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In the fast-paced business world, there is no asset more valuable than leads, as they are the key drivers of growth and profitability. As is often the case, many leads within your CRM may become inactive and be classified as ‘dead’ due to their lack of recent engagement or conversion. Numerous companies prioritize investing in acquiring new leads instead of allocating resources towards re-engaging inactive prospects. As per the Harvard Business Review, retaining an existing customer is significantly more cost-effective, with a range of five to 25 times less expensive than acquiring a new one.
What if you could convert these dead prospects or clients into profitable sales? Welcome to the world of ‘sales farming’ and revenue recovery, which has proven to be a game-changer for experts, coaches and consultants.
‘Sales farming’ differs from the conventional ‘sales hunting’ strategy, which focuses predominantly on acquiring new leads. Instead, it promotes the maintenance of existing relationships and the reactivation of dormant leads. This strategy entails meticulously combing through your contact database, identifying prospects whose interest in your business has waned, and strategically reviving it.
Related: How to Get High-Quality Business Leads with LinkedIn and Marketing Automation
Notable businessmen such as Dan Lok and fitness legend Brandon Carter have effectively employed sales farming strategies. This innovative strategy focuses on nurturing and re-engaging these cold prospects and clients, giving them new life and substantially boosting your bottom line. We assisted Dan Lok in generating over one million dollars in six months by reactivating 300,000 leads. Similarly, we assisted Brandon Carter in converting 25,000 cold prospects into over $400,000 in revenue within four months.
How, you ask? By leveraging the power of AI and effective Sales Farming strategies.
Dead leads: recognizing the hidden treasure
Before implementing the strategy, it is essential to analyze the inherent value of ‘dead’ leads, which are commonly disregarded. A lead may initially go cold for various reasons, including that the timing wasn’t right, the prospect wasn’t ready to purchase, or your solution didn’t meet their current requirements. Often, it is also a previous buyer who, over time, stopped purchasing your solutions. However, conditions alter. What a prospect or client may not have been interested in a few months ago may be exactly what they’re looking for now.
Therefore, these inactive leads represent a concealed treasure trove of potential business, and it is your responsibility to unearth this value.
Related: How to Maximize Your Online Sales Leads
Sales farming: key strategies to implement
Sales Farming as a strategy relies heavily on personalization and automation. Several market tools can help your business achieve these goals, including Salesforce, HubSpot, GoHighLevel and Harvest AI.
Bespoke Outreach: The initial step is to create tailored communication. This isn’t just about mass communication; it’s about crafting messages that feel individually personalized, which can help reignite interest in your business. Tools like Salesforce and HubSpot are particularly well-equipped for crafting and managing these personalized emails, texts, and voicemail drops.
Automated Appointment Scheduling: Streamlining your sales call booking process can significantly improve the experience for your leads, thus increasing the likelihood of conversion. Platforms like GoHighLevel can provide the kind of automated bot assistance you need. Using advanced AI technologies, these bots can interact with leads, understand their schedules, and set appointments accordingly.
Personalized Video Content: The power of video as an audience engagement tool can’t be overstated. Creating a video and then personalizing it for each lead can greatly enhance your outreach efforts. Several advanced tools in the market, such as Harvest AI, can modify the lip-sync of the video to align with the lead’s first name, taking personalization to a new level.
Improved Deliverability: Ensuring your outreach messages reach your leads is critical. Services that assist in obtaining A2P and STIR/SHAKEN approvals can enhance your deliverability rates, increasing the chances of your messages being seen by your leads.
Efficient Lead Management and Tracking: A key aspect of Sales Farming involves efficient lead management. This involves organizing and tracking all communications with a lead. CRM systems like Salesforce and HubSpot give you visibility into a lead’s interaction history, enabling you to design more targeted outreach strategies.
In conclusion, Sales Farming isn’t just a technique; it’s a comprehensive strategy designed to turbocharge your sales efforts. By offering personalized outreach, automated processes, and optimized deliverability, platforms like Harvest AI and others provide you with the tools you need to breathe life back into your dormant leads and unlock new revenue opportunities.
Building a sustainable business model
While the impact and results of Sales Farming are apparent in the short term, it’s also essential to recognize the long-term benefits of this strategy. By nurturing and re-engaging existing leads, you create a sustainable business model that doesn’t solely depend on acquiring new leads. This shift reduces your cost per lead and establishes a more stable revenue stream for your business.
Remember, the leads in your CRM were once interested in your business. They may have gone cold, but with the right approach, they can be re-engaged and converted. In the grand scheme of things, nurturing these relationships can prove to be more valuable than constantly seeking new leads.
Conclusion: Unearth hidden value
In conclusion, Sales Farming, particularly when powered by Harvest AI, provides a significant opportunity to unearth the hidden value within your CRM. It allows you to maintain fruitful relationships with your prospects, keep your pipeline healthy, and build a sustainable business model.
Remember, your CRM is not a graveyard for dead leads. It’s a farm, ripe with potential, waiting for the right strategy to cultivate it. Start farming your leads and watch as your ‘dead’ leads spring back to life, generating revenue and driving growth for your business.
It’s time to put your CRM under the plow and plant the seeds of re-engagement and retention. As the saying goes, ‘the best time to plant a tree was 20 years ago. The second best time is now.’ The same goes for your leads. Start Sales Farming now, and harvest the fruits of your efforts in the form of revived leads and increased revenue.”
This story originally appeared on Entrepreneur
