"There is only one boss. The customer." Someone said it right. Customers are the lifeblood of business. Your business can not thrive if you don’t make new customers and don’t keep the existing ones happy. However, winning new customers is quite challenging . Here the quest begins, How to generate leads and how to convert leads into customers. Consistent flow of leads into a business translates to more customers leading to long-term success.
Once you have identified your market segment and understand the pain points and needs of your leads prospects, converting them into customers seems easy peasy but trust me; it is far from simple! Conversion of customers not only takes time but a strategic approach.
In this article, we are going to talk about the strategies that convert leads into customers but let’s start from the basics first.
What are leads and What is lead conversion?
What does a lead turn into in marketing? A ‘’Prospect’’! Leads are potential customers who show interest in your offering while lead conversion is a process in which leads convert into paying customers. You should design a rock-solid lead conversion plan if you want to convert maximum leads prospects because more conversion guarantees long-term success and maximum ROI.
What is a good lead to conversion rate?
A lead conversion rate is one of the metrics you should keep an eye on. The formula to compute the lead conversion rate is quite simple and straightforward. Divide the Number.of conversions of customers by the number of leads and multiply it by 100 to get the answer.
Now you know how to compute the lead conversion rate but you might have been thinking that what is the reasonable lead to conversion rate we should aim for?
The standard varies industry-wise and also depends upon the marketing strategy you follow. However, a good lead to conversion rate for most industries is 12% on average.
Now, let’s get to the main topic: how to convert leads into customers?
Tips to Convert Leads Into Customers
Focus on Bringing the Value
The key to convert lead into a prospect is clear communication. Communicate the value of your offering instead of hard-selling the product or service. People are least bothered for a sales rep who just wants to sell his product or service. People look for their convenience and relief so offer a solution that addresses their pain points and needs. Behave like a thought leader and expert in your field so that people may trust your suggested solution.
Learn About Your Lead
Identify the problem that your potential customer is going through. Inquire about their pain points and ask questions to break the ice. Gather complete information about the industry, challenges, likes and needs etc. Empathize with them. It is a good way to obtain awareness about their issues. Learning about the lead is how you will be able to figure out how your offering will work out for them and you will be able to address their needs and challenges in a better way. Leads that convert show a high-intent behavior at this stage.Here, You can identify them and send more qualified leads to your sales team.
Educate Them
Educate the lead about how your product or service could solve their issues.You can do it using different marketing techniques. Engage them with informative content and communication that resonates and engage them in a dialogue.
Be Patient
The lead does not convert into a customer instantly. This process takes time. A prospect thinks about your product multiple times before making a decision.So don’t rush and give time. In the meanwhile, keep the prospects informed about your offering and show them that you care. The prospects will definitely come to you with questions when they will be ready to make a purchase.
Following-up the prospects
Keep your leads engaged in a dialogue by following up through email, phone or social media platforms. Following-up is a key to convert a lead into a customer. You should follow up the leads and keep them sending soft reminders regularly. Keep them informed and make sure that you have answered all their concerns.
The Strategies to Convert Leads in To a Customer
Begin with a Solid Marketing Strategy
A carefully curated marketing strategy can do wonders. It can effectively convert your leads into customers ensuring that you don’t have to wait longer. Many businesses are selling the same product or service as yours. What can set you apart is your marketing strategy. Design a marketing plan carefully that maps out the strategies to attract leads and generate sales. Gather information to make such a robust plan that outlines how you should nurture leads throughout the journey. Ponder over the methods you are going to use for initial outreach. Send personalized messages to your leads telling them how your offering can help solve their problem.
Understand Your Audience
Once you have identified your target market segment, it is the time to gather information in order to understand your audience, their problems, needs and wants. Understanding their needs and challenges can help you identify how you should address their pain points through your offering.
The next step is to decide how to convey your message to draw your leads to your business. There are various ways through which you can convey your message. You can run an email marketing campaign and reach them through personalized emails. SEO, backed by a strong keyword research, is a lifeblood of a marketing strategy. Use the right keywords in your content to engage the right audience. This is how you can focus on those who are going to convert in to paying customers rather than wasting your efforts.
Talk to the Prospects
Talk to the leads, keep them warm and engaged by following up frequently. Address their concerns and try your best to answer all of their questions. Make them realize that you care and suggest a solution that resonates. You can do it using different communication channels like emails, calls and social media platforms. If you are using multiple platforms, make sure that the messages you convey are integrated across all the platforms.
Choose the Right Communication Channel
Communicating the value only works when you choose the right communication channel so choose the channel that your audience prefers. People are commonly using social media these days so reaching the prospects through social media handles work effectively. You can send personalized messages on Facebook or LinkedIn to keep your leads warm and improve the conversion rate.
Bonus Tip: Do not rely on one channel. Use multiple marketing channels like Print media, radio, digital media like website, emails and social media platforms. Youtube is another effective marketing channel that engages the audience well.
Monitor Your Sales Pipeline
Keep an eye on the sales pipeline because it will indicate where the lead stands in the buyer’s journey. This is how you can further identify what to do in order to move them down the sales funnel. You can tailor your strategy accordingly and improve the conversion rate effectively.
Draw and Convert Leads Using Smart Tools
You can efficiently convert your leads into customers using smart tools that draw and nurture your leads on social media platforms like Facebook or LinkedIn. These tools automate your interactions and improve engagement leading to a greater conversion.
Check out LiProspect, A LinkedIn Automation tool that can help conversion of customers by automating your outreach and interactions. It engages your audience consistently and saves a lot of time that you can invest in other important tasks.
LiProspect is packed with powerful features that add convenience to your networking. Plus, no matter what you do and what kind of business you possess, it is a tailored solution for people with different personas.
Final Words
Flow of leads into a business translates its success when you are capable of converting them into paying customers effectively. The process should be backed by a robust strategy and leveraging the technology to obtain tangible results.
We hope that our tips and strategies will work out for you and you will be able to convert your qualified leads into happy customers successfully.
Cheers.
