Converting Leads to CustomersOleh Mykhaylovych
We all understand the importance of leads and lead generation. Numerous strategies and tactics are described by different resources. You can find your leads on your own or, even better, use our services 1000 Leads to save time and receive highly targeted leads. You can generate them via social networks, gather emails on your website, etc. So, now you have a long list of names and contact information. But what is next?
Conversion is our aim. Only after that can we talk about post-conversion, long-term relationships with our customer. Turning your leads into customers is probably the hardest and most time-consuming process that never ends. Otherwise, you are walking on the razor’s edge with several clients that you have from the very beginning. Besides this, your company has been stuck at one level and has no developmental progress what becomes not interesting even for your employees.
The other problem is that many companies are generating leads but lose up to 90% of their sales opportunities. This can be a signal to stop searching for more and more leads and instead review your strategy for converting them into customers.
To start with a review, you must target and segment
Find that file hidden on your computer with the description of your buyer persona. I know you know who this is better than anyone, but remind yourself of all the details one more time. Perhaps you have forgotten small details over time that can now be significant in the way you target and segment leads.
You can segment your leads in three ways:
- Define who they are by demographic, income and age;
- Analyze their past behaviors;
- Mix both and go deeper in your segmentation.
If you work worldwide you need to segment your leads at least by time zone and location. Perhaps because of different nationalities, you need to create different subjects and different messages.
To make it clearer, let’s take a look at an example. Imagine you are an owner of an online shoe shop. Your business specializes on footwear for men, women and children. Other than this diversification, you have different lines for different ages. As your online shop is a main sales force, you work in Europe and ship your products to the United States.
You can divide your leads into several segments that will create smaller but more targeted groups to work with. The most vivid segmentation will be by gender. As a result, you have women and men. What about children? They fall under the category of women. The next step is to segment women and men by age. Let’s begin with women. If you have teenage shoes for girls, you can start your segmentation as 14 – 18, 18 – 25, 25 – 50, and 50 and above. If you have more information about your leads, you can also divide 25 – 50 on kids/no kids. You may apply the same age segmentation for men, excluding kids.
So now we can go a bit deeper and segment these groups by location and time zones, targeting them with the right massage according to their region at the appropriate time.
Let’s assume your online shop has been working for some time and you have installed all the features of Google Analytics or other to track your visitor’s behavior. One’s you have this information you can create behavioral map and go deeper in segmentation. You can define the season when they buy more or the type of shoes that they prefer, color etc.
Any business is limited in the effort, time and resources it can spend for turning one lead into sales. Because of this it is logical to start prioritizing your leads.
It is often the case that some leads are more prepared to buy than others. One group of leads is more easygoing and time-consuming in nurturing. That is why you need to score your leads.
To achieve this, make a list that will allow you to understand what makes some of your leads better than others. Here are some common things you can use in order to begin:
- Company size, industry, location etc.
- Time they spend on a landing page
- View of product page or case study
- E-book download
- Registration for trial
- Title (decision maker or not)
- Registration of trial version
It is also worth including data from analyzing behavioral habits and geographical data. Create a table to see your top leads more vividly.
Let’s continue with shoes. You can score your leads in the following way. Score your leads by the source from which they come to you. Give scores to direct, for PPC, Social Media, depending on their value. Add to your scoring system the time they spend on your site and the pages they visit. Subscription to your newsletters has great value as well. If they leave their email they are more interested in your product; they are more interested in your product then a “just in time” purchase.
When you have small amount of your leads on your list you can use spreadsheets. When you have a larger amount, and then it would be easier for you to use CRM (Unomy, Datanyze, Builtwith etc.) for this.While creating your scoring system be aware of avoiding the following common mistakes:
- Do not separate scores for demographic and behavioral values. Demographic scores show you YOUR interest in a prospect, while behavioral scores show a prospect’s interest in YOU.
- No consideration of score value over time. It happens that the value of the score decreases over time. If leads tried your shoes yesterday and even a year ago, they should have different score value
- Over-scoring because of reputable actions. If someone clicks the same email 4 times in ten minutes should be scored the same as the one who opened 4 emails over a period of several months.
Make a pitch
Did you still present one message to your entire audience? This is a dramatically bad idea. As you already have segmented and prioritized leads, think what values brings your product to your lead groups. Next, generate different messages and use different values for them in accordance to segmentation. If you want to launch a new advertising campaign because winter comes and this is your season, you need to use different approaches for women and men; you can also create diversification by age.
One effective tactic is to customize your pitch. Everyone likes things that are tailored exactly for him. For example, you can define the location of your customer and insert his city into your message.
Your lead will feel like you are talking directly to him. That will make him feel a bit more special than others and bring you closer to him.
The other good tactic is not only to show problems you can solve but also to address potential objections that might arise. There can be several objections, and you do not need to include answers to all of them in details and make your message too long. The key point is to include in your message a short reply that shows value to your targeted audience.
A landing page is one of the most powerful tools. Once you segment your leads, create a landing page that suits your groups. Do not send emails or ads that link back to your home page. Create a special page for each campaign. You have to include content on your landing that is relevant to the message you give your targeted lead group.
Before you begin start generating your leads do research. You are already familiar with your buyer personas, you have segmented them, you have created your pitch and this is the half-way point of your research. Take some time to go through your competitors. Analyze them. This will help you put your business in the spotlight.
When creating a landing, remember the main components you should include:
Phone number. You may say that it is old-fashioned and even a bit strange if you sell a digital product. But research shows that doing so increases the trust and credibility of your offer. Even if they do not call, the presence of a phone number makes them feel more comfortable.
Forms. Ask for the minimum information. Do not overload your leads with too many questions. The less personal information you ask, the more likelihood that they will fill in this form.
Add testimonials with photos. Make you customer experience all the happiness of those who used your product.
You can use the “AIDA” rule while building your page:
Grab the attention of your leads immediately after they open your lending. This can be a powerful text or a picture. After that, gain their interest. At this point, it is better to focus on the needs of the leads and problem solving. If you cached the interest, you are close to the desire stage. Appeal to personal needs and wants to move to the action phase.
Your lending page should tell your leads that they will go from point A to Z just with one step by using your service or product. The only thing to do is to press the button and enter their credit card number.
Call to Action
You have done all the research and the bulk of the work. However, there is one thing left to do – create a CTA button. Creating the right message and right segmentation is extremely important. To manage an effective CTA, follow the main well-known points:
- Use action verbs like “register, buy, get now” etc.
- Name the CTA the same on all copies. If you called it a “promotion coupon”, then use the same at the text of the landing, Facebook and other campaigns
- Create a clear and valuable proposition
- Use words that show time sensitivity and limitations like now and today
- Make your CTA visible but not disturbing. It should be big enough to grab attention but not irritating
- Use contrasting design to distinguish your CTA from all the other parts of the landing
- Use A/B testing.
After all, one of the most important things to convert our leads to sales is to do follow-ups. Once you have caught them continue nurturing. But remain calm. There is no need to do it everyday. The common rule for follow-ups is to give at least one week before sending a reminder. You can start from the first week and then switch to once every couple of weeks. Doing this too often can become annoying. If you have a lot of leads to follow, you will probably use automation to do some actions like emails. The best form of follow-ups is to make them look personal. Use names and simple text formatting; try to be short and not take too much time for reading your mail or taking to long time on a phone call. If you have no feedback for your initial channel, try to use other channels like Twitter, LinkedIn or Facebook.
Create a plan to have answers to their objections. If you received a firm “no”, do not be persistent as this can leave an unpleasant feeling about you and your product. Whatever answer you receive say, “Thank you” for their time. You can always ask for recommendations to someone who might be interested in your product.
The easiest way to convert your leads into sales is to find the most targeted. Once you have targeted leads it is easier for you to take their attention and put them into the sales funnel. By customizing your pitch and landing page you will create the path to the bottom of the funnel more quickly and smoothly.