10 Lead conversion strategies for small businesses
Many businesses have been spending time and effort into getting more leads but not converting the hard earned leads into customers. Sometimes, you do not need additional leads or prospects at all, instead what is needed is just better ways to convert a larger portion of your prospects into customers. To raise your conversion rates while reducing the cost of acquiring those customers, here are 10 lead conversion strategies you can use:
- Get qualified leads upfront
This will help to save you time and make you more efficient in closing leads who are ready instead of spending time on those who aren’t receptive or not ready for, cannot pay for or weren’t interested in what you are offering.
You can qualify the leads by offering specific propositions and those who responded are those who have the desire, the capacity, and the motivation to engage you for your products or services.
- Know where your big fishes are
This would mean finding where your ready market is.
Focus on those who have an awareness of your products or services, who are familiar, or have a higher chance of using it.
Try to spend less time with those who don’t need your services or products.
- Track and measure your conversion strategies’ performance
Without this, all that you do is based on guess work!
It is the part where most businesses skip because either they don’t know what to measure or feels that it takes too much time to go into it.
However, this is where you can determine your ROI and whether should you need to change and what to change in order to improve.
- Packaged your informational offers
Most people assumed that the buyers already know it all.
The reality is, prospects are looking for a substantial amount and sources of information to help them in their decision-making.
If you could make their life easier, you will be at the top of their mind.
By packaging your expertise into a consumable format such as a report, a video, a booklet and cheatsheets, your prospects will then be able to interact with your expertise and get a sample of it.
This will then raise your chances of getting the sale.
- Giving demonstrations
Helping your prospects and walk them through your products or services can create a stronger desire in their minds because they are now more intimately connected with what you have to offer.
This is also a way which you can give a preview of what it would be like when they take up the solution.
- Sell on the why
These days, it is not enough to just pitch about your offers, value and proposition.
Prospects are also assessing your credibility by trying to figure out your commitment in this business.
They do so by wanting to understand why you do what you do.
Selling on why can be a very powerful approach to increase the intensity and desire of your prospects.
Give them enough reasons as to why your offer is better than others, why they should act now and why they will be disadvantaged if they don’t.
The more compelling your reasons for them to act, the more powerful your positioning, the more people will understand the value you are offering, the more they will trust you.
- Be investigative
Do not take what the prospects said at face value.
Try to probe a little deeper into their worries, fears and concerns.
You cannot prescribe a solution until you diagnosed their needs.
As you get to the “heart of the matter,” you can then lead them to acknowledge that there is a problem and you are here to offer a solution to that.
- Creating a systematic approach by having scripts
One way which you can systemize your process and make it consistent is to devise scripts for different segments and offers.
You can add those that works for you as you go about testing different variations.
You can also collect those that works or that you find it suitable for your type of market.
- Have a strategic follow-up process
About 80% of the sales happen after about five to seven touchpoints. Yet only about 8% ask for the sale on their fifth attempt.
With a lack of follow-up, you could be wasting your time and effort collecting leads because you will be losing them through the cracks.
By following up, you increase your connection and nurture the relationship with them such that when the need arises, they will think of you.
- Address the objections before they realized it
When crafting your sales copy, try to address the concerns and objections that are going on in their head, so that it keeps their desire high.
The concerns that are not addressed will come back to haunt the prospects later on and may make them change their minds.
What are some of your challenges when comes to converting the leads into customers?
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