HOW TO RESEARCH COLD LEADS FOR CONVERSION
Have you ever received a cold email from someone that left a bad taste in your mouth about their business?
Raise your virtual hand if you have!
I get them almost daily and nothing makes me cringe more than a pitch infested cold email that is off the charts sleazy. I mean, it's Sales 101 to not be a total jerk when pitching a cold prospect. And you sure as heck don't want to pitch something without knowing if it's something they actually need.
One of the key factors to successfully converting cold leads is to do some MARKET RESEARCH! Nothing ticks me off more than when someone reaches out to me and pitches me in the first email some B.S. that I don't even need. Had they taken a few minutes to review my website and social media accounts it would become apparent what areas my business were slacking and could need some support.
I can't express this enough. Do your market research before you communicate a the cold lead!
Now, you may be wondering what to look for when you're researching your cold lead. Well, don't worry. I'm going to give you the skinny! Let's dive right in...
5 STEPS TO RESEARCHING COLD LEADS
- Learn about the Business/Company
- Vision + Mission
- Business/Company size
- # of Employees (if applicable)
- Target audience
- Products/Services sold
- Learn about the CEO/Founder
- Review the "About" or "Contact" page for information
- Review social media platforms
- Find their name + hobbies + interests
- Discover the Business/Company Weaknesses
- Determine what appears to be their struggles
- Explore where are they falling short
- Strategize a way to offer support
- Explore the Business/Company Strengths
- Determine what they are doing right and/or what impresses you
- Explore why you were drawn to them
- Outline why you would like to work with them
- Prequalify the Cold Prospect
- Determine if there are any red flags (first red flag is the last red flag)
- Decide if they meet the criteria of your ICA or non-negotiable check-list
- Find at least ONE way you can support them
Remember: Be open to the possibility of what can come from this relationship.
Remove the need to sell/pitch to them in every interaction. Focus on building a relationship with a friend. When you remove the expectation to sell and focus on the relationship you'll build a loyal and genuine relationship that will support you for years to come. This could be in the form of a referral partner, JV, collaboration, business bestie, client, or more.
A relationship that is built on TRUST can withstand the test time!
Once you do your market research for a cold lead prospect and you have pre-qualified them, then it's time to create your relationship building strategy where you nurture them from cold lead > warm lead > hot lead > paying customer/client!
To get the full scoop on my strategy, you'll want to check out the related guest blog post I wrote for the Amazing Women Entrepreneurs Network!
This is the exact approach I use that allows me to create raving fans in my community that are excellent referral partners, collaborators, and long-term clients that stick around for years.
Alright, so now that you know how to research your cold leads to a higher conversion and you can grab my exact strategy from the guest blog post. Then all you need next is How to Build a Loyal Relationship with a Cold Lead and you'll be all set to conquer the cold lead generation process.
You've got this!
Share in the comments: What's your hot tip for researching cold leads?