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What does it mean to Convert Leads online? A lead is converted online when a user sees branded content and follows a sales funnel towards a sales decision such as making contact, sharing contact information, or adding products to a cart.
Since the early pop-up ads of the 2000s, tech-savvy individuals have tried to define the best methods by which direct users towards a specific decision. Today there are thousands of options by which to attract cold leads. Spotify ads, 5-second Youtube ads, surveys, the list goes on – there are many ways to attract cold leads towards a branded content.
Leads are converted through intentional research, refined demographic identifiers, specific keyword settings, and quality ad content such as copywriting and graphics/video. This is later followed by analytic reviews that help dictate the changes that will be made to reach target audience members better. Tweaks based analytics can not only lower CPC and raise ROI, but they can also prevent ads from reaching uninterested audience members.
Businesses need leads to expand, highly qualified leads that can be converted into paying customers. Marketers and entrepreneurs have used several strategies to convert leads online and grow their business. However, before a business can start converting leads, it must first learn how to generate leads.
Lead is a person who has shown interest in a company’s services or products in any shape or form. Lead isn’t just from cold calls; it’s a product of an organization’s effort of reaching out to their customers – this may be in the form of an email, a trial, a subscription, and others.
The leads are a huge part of the sales process, and while not all leads are created equal, and not all are qualified, the goal is the same, to convert the leads and transition them from visitors to repeat customers.
Businesses use various means to generate leads, but these organizations want the same thing, to create a steady stream of sales leads. Here are some tips to help businesses start generating leads.
Determining your audience is the first step in lead generation. Businesses need to know their ideal customer to pinpoint exactly who they are targeting. They must have a clear idea of who they are, what they like, where they live, their financial capabilities, their lifestyle, and more. This information helps in piecing together a specific marketing approach.
Every lead generation campaign has different parts, and it may be difficult which parts work and which ones don’t. Successful marketing teams follow a system to categorize their leads; this is where the tools become useful. Some of the tools most helpful are CTA templates, lead generation software tools, visiting trackers, and form-scraping tools. These tools collect data to help organizations understand their target audience’s needs and determine which parts of their campaigns they need to improve for better user experience.
Promotional plans are necessary to generate leads. This helps get a company’s services and products out there and makes it accessible for the target audience. Businesses promote their brand differently, but with digital advances, these strategies often include website creation, blogs, using social media channels, webinars, events, and pay-per-click ads. Some organizations use both digital and traditional channels to reach where their target audiences are online and offline.
Social media channels are the best way to connect and engage with the target audience. Small and large businesses have used social media to spark conversation and get their customers’ perspectives on their campaigns. The channel of choice depends on the company’s niche. Facebook is the biggest of them all and most effective in reaching the general audience. There are also Twitter, Pinterest, Instagram, Snapchat, LinkedIn, and more.
The organizations’ social media pages can act as the mediator or communication line that can be used to convert leads. They can use it to find out what they need and what they’re interested in. Due to its accessibility, it’s easier to answer any queries from the prospects and the customers.
Bringing in leads is just the beginning of the sales process. Organizations don’t stop with just a lead; they ensure that the leads keep coming in. Without the leads, there is nothing to convert, which would mean a businesses’ demise. The marketing team needs to examine the process, its effectiveness, and its longevity.
Lead generation is a long-term goal, and it only lasts if there’s an effective system in place. The system may be tweaked and improved using new tools and strategies that appear now and then, but the foundation should be consistent.
In Dr. James Oldroyd’s study entitled, The Short Life on Online Sales Leads, most companies fail to convert because they don’t follow up quickly. Companies from almost all industries (finance, automobile, healthcare, software, and others) turned to digital marketing to get more leads.
Online ads spend steadily hiked up that in just a year, the total digital ad spent worldwide increased from $283.35 billion in 2018 to $333.35 billion in 2019. Companies in less-developed countries have also increased their digital ad investments and will continue to do so in the coming years.
However, attracting people to the website isn’t enough. About 74% of marketing teams focus their efforts on converting these leads. Here are some of the effective ways.
In the previously mentioned study, results have shown that out of the 2,240 companies, only 46% of them followed up the leads within 24-hours. According to PR Newswire, most B2B firms don’t fail to follow up almost 70% of their leads. These are the leads from cold calls, seminars, database purchases, and more, representing 655 of their digital marketing budget.
Speed is critical in lead conversion. The faster the company follows up, the more valuable the prospect feels. Organizations need a routine in place to have a uniform follow up time-frame. Some companies allow multiple access so that all incoming emails are responded to.
They also have other CRM tools and a WordPress plugin to automate their response and organize the emails’ status. However, Oldroyd’s study showed that a sales team member or a dedicated sales team assigned to make responses is better. The best time frame is within 5 minutes after the lead has given his/her contact details.
Results from the study of Propeller have shown that 80% of sales need five follow-ups after the initial conversation. Consistent emails related to the businesses’ products and services may remind leads and help them consider a purchase.
Choice Mutuals’ Anthony Martin also shared that a 15-minute gap between cold calls often has good results. People don’t usually pick up on the first call, especially from numbers they don’t know. Calling a second time sends a message of importance and may prompt them to answer the call.
Not all leads are qualified leads; hence, it’s important to qualify them. Time, effort, and resources are all valuable for a company, and putting all that in a wrong lead is a waste. Some leads are ready, while some aren’t.
Although other leads can still become potential customers, it is best to determine which leads are nearest to the end of the sales funnel. Often, companies assign a person to search for these people and see their interests and other relevant information that may help convert them.
These leads are sent to the sales representative team for conversion. CRM and other marketing automation tools can also be used to nurture these leads.
Oftentimes, people have to be prompted to make their decisions. Call to action buttons are prompts. They need to be concise and persuasive. Organizations put CTAs in their websites, blogs, emails, or wherever they’d be effective.
Aspects to be considered when using call-to-actions are its design and position and the copy. Effective call-to-actions are simple but attract attention. They’re also actionable and intriguing. Company websites don’t just write ‘get free’ and ‘download now.’ They combine verbs, phrases, and expressions to make enticing call-to-action buttons.
Competition is always present regardless of the market and the industry. Businesses need to identify and separate themselves from their competition. They need to offer value and put their products and services above everyone else.
Customers today support entrepreneurs and startups that share similar values and goals. A business website, blog, landing page, and CTAs must align with the organization’s target audiences’ needs and goals. The site’s content must connect to the target audience on a personal level.
Companies must also stay relevant and present in every part of the sales cycle during the prospects’ sales journey. Failure to provide relevance and value may result in a lost opportunity.
Businesses must always aim to strengthen strategies to convert leads. It’s not enough to have one solution; marketing teams must discover and rediscover new ways to continuously generate a stream of leads and nurture them. These lead conversion tips may help build a loyal customer base among new and existing leads if done correctly.