Congratulations on your new lead list! Whether you've gotten a list of leads from an event, a webinar, a conference, or a lead generator, getting a list of prospects is exciting. It's a significant step towards expanding your business and reaching potential customers. However, there are some pitfalls we often see small businesses fall in to when someone approaches LACRM with a big spreadsheet of data. In this blog post, we'll explore three common mistakes to avoid when working with lead lists.
Sending out cold emails without learning more about your leads.
One of the most common mistakes after acquiring a list of leads is jumping the gun and sending out cold emails immediately. While it's tempting to start reaching out to your leads right away, it's essential to remember that a successful lead generation strategy involves more than just hitting "send." You need to know who your leads are and what they're interested in to craft personalized and effective messages.
The Fix: Data enrichment
Before firing off those emails, invest some time in data enrichment. Data enrichment tools (here is G2's highest rated list of lead enrichment tools) can provide you with valuable insights into your leads, such as their job titles, company details, and online behavior. This data can help you tailor your emails and messaging to the specific needs and interests of each lead, increasing your chances of a positive response.
For example, let's say you're selling consulting services with a range of specialties. By using data enrichment tools, you discover that one of your leads is the head of a project management department in a large corporation. Knowing this, you can customize your email to highlight your previous successful case studies in managing complex projects for large enterprises, making your outreach much more relevant and persuasive.
Sending the same type of email out to everyone (or use the same call script).
The second mistake is to send the same subject line, same email content to every one on your lead list, even if you've customized it with a data enrichment tool. Some email subject lines get better open rates. Some buttons in your email are more likely to get clicked. And this is something you'll never know unless you're actually sending different versions of an email out to your leads and then sitting back and seeing what works better.
The Fix: A/B testing
A/B testing involves sending two versions of an email (or a call script, or any other kind of outreach) to different segments of your lead list to see which one performs better. You can test different subject lines, email copy, call-to-action buttons, and even the timing of your emails. By analyzing the results of these tests, you can make data-driven decisions to improve your email campaigns. A/B testing is a vital part of optimizing any marketing campaign because it allows you to experiment with different elements and refine your approach over time.
For instance, you might A/B test two subject lines for your email campaign to IT professionals (here's Hubspot's list of "best email subject lines" if you need ideas). One subject line emphasizes cost savings, while the other focuses on increased productivity. Instead of just splitting your lead list into two and sending out two versions of your email, only send these two versions of the email to half of your lead list. After analyzing the results, you find that the cost-saving subject line generates a significantly higher open rate. Armed with this knowledge, you can use this more successful approach for the second half of your lead list, increasing your likelihood of getting engagement with your outreach.
Relying too much on automation
The third common mistake is relying too heavily on automation, especially when working with a high volume of leads. While automation tools are incredibly helpful for managing large lists, they should complement your outreach strategy rather than replace it entirely.
The Fix: Balance automation with personalization
Automation can save you time and ensure consistent outreach, but it should be used judiciously. As we've already talked about, generic, one-size-fits-all approach won't yield the best results. Instead, make sure to include personalization in your emails and outreach efforts. Mention the lead's name, refer to their specific needs or pain points, and add a human touch to your automated messages.
For example, let's say you have a list of hundreds of leads ready to switch insurance providers. You can use automation to schedule initial outreach emails and follow-ups. However, in each email, incorporate a personalized sentence or two based on your knowledge of the lead from data enrichment. Mention their company's recent accomplishments or specific challenges they could be facing with their current provider. This hybrid approach combines efficiency with personalization, making your leads feel valued and engaged.
To sum it all up...
...working with a list of leads is a great way to grow your business, but success depends on avoiding these common mistakes. Take the time to learn more about your leads through data enrichment, use A/B testing to optimize your email campaigns, and strike a balance between automation and personalization. By doing so, you'll be well on your way to harnessing the full potential of your lead list and turning prospects into loyal customers.