What Are Aged Internet Leads and How Can They Benefit Me?
Have you heard of aged internet leads?
If so, you might be wondering what they are and how they can benefit your business.
While they’re not perfect for every industry, in finance and health insurance they can be a valuable addition to your usual methods.
Read on and we’ll explain what aged internet leads are so that you can decide whether they’re right for your company.
So, What Are Aged Internet Leads?
The majority of sales leads sold online are “real-time” leads. The essence of the business is this: a company gathers leads through whichever method they use and sell them within 24-48 hours of gathering them.
When there aren’t enough buyers within that relatively small window of time the leads become “aged” as the individual behind the lead may have already made their decision.
It can be a loss for the marketing company involved, but they’re an excellent opportunity for those who are in the right business.
Aged leads are usually anywhere from 3-90 days old. Fresher leads are generally considered better, but you shouldn’t discount older leads in slow-selling fields like life insurance or mortgages.
The Advantages of Aged Leads
The biggest advantage of aged leads is that they’re cheaper than those sold in real-time. Often by a wide margin.
The cost of aged leads is often so low that even a 0% conversion rate isn’t a big deal but most companies will do much better than that.
Being able to snap up a lead which was warm only a few days before for pennies on the dollar is a great prospect for anyone.
For businesses that don’t revolve around snap-consumer decisions, they can be a great addition to collecting newer leads.
They’re also a great way to increase your list size, and some salespeople specialize in what they call “resuscitation marketing.”
Are There Any Disadvantages?
The biggest disadvantage of aged leads is that the person may have already made a decision or gotten cold-feet about the sale in the first place.
Most people will end up using an auto-dialer and getting a much lower conversion rate than they would with newer leads. That can lead to a lot of disappointment for the seller if they don’t know what they’re getting into.
You’ll have to expect a much lower conversion rate when trying to re-engage aged leads. 1-3% is actually doing pretty well depending on how old the leads are.
They’re not perfect and aged leads aren’t something to build your whole sales strategy around. Instead, they should be used as a complement to what you’re already doing to bring in leads.
They’re also not really viable for business models where a customer is likely to make a purchase immediately.
Converting Aged Leads
There are some tricks to bringing back old leads and the process differs quite a bit from hitting leads while the iron is hot.
For the most part, you’ll want to separate your sales attempts from those which are for newer leads.
Don’t drag out the sales process either, especially if you’re using e-mail as your primary method of communication with possible customers. Taking weeks to get to the sales attempt will just lose their interest.
In general, things need to be done differently during the approach if you’re looking to actually get a decent conversion rate out of old prospects.
Forming Your Content and Pitch
Hopefully, you’ve done research on your target demographic.
If so, you should already know what problems you’re trying to solve for your customers and what may have turned them off of the service in the past.
Your goal should be to reassure them that you’re “not like the rest of them” from the outset. Offering simple things like a free insurance quote or a slight discount can get things going when you’re after customers that didn’t purchase the service in the past.
If your industry lends itself to it a free e-book offering information is a great idea. Grab a decent ghostwriter for the process and you’ll be headed in the right direction. The book should have valuable information, not just be an extended sales pitch.
Remember: an aged lead which has conversion potential hasn’t made their purchase yet but they were interested in the past. Key in on their problems and you’re on your way.
Don’t Get Pushy
There’s nothing that will turn a potential customer off faster than a pushy sales pitch.
Oftentimes that’s why they haven’t made the purchase in the first place. Keep things lighter than you would with a newer lead but not quite casual.
When you demonstrate your willingness to help rather than sell you stand a very good chance of winning the customer over.
Know the Market
One thing which people often forget about aged internet leads is that the potential customer is likely to be more informed than those who are looking for the first time.
In some cases, they may have talked to a half dozen or more other companies in your niche before you contact them. The average consumer may not know much about health insurance, for instance, but someone who’s been shopping around likely has a good idea of average costs and practices.
Treat the customer like they’re well-informed from the outset and you’ll get better results.
Ready to Give Aged Sales Leads a Shot?
Aged internet leads are an excellent complement to more expensive real-time leads. In the right industries, they can be a big moneymaker but you’ll want to make sure that you’re treating these potential customers the right way.
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