Did you know your best new prospects are existing customers & users that move to another company? In this post I list several reasons your company should have a quarterly strategy of locating users who moved and why you should engage them at their new company.
- They already know your company, product and service. They are like warm referral prospects, with 2x to 3x higher chance of engagement than a cold new lead. They can help you navigate their new company, and act as an internal referral.
- They are large in numbers. In USA, depending on the industry, 20 – 25% of the employees change companies every year. This means 20% of users of your product or service are now new prospects at a new company.
- They are more influential. Statistics show, when most people move to another company, they often move to a higher & more influential position. So they can pull you in easily, if they liked your service.
- Account Retention strategy. If you find the user who left the company was your product’s evangelist & is instrumental to your product’s continued success at that company – you will want to make some account defense moves. Your account manager needs to get on the phone and find a replacement evangelist. They can contact the user who left to find who the next best person would be.
- LinkedIn makes it easy to find who moved & to where. The new LinkedIn search can help you find companies your existing customers are moving to. Just enter name of customer & company and select it “Past” in company option – and do search. Through this process, You will find where people from your existing customers are moving to. Copy the new name-title-company & add it as new referral- user lead for your sales people to follow-up and close. These leads will statistically have the shortest lead time.
eGrabber is in beta with tools to stream line this way of generating leads. It shows the new company where your users have moved to and even provides their new title and contact information! Write to me, if you want to be part of the beta test, or be notified as we role out these tools!
If you want to brainstorm on a strategy to build a steady stream of B2B prospects for your team – I can try to help. I have 20+ years in developing b2b lead generation strategies, and have worked with thousands of companies. Feel free to email me – I don’t charge for consulting & brain storming… I enjoy the challenge – email@example.com
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