What Are Cold Leads and What Do I Do With Them?

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According to one study, around 61% of marketers say lead generation is their number one challenge.

If you’re struggling to generate leads, you should learn more about the concept of ‘cold leads.’ That’s because if you know about this concept, you should be able to fix the lead generation issues in your company.

Keep reading, and you’ll discover how cold lead generation works and how this concept can aid your company. By the end of this post, you’ll know how to generate plenty of leads for your business. 

Let’s begin!

What Are Cold Leads?

Cold leads (otherwise known as cold prospects) are people you market to, of whom have not heard about your business. 

So, a cold prospect might be someone you reach out to in a cold email marketing campaign. Before this cold email, the person may not have heard of you, and so this email will serve as their first interaction with your company.

The opposite of a cold prospect is a warm lead, and this kind of lead involves an individual that is actually approaching you. 

For instance, a warm lead might be someone that has provided their information so that someone can call them back. 

How Do You Generate Cold Prospects?

If you want to generate cold prospects, you will first need to define your ideal customer.

Once you’ve done this, you will then need to buy relevant leads from a specialist company. 

If you don’t have the time to do this, there’s the option of using a ‘lead generation company.’ This is a company that will actively generate relevant leads for you, thereby eliminating a lot of the work associated with this task. 

If you’re going to do this, consider working with a company that focuses on your niche. For example, if you’re in the real estate niche, you should approach a company that offers real estate lead generation.

How to Close Cold Prospects

If you want to close a cold prospect, you will need to educate them about your services and your company as a whole.

After all, they will not know anything about you, and thus you need to generate some trust. Perhaps the best way to do this is by providing them with a case study. 

A case study will highlight your ability to produce results, thereby giving prospects a reason to believe in your offering. If you don’t have any case studies, consider working for free until you have one you can use as a marketing tool. 

Do You Have Enough Leads?

If revenue is low, learning about cold leads may just help you turn things around.

Generating cold prospects is only half the battle, as you also need to convert these leads. To do this, you will need to develop a sales process that turns a cold lead into a customer. 

You’ll likely have to iterate your sales process several times before you have a reliable method that converts cold prospects. Going through these iterations will be hard, but it’s worth it when you consider the value of a dialed-in sales process. 

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