Not all leads are genuine. The question is, are they really interested? According to Gleanster Research, only 25% of all leads are legitimate and should even convert.
Wait. Don't leave! Don't despair! We're actually here to fix it. And we want you coming away from this article knowing more ways to increase your lead conversion. Even with such staggering odds, it's absolutely possible to convert those leads.
First, we need to deal with that pesky statistic we just dumped on you. We need to figure out how to know if a lead is genuine or not. And we're going to do this with a lead scoring system. If you adopt a lead scoring system, you can bridge the gap between your marketing department and your sales department. (If they're even separate entities.)
A lead scoring system assigns a value to each lead. This helps determine whether the lead is ready for sales, needs more time, or should be jettisoned. There are two metric categories here:
And each of these metrics will help you rank various leads according to buying intent. We're not saying this will get you more leads. And that's not the intent. 68% of marketers, however, say that lead scoring is "highly effective and efficient" for lead conversion. The reason is that lead scoring helps you better understand the genuine leads so that you can attract more of those higher-quality leads to your website.
If you're working with the wrong information, you'll lead yourself on a wild goose chase. You'll never see lead conversion that way. A balance exists between the right amount of information and overstepping your bounds into private territory.
If you go too far with your demands, you could lose a lead altogether. Most people will be willing to fill out a form of 5 or fewer fields. Too large of a survey will take up their time and they'll be less likely to finish and submit.
Your choices are then limited. If you don't have the right information, using a lead scoring system will tell you very little. Email and name are a must. Firmographic information like industry and company name will help establish whether they are lead for your industry. And possibly some sort of custom question might be appropriate. Questions about browsing habits or social media habits would only be appropriate in certain situations but might be better to track through analytics tools instead of asking for this information explicitly.
Now you have weeded out disingenuous leads. You can begin to target those leads with specific content. Content marketing is useless if it doesn't have an audience. But with targeted content, you have a tailor-made audience. If you know where your audience sits on your funnel, then you can craft your content to convince them to move closer to lead conversion.
If you don't have a blog, you're going to have to cultivate one for this tip to work (Also, marketers with blogs generate 67% more leads than marketers that don't have a blog on their site). You will want to create targeted content on your blogs and on your landing pages. What kind of targeted content?
Certain people will be more convinced with case studies and anecdotal evidence than others. But if they can see the truth of your opinion built around facts and figures, they are more likely to move down the funnel.
While white papers aren't the most used method of lead conversion, they are an effective tool. This will be for customers farther down the path to conversion. But providing an attractive and engaging white paper that outlines your product could be just what some people need. And, besides, our brains live for visual information. Including graphs, graphics, and charts in your white papers will help people remember pertinent information.
When you've just met someone, knowing when to call them for another date is imperative for lead conversion. But sometimes that's a guessing game. In sales and marketing, this shouldn't be a guessing game.
How quickly you follow up and how the lead feels after the conversation is important. Don't rush into a follow-up. Give the lead a day or two to mull over your business.
But don't wait too long. If you do, two things could happen. The customer could forget and move on. Or your competitor could scoop them up. A lot of times the sales go to the vendor that responds first.
Striking that balance will show the potential customer that you're in the game but not too eager. Not all of your leads will be person-to-person. You may have an automated lead follow-up system in place.
But the only possible downfall here is the impersonal touch. You want to make sure that the automatic reply is personal and relevant to that particular lead. It must also be clear to the lead why they're receiving a response and what you hope for them to do next. A great call to action could improve on this process.
And their no be no. In other words, you don't want a maybe. Unlike fish, "maybes" are not our friends.
This goes hand in hand with your lead scoring method we would implement in lead conversion. You must force a yes or no answer out of your leads or you're wasting your time. If what you're doing produces more maybes than yeses or noes, then it's time to think of something new.
You will probably have to re-work exactly how you're presenting yourself and your company to potential leads. You won't see any lead conversion if you're constantly getting maybes and I'll think-about-its. I should be, yes, I'll take that eBook. or no, I don't want to join your mailing list.
Effective lead conversion is all about parsing out genuine leads from wasteful leads. If you're focusing too much time and effort on leads that won't convert, you'll miss the leads that will. If you're looking to convert more leads, request a free strategy session today.