Top 15 Strategies to Improve Lead Conversion Rates
Lead conversion rate improvement strategies can greatly improve the profitability of your business with the lowest cost and even without additional cost.
If the conversion process of leads to customers is currently low in your business, this article can help you.
Many businesses can get the leads they need with effective advertising, but unintentionally they lose more than 95% of their opportunities and leads, and this causes the loss of hundreds, thousands, and maybe millions of dollars of capital spent on attracting leads. It has been spent.
In such a situation, you probably do not need to increase the number of opportunities and leads in your business. Instead, you need to find new strategies to convert your leads into customers.
Some businesses are able to more than double their conversion rate (an important KPI in sales) while significantly reducing their costs. Here are some strategies you can use to increase your lead conversion rate.
1- Design your sales process
This valuable diagram shows step-by-step the steps it takes to turn leads into sales. This is how you can do all the actions that are needed for each sale; How to deal with customer concerns; build trust; Understand customers' goals, needs, and desires; ensure that our product or service meets our customers' needs; Deal with their fears about making the wrong decisions; The final completion of the sale and ensuring the real satisfaction of the buyers.
With the help of the sales process map, you will be able to carefully examine your sales process from every angle so that you can manage and control each step and make it more effective so that you can anticipate customer concerns before they turn into protests. and fix
2- Measure the conversion rate
What you can measure, you can manage. Few businesses even consider conversion rate, let alone measure it accurately. Without an accurate measurement system, you can only guess at conversion rates… and that will usually be very different from reality.
Once you start measuring conversion rates, you can work on improving your performance metrics using some of the techniques we'll list below. If you can measure your achievements, you can focus on the key influencers that can make a difference… and that's the path that often changes things very quickly.
It's incredible that businesses can increase their sales by 20% just by focusing on the conversion goal. Checking the conversion rate is one of the most important strategies you should consider to improve your lead conversion rate.
Using Google organic traffic increase service for the site is also useful for improving the site's SEO and helps a lot to improve the site's conversion rate.
3- Prioritize quality leads
Wasting time on poor-quality leads is the number one factor that can affect your sales success because not all leads are lead prospects (ready to order) for your products or services. You can talk to people all day, but not make any sales unless you focus on qualified prospects.
By offering very specific offers, you can make sure that the people who complete and submit your landing page forms are those who have the desire, capacity, and motivation to buy your product or service.
4- Look for bigger goals
Even if you have the most technically advanced fishing equipment, if there are no fish in the lake, you will return empty-handed. But if you only have a simple net and the lake is full of fish, your chances of catching are much higher.
Where you cast your net to catch fish is very important and the same is true in business. Successful businesses fish where the big fish are. They talk to customers who are familiar with or use your product or service.
Successful businesses fish where the big fish are. They talk to customers who are familiar with their product or service, have already used it, or are likely to use it.
Trying to sell your product or service to people who don't need it is a waste of time. Go to customers who need what you sell. In fact, even before they meet and introduce your products, part of the sale has already been made.
5- Provide information packages
Making the right offer can improve the feedback you receive by up to 300%. However, few businesses make the effort to provide the "right offer". Most people mistakenly assume that their buyers already know everything or are not interested in reading a lot.
In fact, people interested in / needing your product/service expect more information from you so they can make an informed purchase decision.
Creating and presenting "information packages" of your knowledge and experience in the field of the product, in the form of booklets, reports, or special seminars, can be an incentive to create opportunities for product enthusiasts to contact you.
Packages that help to increase the knowledge and education of product enthusiasts and provide new ways to use the product and service can increase sales.
6- Sell all your products with a strategy
No one buys a chain ring by ring. People either buy the whole chain or they don't buy a chain. Conversion in business is the same. If you show the customer all the sales steps and he agrees to the first step, the customer has bought the chain. This is an important method in the strategy of improving lead conversion rate.
In fact, you show the sales chain to the customer, how to link the sales steps from the first agreement for the purchase order to the moment of delivery of the order and how to provide support, and then explain the first link that is connected to the last link of the chain. you sell to the customer. In fact, by selling the first link, you sell the chain and sell all your products.
7- Act with planning
A planned agenda for meetings with your customers or product stakeholders is one of the most effective yet underutilized sales tools. A planned agenda makes your sales meetings more productive, effective, and profitable.
It shows the effort and time you put into planning the meeting and has a positive impact on the client's relationship with you from the very beginning. It allows you to control the session and end the session at a predetermined time. By setting expectations right before the session begins, your conversion rate will increase. This will help you to better identify your important and main customers.
A planned agenda helps you record and track agreed actions. It also helps you look and act more professionally, thereby increasing your credibility and increasing your chances of winning the sale.
8- Explore layer by layer to understand
To successfully convert, you must first get to the core of your customer's problem or need. You need to understand all of your customer's concerns, desires, fears, and limitations.
You cannot prescribe a solution until you recognize their need. You can't turn your customer's need into a want until you know how to determine your customer's desired state.
Just as you peel back the layers of an onion, you help your client get to the bottom of the matter. Your job is like analyst, detective, psychiatrist, doctor, and archaeologist.
Ask, research, explore, diagnose and listen until you understand, then prescribe the solution and win the sale!
9- To receive valuable offers, provide valuable information
If the product or the way it is presented to the customer is weak, your chances of making a sale will be very low or zero. When you only create a page for "price quotes", you are actually asking your customers to trust you blindly when making a purchase. Because they don't really know if you're offering them a great product or a very poor product... you're asking your customers to compare you to your competitors.
If you instead educate your buyers and explain how the product can solve their main concerns and explain the true value of the product or service to customers, telling them exactly what it will do for them at each step. Give them, they will make sure your product is great.
This will help you get more offers, value the amount you charge for your service/product, and increase your conversion rate.
10- Provide training with reason to improve lead conversion rate
You are constantly trying to get customers to choose a product, and then buy products and services from your business, and you do it over and over again.
Many people are motivated to buy your product or service, but you need to give them reasons to buy that product or service from you. What do you do and why do you do it? Why do you sell and what do you sell? Why is your product or service better than others? Why should they click the buy button? Also, what are they missing out on if they don't?
The more you help your buyers achieve tangible and compelling reasons to buy, and the more you work on positioning your brand, the more people will understand the value and benefits you offer, the more trust they will have and the more they will agree with what you have to offer. You make them feel more comfortable.
11- Create irresistible offers
Remember, your prospects don't need you as much as you need them. They have tons of different options available. Until you offer them a beneficial offer to interact with your business, you should not expect them to take a step towards approaching your business.
So you have to do everything you can to create a new situation where they can't resist taking the next step.
You do this by making an offer so compelling and compelling that it would seem foolish to turn it down.
An offer that makes it more beneficial for them to acquire your product or service than to be indifferent to it, an offer that removes all the barriers they had to buy from you and makes it harder for them to say "no" to you than to say "yes" and can get results. increase up to 300%.
12- Increase your sales skills
One of the fastest ways to grow your business is to constantly put all your employees in a decentralized training process; Teaching strategic sales principles, methods, and trends. Effective selling is not only related to sales presentation training and having a clear and catchy expression. The best salespeople in the world are helpful, not pushy. They believe in their product and offer helpful advice and suggestions based on their personal experience of what really works. They provide the buyer with the information they need to make an informed decision, and they know how and when to ask the customer to place an order! By teaching these skills to all employees, you'll be amazed at the far-reaching impact they can have on your business.
13- Be critical
Creating a collection of the most powerful, focused, and persuasive sales pitches (including all the conversations you use from the beginning of the communication to the closing of the deal and beyond) will help your salespeople effectively deal with almost any objection. Have.
Because different prospects need to hear different answers, for maximum effectiveness with the wide range of potential customers you're likely to encounter, you'll need 15-20 different responses to each objection so you can immediately find the best one. Apply with the greatest effectiveness according to the customer's conditions.
Even if you can't close the sale with the help of sales pitches and presentations, it helps the process to end quickly. It also instills deep confidence in you and prepares you for the next powerful sales conversation.
14- Improve your skills
Great speakers have certain characteristics in common and have a fire within them. They speak with authority and connect with the audience through storytelling. They use their voice well and know how to overcome their fear.
Speakers know very well that what they say comprises only 7% of the communication experience, while the way you say it has 5 times more impact, and your body language comprises 55% of the total impact of your presentation.
Research also shows that people remember 20% of what they see, 20% of what they hear, and 50% of what they see and hear.
Also, using visual aids can have a far-reaching impact, allowing you to learn more information in less time.
15- Improve your phone calling skills.
A few quick calls will tell you that most businesses are not using the phone "effectively to sell." For many customer inquiries, orders, or complaints, the phone can be an important way to communicate with your business.
If you fail to handle phone calls well, many opportunities may be lost or your relationship with one of your valuable customers may be compromised.
However, you can easily improve your team members' phone skills at no cost.
This can turn the phone into one of your most powerful business tools, making every contact with your customers feel good and helping you grow your sales.