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Before you throw out those old leads, consider that today's trash could be tomorrow's sale.
Don Freda of Articulate Global in New York City flew to Ann Arbor, MI to present his software solution to the University of Michigan. During the meeting he discovered that although his solution could help the university, it lacked some major features that the customer wanted. Because his company didn’t offer the needed components, Don flew back to New York without the sale.
Just like all good technology-driven companies, Articulate Global was continuously growing and enhancing its product offering to reflect the advancing needs of the marketplace. Months later when Don learned that his company offered new features – the very same features that U of M was looking for – he pulled the old file from his sales graveyard and immediately called his contact with the good news. Don’s next trip to Michigan was successful and he brought home the order.
All sales professionals have a long list of prospects that did not turn into sales. While it doesn’t make sense to contact all of your old leads, you may want to refrain from throwing out some of them and put them in your tickler file instead. By touching base with them periodically you may turn trash into treasure. Here are the types of old leads that are most valuable.
Availability
Like in Don's situation, you may have encountered prospects who need a product or service that you don’t offer now, but may offer in the future. Keep these prospects on file and follow up with them if the features they needed become available.
Timing
If what you sell requires time-based contracts, be sure to find out when your prospect's contract expires with your competitor. Contact the prospect before your competition inks a renewal. Explain to your prospect that you will help them assess their options before they blindly assume that their current provider is still the best value.
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