Lead generation is the most talked-about term in business no matter whether it’s a small startup or an MNC. It is the lifeblood of an organization and is what that adds to the fuel of marketing.
When we hear the word ”leads”, numbers often come to our mind. But it is not always so. It doesn’t just mean listing names and data of every contact that comes across your website or related channels. Gathering as many contacts as you can or making sure that these leads would actually lead you to a successful sale is not just the idea.
So, what does this lead generation mean? And how do we go about converting leads into sales?
Lead generation strategy is imperative for you and your business because it is the first step in the process of a potential customer turning into a regular customer down the line. A quality and funnelled lead generation is beneficial for both the company as well as for its clients as it helps them in getting exactly what they need online.
Don’t worry that it’s so expensive. Choosing the right conversion strategies would boost your business without having to spend anything at all. Most businesses have actually been using the concept of leads by generating their potential clients. However, not all generated leads turn into sales opportunities. If we take an estimate of your website visitors, more than 60% of people who land on your website would just leave and do not come back. Hence, adding to your loss.
And that’s why you have to employ lead conversion strategies rather than lead generation tactics in your business. Here are some strategies you can employ in converting your leads.
1. Grab the right market
Knowing your target market is a must before you’re presenting or communicating your business. You should know for whom you are doing business and how your services or products cater to that market
You can find your target market within the financial marketplace. Your leads can have a particular niche to products, services, or interests that appeal to them only.
As a business firm, you must work towards connecting and marketing sales efforts that lean toward giving that particular group of people what they want or need.
You should profile people who are most likely look into your company or business. Customer profiling can be done using their:
Demographic Data – Age, education level, employment, gender etc.
Geographic Data – Location, region, address, country
Socio-economic Data – Lifestyle, social class, personality and attitude
Purchase Behavior – Brand loyalty, brand choices, seasonal purchases, buying triggers
After researching segment your leads with the right profile for your business. This will help you understand the buying decisions of your customers. These factors will help your targeted leads in the market to get converted to desired success turnouts.
2. Understanding the lead conversion path
The lead progression starts from the moment a visitor dr0ps in a visit to the end goal which is to get a lead converted. It begins when a visitor sees content that interests them, and after a few clicks, they are taken to a landing page where they are asked for contact details in exchange for services or information that drew the visitor to the page in the first place.
This is how a basic lead conversion path works, and a business needs to know how to pave the way for leads to follow the said path. Most lead conversion paths start with content mar0keting and lead gener0ation forms.
A good conversion path has well-defined landing pages, active call-to-actions, accessible and convenient web forms, and well-developed, appropriated content.
3. Consider using communication channels preferred by customers
Today businesses use different channels while marketing a product or service. A product or service is considered properly marketed when there is consistent interaction from consumers and an increased brand reach.
According to a study by Experian Marketing Services, customers are prone to their own channel preferences.
In order to convert leads, you have to know where you can reach them. If your leads prefer emails, send them emails. If your leads prefer calls, start calling. If your leads prefer reaching out on social media, start connecting and posting your relevant content to attract and pull them in. With the right efforts, your cold sales lead might turn into warm ones.
4. Focus on lead quality than lead quantity
Lead quality is more important than lead quantity. Defining lead quality will always be to your advantage.
Recognizing the right lead by establishing your target market is the first step, followed the right content and proper display for attracting and nurturing. Lead quality is featured with lead nurturing, and the effects are certain. Nurtured leads are expected to produce an average of 20% increase in sales opportunities than non-nurtured leads.
Quality leads to increased opportunities, boosted responses, and attracts more potential leads from your existing leads. Every business owner should concentrate on getting the right leads which will result in positively good conversion rates.
5. Verify received information
Data quality is said to be one of the most prevalent issues in conducting lead conversions. Getting the wrong infor0mation like an email address or name isn’t just a simple error, it’s a wasted opportunity.
Validation of data is key to getting quality data. You can do this by testing out every form on your website. Send out test emails to follow how they’re received it. The data received is to be documented as a measuring aid to know the effectiveness of your lead generation.
There are many other lead conversion paths to choose from. Nevertheless, it is best to choose the conversion path right for your brand.