Our ultimate goal remains to get SALES from the moment we begin the business till wherever it goes! Until now, you must have been following a lead strategy to get more leads for your business and convert them into a customer eventually.
We’ve always noticed that our sellers focus on getting traffic on their website and receiving inquiries as leads start pouring in! That’s really great, but what next? If you have the same question in your head, then this blog is all for you.
The journey from a lead to sales passes through a funnel, which in marketing terms is known as sales funnel. As we begin, let’s first understand what does a sales funnel looks like:
Every customer goes through different stages before deciding to purchase your product. And this is called a sales funnel. In a Lehman language, you pour a large quantity of something into the funnel to filter and receive the end goal. Similarly, in marketing, we create a sales funnel of different stages where a large set of audiences go through different stages, and only a certain percentage of your leads will buy the product from you.
We continuously focused on stages of the sales funnel; now, let’s dive deeper to cover these stages:
A sales funnel comprised of four stages:
- Sales Funnel:
- To make your sales funnel do wonders, we take you through 5 steps to create your funnel strategy:
- Lead Conversion Strategies:
To make your sales funnel do wonders, we take you through 5 steps to create your funnel strategy:
1) Research Your Target Audience:
It all begins with understanding what you sell and to whom you want to sell your products. At times, you might be overwhelmed on how to figure out the ideal audience that may convert for you. To give you answers, we have got a list of questions you need to ask yourself while selecting your ideal audience:
- What are the pain points?
- Where do their interests lie
- What and how much are their expectations
- Which social media platforms do they use?
After you’ve thoroughly understood your ideal audience for your product, the second stage is to create the buyer’s persona.
2) Create buyer personas
Before we talk about how to create a buyer’s persona, let’s begin by understanding a buyer persona.
A buyer’s persona is known as a detailed description of someone who represents your audience. They are not your customers yet, but you create a representation of your potential customers. Like you give the name, demographic details, their behaviour and interests.
This will help you understand their goals, pain points and buying patterns. There is also another way to do it by asking questions to yourself, and they are:
- Why do they prefer to buy the product
- Different possibilities of using your product
- What can inspire them to purchase your product
3) Plan A Lead Generation Strategy
Once you’ve defined your audience and research is in place, the next step leads us to focus on traffic to your website, which gets you leads. To increase the traffic to your website, which eventually boosts the leads are through the following methods:
- Pay per click campaigns
- Social media marketing and advertising
- Influencer marketing
- Landing page optimization
- SEO (Search engine optimization)
- Guest posting
4) Create a strategy to engage leads
After creating the leads, it is vital to engage the leads received and to go about it, you can:
- Create engaging content
- Create infographics – informational content
- Use social mediums to share posts with your audience
- Share your products with the influencers for reviews and tutorials about your products.
- Utilize an email marketing strategy to promote your content
5) Convert leads to your loyal customers
This brings us to the final step, which is to convert leads into customers. To the final leg of the sales funnel, note it to make your lead your ideal customers. You can do it by:
- Offer one-click signup and sign in options
- Minimize the form fields
- Simply the checkouts on your website
We’ve understood how to convert leads into sales, but how to make the calculations? Here’s where we talk about calculating the lead conversion:
To calculate the lead conversion rate:
- Take the total number of conversions made.
- Divide the same by the total number of leads.
- Multiply by 100.
- The final number that you receive is your lead conversion rate.
For example, let’s consider that you’ve received 100 qualified leads for a month. From those qualified leads, 20 became your customers so that the formula will look like 20/100*100. This means the lead conversion rate for that particular month will be 20%.
Average Lead conversion rates:
Considering one ratio will not provide optimum results, so opt for various touchpoints that can be used across the industries.
Your brand/ company will benefit if you use the conversion rates by every channel like email conversion versus landing page and other conversion factors too.
Lead Conversion Strategies:
There are different conversion strategies for your prospective clients; let’s begin:
Automation is a great way to save time and scale up your sales. For example, let’s consider that your lead, after reading a testimonial, moves to your website and shows some interest in your product. Keeping this in mind, automate your follow up email for your lead to take them closer to make a purchase. You can decide whether it could be a demo, freebie or trial offer.
According to research, behaviour based emails perform better than any other type of automated email. Views/impressions on the pricing page don’t require an automated follow-up email; even the views on customer stories can be a part of your strategy.
Let’s look at the list of behaviours that help you convert into a sale through automation.
- Sign up for a free trial
- A product demo
- Stays tuned with your email marketing campaign
- Pricing page reviews
- Product inquiry through any channel
- Make a download of any high intent content
Work with your marketing/ sales team to trace the key behaviours which can be automated for easy follow-ups.
Engage your leads through email
Nurturing your leads through email marketing to make them your customers. When creating a strategy to nurture your leads to email, make sure to offer them valuable content to convert as your customer. Here’s where the data comes into action. Use the information you’ve collected about your leads so far and deliver the content that generates their interest and solves the problem.
We’ve compiled a few tips for your email to do wonders, and they are:
- Add personalization to your email. Like adding a name.
- Automate your trigger actions based on engagement
- Make segments of your email list.
Leads hear what your customers are talking about
Before your leads decide to turn into your customer, they look for social proof that includes reviews and customer testimonials to help them make an easy purchase decision. Testimonials are best used when leads are close to making the purchase decision. And this is why you often see reviews on pricing or landing pages.
Opt for Retargeting Through Google Adwords
Reaching to your leads through retargeting is a great way to remind them about the purchase. While retargeting your ads, you make them reintroduce your order to them, making their purchase decision stronger.
Getting customers to pay will be easy if you’ve followed every sale funnel step with an effective strategy.
Using the simple strategies mentioned above will help you find your ideal target audience, get more customers, and stand out from our competitors.
If you’d like more information on how to get started, reach out to us.
Before we end the blog here, tell us which effective strategy you will try using today?