January 2, 2015
Topics: Inbound Marketing, Lead Generation, Lead Conversion
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January 2, 2015
You may have all your inbound marketing strategies in tact, but lead conversions are still down. Only 2% of first time visitors to a website are ready to make a decision or purchase. This means we still have a lot of work to do!
Speed - This is the single most important decider in whether a lead will convert. Forbes conducted research on over 10,000 companies in fifteen different “secret shopper” studies over the last five years and found alerting results. Their “secret shoppers” submitted forms with their phone numbers and email addresses in order to see how quickly they received a response.
They found companies weren’t contacting leads quickly enough, with an average response time of 46 hours and 52 minutes. By calling within one minute of form completion, you can boost your conversion probability by 400%! In only 24-hours, that number falls to 27%. By reducing response times, you’ll know your lead still has your product or service in mind and is ready to continue the conversation.
Understand your Audience - In order to understand your leads you must collect the right information. You can do this by making sure you’re asking the right questions in order to determine whether they’re qualified leads. You want to be sure your sales team is equipped with enough information to create meaningful contacts. Once you have a clear view of your leads, you’ll be able to quickly identify prospects.
Be consistent - With speed and consistency, your leads will feel appreciated and rapport is built. According to Forbes, the average sales rep only makes 1.3 call attempts before giving up on their lead and moving on. They also found that only 27% of leads ever get contacted, however when companies combined consistency, awareness and technology, that number rose to 92%. Use different forms of communication to contact your lead and always follow-up. Once you break that flow, chances are they’ve already moved on.
Enhance your Content Strategy - This doesn’t just mean optimizing your content, but making sure you are delivering it on the best platforms at the best time for those qualified leads. Find out what ways your personas prefer to communication. Do they like to talk on phone or do they prefer email? As for when to contact your leads, Forbes researchers say Wednesday and Thursday are the best days to call, sometime between 4pm and 6pm.
Nurture your leads - Lead Nurturing is all about understanding and accommodating your leads needs and expectations. 50% of qualified leads are not ready to buy - this is why lead nurturing is crucial to companies. The idea is to pull your lead through each step of the sales funnel so they become more qualified. You can create lead nurturing campaigns, tailored to your different personas and the stage stage of the funnel the lead is in. The goal is to listen to their needs, offer them educational advice and offers, qualify them with lead intelligence, then convert them into customers.
Do you have any tips for boosting your lead conversion? Let us know!
About the author
Lexie Carbone was formerly an Associate Consultant at SmartBug Media. Read more articles by Lexie Carbone.