So what do you do with the 50% of your leads that may buy, but aren’t ready?
The answer is you need a Lead Conversion Process as part of your overall marketing strategy.
Lead Conversion Process
A good Lead Conversion Process should include 5 steps:
- Capture leads when they identify themselves.
- Score leads so you know who is ready for sales
- Nurture those who aren’t ready
- Refer leads to sales at the right time
- Evaluate the results from sales to close the loop on lead quality
If your process is done right you will create a better educated buyer, you will better understand your buyer’s needs, and you end up with more revenue.
So how do you do it right? I thought you would never ask.
Tips for a Great Lead Conversion Process
- Landing Pages – Use these to capture leads. If you have a compelling offer put it on a landing page. Use the “Three S” approach: simple, sweet, and short. Focus on your offer and the great reasons they should click on your Call-To-Action right now. Keep as much as possible “above the fold” so they don’t have to scroll down the page. You can build good landing pages very easily with some great tools. Here are three to get you started: Unbounce, Premise, and Formstack.
- Lead Scoring – Start by working with the sales team to define what makes a lead “sales-ready”. Create criteria for a perfect lead using demographic information, lead source information, and behavior information. If you haven’t already created an ideal customer profile that would help immensely.You should pay close attention to their actions, even more than their words. Track their email clicks, their resource downloads, and web page visits.
- Nurture Your Leads – Lead nurturing is the process of using your communication tools to build relationships with qualified prospects who are not ready to buy. Many of your leads will be in “research mode.” Don’t blow them off. Give them the educational information for your products or services that will help them learn more. Offer them evaluation tips, guidelines for best practices, research data, industry statistics, case studies, etc.Lead nurturing will help you build relationships with prospects, create understanding of needs, and help you with your lead scoring.
- Hand-off to Sales – Do not just toss the lead over the wall and leave it up to the rep to wing it! Give your reps all the information gathered in the nurturing process…all of it. Let them know what conversations have transpired online and offline, what resources they have downloaded, what emails they have responded to, etc.
- Evaluate the Results – Use the feedback from sales to evaluate and refine your lead scoring criteria. Make corrections as needed and involve sales in the process. Reassign any leads that don’t get contacted. If a lead isn’t closed within and agreed time-frame put them back into nurturing and allow your sales person to pursue other opportunities.
Remember that a good Lead Conversion Process needs to be constantly evaluated and adjusted based on market conditions and feedback. It is not a set and forget process.
If it sounds like a lot of work, it is. But the benefits are more sales with higher profit margins. Plus, you will also make your competitors crazy because they won’t be able to figure out why you are so successful…unless they read this too.
Please leave your comments and questions about lead conversion in the comment area below. Let us know about your successes too.