How to increase lead conversion?
Lead conversion is the corner stone of marketing. You can run a great and attractive marketing campaign, but if you can’t convert leads into opportunities you’ll waste your time and money since you won’t get an increase in sales and your campaigns don’t pay-off.
Do you know that if you increase your lead conversion rate from 2 to 3% you will have a 50% increase in sales? So you need to understand how much you need to grow your lead conversion in order to gain that certain boost in sales.
Here we share with you several tips on how to grow your lead conversion fast.
1. Qualify your leads.
You need to understand what you should do with leads you’ve acquired during lead generating campaigns. Depending on what feedback you’ve got, you can understand how to process your leads and what steps should be next. You need to filter out leads, which can be further developed by the sales team, from leads, which will be sent into a lead nurturing campaign.
What’s important here: people want to be sure that they have to buy from you, not from your competitor. Lead nurturing campaigns allow you to convince your prospects and increase lead quality before you push them to sales. Using marketing automation software (like Eloqua, Marketo, Hubspot, Pardot etc.) can help you build a complete customer journey, including all channels from which you can get your leads.
2. Create follow up plan.
Be sure that it’s aligned with your sales team.
Develop a follow up plan together with your sales team. You might need to establish lead follow up standards as well as characteristics of sales ready lead. If you are accurate and effective, you will be able to communicate with your prospects so that you can see good results in lead conversions. While your sales team is mastering the art of following up, you already get fast results and improve your pipeline.
What’s important here: you need to follow up prospects until they forget about your company. Don’t be afraid to be annoying. If you reach out to your prospects faster, you will show them your willingness to help and appreciation of their interest. You can find more tips on how to follow up with your customers and prospects in this article.
3. Improve lead quality.
You need to nurture every possible lead, but try to implement high standards for lead quality in your company. Leads should have as much information as possible and there should not be unfilled fields nor duplications. You can use scoring - ranking of your leads in accordance with their readiness for sales - based on information that your prospect provided to you (company name, position, industry, email, telephone number etc.) and their behavior.
What’s important here: use specific software for gathering leads – CRM or marketing automation system, which helps you to improve data quality. Depending from which channel you’ve captured your leads, this software allows you to customize an accurate lead capturing process and define required fields that will be filled out by process stakeholders or automatically.
If you use Salesforce and email is one of your main lead capturing channels, you can try SmartCloud Connect for Salesforce (SCC). It allows you to create leads in CRM directly inside Outlook or Office 365 email client in one click, adding all necessary information automatically. You can record any leads communications – such as emails, meetings or calls, plan follow ups, track outbound emails open rate etc. SCC can help you improve Salesforce leads data quality and shorten the lead-to-opportunity cycle.
4. Create lead qualifying content.
If you capture leads from Internet and emailing campaigns, you can provide prospects with engaging and qualifying content. What does it mean? Your content is your main lead generating tool and you need to make it effective in gathering high quality leads. For example, your prospects sees your post on FB and visits your company blog, reads the article and downloads the white paper on the subject they’re interested to learn more about. He fills out the contact form, and after that he’s asked to be contacted by a sales person or visit a webinar in which he can get answers to his questions. By leading the prospect through the journey, you qualify the lead and increase it's sales readiness, since prospects decision to buy from you becomes more perceived and certain.
What’s important here: you need to develop a content strategy, define the right target audience, know main pain points and provide unique and helpful content which will push your prospects to share their personal data with you and allow you to engage them into the journey.
5. Communicate with your sales team.
Think about getting constant feedback from your sales team, since you need it to optimize your marketing campaigns. Sales reps also should get all necessary information from marketing about lead source, communication history, qualification, scorings etc. The marketing team in turn should get information about questions that the prospects usually ask, lead conversion rate, conducted follow ups and other events etc.
What’s important here: marketing and sales should work in the loop and follow the general lead processing rules. They have to share metrics and goals and work together on increasing the lead conversion rate. Sales people often complain about the quality and quantity of leads they get from marketing, while marketers in turn blame sales for the lack of diligence in lead processing. If they work together you'll avoid such misunderstanding.
Pay special attention to the content both teams use for providing prospects – it should be approved and single, and fully comply with the developed content strategy.