What is Lead Churn?
Emails that never get opened and visits to a booking engine that do not convert are all examples of lead churn. These are all instances when a potential customer could have converted into a booking, allowing your business to generate additional revenue. It’s important to understand what lead churn is so you can “win back” some of these leads increasing revenue.
So, knowing that the above situations can, and probably have happened at your business, it’s time to make a change and combat this issue. You don’t need to go out and hire an expensive agency or pay to get these leads back. With software like TRACK Pulse, it will be easy to develop an outbound strategy using your reservations team.
Your reservations team can be used as a sales team to follow up with leads that may have fallen off the wagon during the buyer’s journey. This is the perfect time for your reservations team to step in and see if they can convert the lead.
By setting up unique tracking numbers and assigning them to your website and advertising campaigns, you’ll know exactly what your lead was looking at before they abandoned their search. On the call, TRACK Pulse will aid you in capturing data from the lead, which will come in handy since we’re assuming they are not going to be booking on the first call (Otherwise we wouldn’t need to discuss lead churn, would we?).
When you have this information, you can then create a campaign to target leads that have been “disposed” – meaning they did not convert on the first call. With this campaign, your agents can reach out to leads and convert them.
Conversions = Revenue
By reaching out to disposed leads, your team is able to generate revenue that would be lost without an outbound strategy. Your agents are already great at taking reservations, so having them sell to potential customers that have already shown some interest will drive more bookings, increase your occupancy rate and drive revenue for your business.