subject: [Company Name] priorities - quick check-in
Hey [Name], We spoke last year about [specific topics discussed].
At the time, you were focused on:
[Priority 1]
[Priority 2]
[Priority 3]
Are these still key priorities for [Company Name]?
Best regards,
[Your Name]
P.S. I came across this interesting insight about [Company Name] - thought you might find it valuable. [Insert relevant screenshot or data point]
💡Want to master cold emailing? Check out my "Cold Email Mastery" course. Learn proven strategies to boost open rates by 50% and response rates by 25%.
Best Practices for Effective Reconnection
Do Your Homework
Review past conversations, understand their business goals, and identify key challenges they faced.
According to Gartner, 77% of B2B buyers state that their latest purchase was very complex or difficult.
Personalize
Use the prospect's preferred pronouns and include others who were part of previous discussions.
Personalized emails deliver 6x higher transaction rates, as per Experian.
Focus on Their Priorities
Frame your message around their business objectives, not your product features.
A study by RAIN Group found that 71% of buyers want to hear about how your product or service helps them achieve their goals.
Provide Value
Include a relevant insight or data point about their company or industry.
According to LinkedIn, 62% of decision-makers look for an informed perspective on their business challenges.
Keep It Brief
Respect their time with a concise, to-the-point message.
Boomerang's analysis of millions of emails found that emails between 50-125 words had the best response rates.
Visual Appeal
If possible, include a professional photo of the prospect (smiling, if available) - while there's no hard data on its effectiveness, it adds a personal touch.
Setting up this revival strategy will help you follow up on old leads.
But more importantly, it will show your commitment to their success and position yourself as a strategic partner, not just a seller or random vendor.
In sales, timing is everything.
A "not now" last year could easily become a "yes" today if approached with the right strategy and mindset.
Part 2: Advanced Revival Strategies
Here’s what I’m covering in the 2nd part—exclusive to my premium subscribers:
An in-depth guide with advanced techniques to boost your sales revival efforts.
This exclusive content includes:
Understanding the Value of Revisiting Lost Opportunities
Segmenting Your Lost Opportunities for Maximum Impact
Timing Your Outreach: When to Strike for Best Results
Multichannel Approach: Beyond Email and Calls
Measuring Success and Iterating Your Strategy
Knowing When to Let Go: The Art of Graceful Disengagement
Upgrade now and take your sales revival efforts to the next level!
"The advanced sales strategies I've learned with Sales Career Hub have doubled my team's productivity and significantly improved our customer relationships!" - John D., Sales Manager
1. Understanding the Value of Revisiting Lost Opportunities
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