Is your company 3+ years old?
Try this to increase sales fast, especially if you are in competition with startups.
- 25% of past customers are now in new companies – target them
- 25% of past prospects are now promoted – target them
- 25% turnover of past users – target them
Experienced companies have qualified leads and existing customers in their CRM. This is the BIG difference between startups and experienced companies. Startups have to build their lead pipeline from scratch. But experienced companies can dip into their past connections and contacts as another channel to drive new sales.
People change jobs once every 4 years (source: U.S. Government stats ). These stats are from Jan 2020. With the layoffs during COVID, the number is much higher now.
These layoffs are GOOD for your sales. Why? That’s because:
- Past Customers and Decision Makers are now in new companies. These are new accounts that you can sign-on.
- Past Prospects are now promoted to fill up the gap of those laid off. They now have additional roles and new responsibilities. These are new deal opportunities that were once blocked because these prospects did not have the authority and now they are available to you.
- Past users have taken job roles in new companies. They have changed functions and industries, but they rarely change department. These are entirely new markets you have never tapped into before.
Tapping these 3 advantages can help you turn…
If you are not re-targeting old contacts in your CRM, you Must Do So Now. That’s because they are 10x easier to engage and close than a cold prospect.
Past prospects already know what you do, and showed interest before, they will be open to improvements you made.
If they were in a role that needed your product in the past, the chances are very high their new role also will require your product. And now they are likely to be in more senior roles.
Take your CRM prospects, customers and users and process them like so:
- Scan each CRM contact and identify if they are currently in the same company and in the same role
- If online research, social profiles or other evidence points to their movement from their company or role, then research to find their new Job Title and Company
- If they have changed companies, find if the new company matches the demographics of your ideal customer ( or are they in a new market you want to target?)
- If they have changed companies, find their new business email address and phone number so that you can re-establish connection via LinkedIn, Business Email and Phone conversation and start new business conversations from there
What is the fastest way to know which past customers moved to a new company and are new prospects for you?
If your company has a huge list of past prospects, eGrabber has a Job Change Finder service. It can scan your CRM/Excel list of past prospects & users and build you a list of people who moved to a decision maker role since you last interacted. You will get a list with full contact info including verified email and phone of their new work place. These will be the easiest leads to reach, engage and close.