Did you know 79% of marketing leads never convert into sales?
It's nearly impossible to make strong profits with the industry average for conversions averaging at just 21%. But there are ways to boost that rate.
If you're serious about boosting your marketing success, then you need to be serious about boosting your lead conversion rate. Here is our guide to help you do it.
Practice Lead Nurturing
Don't confuse this with lead generation. A lead is somebody who is aware of your product and may make the decision to purchase it. That decision depends on the interests of your customers.
One way to make your customer's interests align with yours is through the magic of lead nurturing. Lead nurturing works by allowing you to develop a relationship with potential buyers at every step of the purchasing process.
As that relationship develops, your customer is gently guided to a purchase. But the key here is doing this in a smart way.
You can't nurture leads with people who know you're trying to make a sale. You need to convince customers to buy your product by being genuinely helpful to them.
That means giving honest answers to any questions they may have and expressing genuine concern with the needs of your customers. While this takes a bit more time than simply pushing a sale on somebody, it is also well worth it when these customers finally decide to make a purchase.
Use Targeted Content to Generate and Nurture
One of the best ways to generate prospects more prone to lead conversion is through targeted content. If you don't properly aim your marketing efforts at potentially interested customers, you'll end up with confused clicks that never convert to sales.
Social media provides us with the opportunity to create targeted content: this will play a huge role in future conversions. It's also incredibly easy, simply through the use of Facebook ads.
You can also increase the amount of targeted content on your website by engaging in regular SEO research. When you create targeted content and promote it both on search engines and on social media, the leads you generate will become far more useful.
Your customers are already looking for your product online. Bring them there.
Address Budget Concerns
The decision-making of both business professionals and daily consumers is strongly influenced by budget. Nobody wants to overspend: at the same time, radically changing your service can reduce the quality of your service.
The best thing you can do is convince potential customers that your product is worth the expense. Emphasize this from a position not just of cost, but being cost effective.
For instance, tell customers that the quality of your service or product can save them from having to make regular repairs. Mention the warranty they get, and the ways your service can save them money.
Also be aware that addressing budget concerns is different than focusing solely on price. Avoid using words like "cheap," which can actually hurt your brand. Instead, avoid the initial expense as a topic of conversation. Talk more generally about how your product will affect the customer's bottom line, and they'll see the light.
Have All-Star Customer Service
Good customer service is absolutely essential to lead conversion. Your customers want to feel valued, and if they feel service is not going well will eventually decide to take their money elsewhere.
Bad customer service can cost you existing customers. But on top of being toxic toward lead nurturing, it can also make lead generation impossible. That's because of the snowball effect: if people think your representatives are rude and your process takes too long, you will have a reputation as a bad and inconvenient provider of your service.
On the other hand, providing excellent customer service can make it easier to upsell existing customers. So make sure your service is excellent.
Use Timely Follow-Ups
Using timely follow-ups is an incredibly effective way to boost lead conversion. The first contact with a customer is rarely the conversion point: the majority of follow-ups happen at later times.
It's strange, then, that lead generation is the focal point of so many businesses. Companies spend 92 times as much money on generating leads as they do on converting them.
After you've generated a lead, the best way to hang on to them is by following up with them in a timely fashion. You should have a plan for what you're going to do five minutes, five hours, and five days after a potential lead seems to be lost.
Eventually, there will come a point where you need to cut your losses. Not all leads are going to pan out. But you shouldn't give up quickly: persistence is the only way for your lead conversion strategy to succeed.
Bring Back Existing Customers
Depending on your business, you probably need repeat customers. Rewarding loyalty is one of the best ways to engage in lead conversion by keeping customers in the fold.
There are a variety of ways to do this. Online, this can involve giving customers "points" for purchases: think about the loyalty cards at your favorite cafe.
Similarly, you should continue sending marketing materials to pre-existing customers. Consider these customers leads that have always been generated: to succeed, you need to convert them multiple times.
Boost Lead Conversion With Us
We're committed to helping Colorado business owners develop the creative marketing solutions they need. Our expert team takes an all-inclusive approach to digital marketing.
That means we focus on everything from SEO to UX. Our focus is on a long-term commitment to developing high-quality content for our potential customers. And we would love to make you one of them: but we'll need your help.
If you're interested in taking your lead conversion strategy to the next level, contact us today!