Keeping your pipeline full of prospects is a never-ending challenge, so cold calling and mass outreach can seem like an effective way to keep the leads flowing. But how many of those cold leads actually result in business?
A smarter way to spend your prospecting time is attracting and nurturing qualified leads who actually want to do business with you. This blog will examine the problems with cold outreach and how to get qualified prospects calling you to book a meeting.
The problem with cold outreach
Cold calling and mass mailing are a tried and true method for finding prospects and booking meetings. When your funnel needs some new leads, cold outreach may seem like an attractive strategy—something you can do to book some new meetings right now. Mass emails are easy to put together and send. While cold calling takes time, most agents also find success booking new meetings.
However, for all cold outreach methods, the problem is that many of the leads that result are not qualified. In other words, you may have convinced them to take a meeting with you, but they are less likely to close. These prospects may have never heard of you and may have no intention of leaving their existing broker.
How to attract qualified leads
There are several effective ways to attract leads more likely to close, including inbound marketing, pain point-driven messaging and tailored campaigns. These methods can take more time but will result in more qualified leads.
Inbound marketing is the opposite of cold calling, in that the goal is to attract leads to you rather than outbound methods. Inbound marketing is centered on compelling content and tailored messaging that will capture prospects’ attention. As employers interact with your agency more and more, they become qualified and much more likely to close. Learn more about inbound marketing for your agency here.
Tailored and pain point-driven messaging are similar. Both are an important part of inbound marketing as a whole, but the concepts can also apply to any sales or marketing tactic. Tailored messaging simply means that instead of sending out a generic message (maybe focused on what your agency has to offer), you create messaging that is tailored to the prospect’s challenges and needs. Check out some examples in this blog.
Pain point focused messaging is a type of tailored messaging that focuses on the prospect’s top pain points—and the solutions you can offer to address them. Those pain points might be rising health care costs, new regulations or anything else that keeps that prospect up at night. Using this type of messaging is also a perfect way to challenge the incumbent, turning a pain point into a targeted question. Examples:
- How is your broker helping mitigate rising health care costs?
- Are you confident you chose the best plan for your company with your broker’s assistance?
- How often do you hear from your broker? Have they reached out about recent regulations that impact you?
Find some more great examples in this powerful email campaign.
With the different types of marketing strategies discussed above, the uniting factor is that prospects will let you know when they’re ready to meet. By focusing on their challenges and speaking directly to them, they are more likely to listen to you and want to hear more.
Plus, when you talking about their business needs instead of going for a hard sell, they’ll be more likely to meet with you when they’re ready. These marketing methods do typically take longer for results, as opposed to spending an afternoon cold calling and booking a meeting or two. However, these prospects will have a higher close rate because they are qualified.
A final note: great messaging is only half the equation. You must also have the solutions and services to back up your pitch and attract top employers. If you’re still using spreadsheets for your renewals, you might have a problem. Check out this list of reasons you need to upgrade your renewal process to move your business forward.