Most marketers and business owners already realize the necessity of lead generation for their company’s success.
However, they should also understand the importance of another critical component of their sales funnels: lead conversion.
The steps that it takes to convert leads into customers may seem arduous to some. But, in order to thrive and survive, your business needs clients.
Your business may have no trouble acquiring leads. But what if there is something “broken” in your lead nurturing process which keeps those leads from moving through the funnel?
You may be asking yourself, “Why am I unable to convert leads into customers”?
A little background on the lead conversion process may help answer that question.
What is the difference between lead generation and lead conversion?
Leads are people who express interest in learning more about your company and its solutions.
They may find your website online and either fill out your contact form, send you an email, or call you.
Or maybe you may have spoken to them on the phone through a cold call, and they agree to a meeting with you and/or your sales team.
Either way, these are leads, and they have ended up at the top of your sales funnel.
Although it is possible at this stage to automatically convert leads into customers, it is highly unlikely.
All leads are in different stages of their purchasing process when they find you; some come to you and they are ready to give you their money. Others are only at the beginning of their purchasing cycles and are simply gathering research in anticipation of a future purchase.
About half of your leads are somewhere in between.
It is these “somewhere in between leads,” that you will need to nurture. In other words, your primary role shifts so that you take these leads by the hand, so to speak, and gently guide them through your sales funnel, all the way to the bottom of the funnel.
Lead nurturing is critical during this part of this process. According to stats recently published by HubSpot, nurtured leads make 47% larger purchases than non-nurtured leads. (via The Annuitas Group).
It’s safe to say that lead nurturing makes a big difference, don’t you think?
And then, once your leads arrive at the bottom of the funnel, they are either converted into customers…or they have decided it’s time to move on.
Three ways you and your business can more successfully convert leads into customers
1) Develop and customize your sales pitch – and deliver it with confidence
Brooke’s recent post, “Sales 101: How To Communicate With Confidence” provided an excellent 5-step process for educating potential customers about your company and its products/solutions.
She explained the importance of selling them the experience of your company, as well as showing them what benefits they would receive if they do business with you, rather than your competitors.
You should also take the time to research and customize your sales pitch based on your leads’ specific wants and needs. When doing so, you are more likely to make a good impression and move them closer to conversion.
2) Convert leads into customers by creating the content they crave
Providing your leads with the content they find is most relevant (and valuable!) to them at the “right time” of their buying cycles is another good way to enhance the nurturing stage of lead conversion.
As a marketer or business owner, you need to make sure you understand your potential customers’ purchasing cycles. This helps you create the content they really want when they want it.
Think of how you can use content to interact with your leads and encourage open lines of communication.
3) Keep your online audience coming back for more
Without a doubt, understanding Google Analytics and the various reports and statistics related to your website traffic is a must. This helps you determine which type(s) of content your audience – and potential customers – finds to be most useful.
Taking these actions provides you with better opportunities for achieving both lead generation and lead conversion.
Plus, it’s a win-win situation since your audience will find value and education (and possibly entertainment!) when visiting your site and viewing your content.
So, are you ready to take your leads through the journey towards lead conversion?
Which path do you think might work best for you and your business to convert leads into customers? I would love to hear your thoughts. Please feel free to leave your comments below.
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[…] The steps that it takes to convert leads into customers may seem arduous to some. But, in order to thrive and survive, your business needs clients. […]
Great info, Jennifer! I am constantly tweaking my lead nurturing process. I will find the sweet spot eventually. Thanks for sharing!
Finding that “sweet spot” isn’t easy, but once you find it…then boom! That’s where the magic happens for you *and* your potential customer(s). Appreciate the comments and glad you found my post to be useful, Dennis.