Getting new customer leads is exciting, but that enthusiasm can quickly wither when you don’t know how to best convert leads into new clients.
When this becomes the trend for your small business, you immediately ask, “why?” before seeking out solutions to combat your lack of sales from leads, you should be aware of some important sales conversion facts:
Online leads do not automatically translate into sales.
Per Marketo, only 25% of leads ready to buy from you.
1/4 of leads are qualified, meaning approximately 75% aren’t your ideal customer.
Now, don’t let these numbers frighten you. In addition to this, you must understand the psychology behind the lack of leads turning into sales.
The Real Reason Why People Won’t Buy from You
There are four primary reasons why small businesses fail to convert leads online. These sales barriers are as follows:
Trust: People don’t trust themselves, so how do you expect them to trust you immediately upon connecting with your business for the first time? Traffic to your website may not always translate into sales if your leads are reluctant to buy from you. The absence of trust can stem from a lack of proof showing you do what you claim, lack of contact information, a poorly designed website, or non-targeted content.
Authority: If you don’t establish yourself as the authority in your field, through quality content, you will find it quite hard to gain customers, because they may see you as untrustworthy.
Money: If your price doesn’t match the perceived value of your products or services, you are likely to miss out on sales.
Time: If the customers feel that the time is not right, they are likely not to purchase.
Turning Leads into Sales: 4 Key Strategies
There are four solutions for converting online leads, which when used together, can increase your sales conversion rates:
Sales Qualification Process
Email Marketing Solutions
#1. Develop Trust with Social Proof (Testimonials and Reviews)
Building a reliable brand will ultimately make it easier for you to market your product or services.
One of the best and easiest ways to build trust is through social proof, specifically reviews, and testimonials from your current or previous clients. Social proof will not only confirm that you’re talking the talk, but that you’re walking the walk.
When someone encounters your brand for the first time through your website, you need to: 1) show that you’re an authority, and 2) provide social proof.
Let your current customers sing your praises by encouraging them to write a review or testimonial through email, on Yelp, Facebook, or any other relevant review site. For those “special” reviews, showcase them on your website. Do not worry about getting one or two negative reviews.
This might work to your advantage, in that, they persuade leads to believe that your reviews are reputable. If people see that others are buying your products and enjoying them, they can be persuaded to follow suit.
Invest your time in writing well-researched and helpful blog content and eBooks. If your leads find that you are knowledgeable in your industry and in the various products that you’re selling, then they will believe in your ability to provide quality products.
You can hire marketing agencies to write blog posts for you. Or, you can learn simple shortcuts and time saving templates to train you and/or your marketing assistant to turn your knowledge into written blog articles for your business website.
#3. Utilize a Sales Qualification Process
One of the most crucial strategies for converting leads into sales is to have a qualification process. Lead qualification is the evaluation of the ability of a lead to purchase from you.
The qualification process involves gathering the necessary information about your leads to move them through the sales process. There are three types of leads: Information Qualified Leads (IQL), Marketing Qualified Lead (MQL), Sales Qualified Lead (SQL). How each is determined varies from business to business. Once your qualification metrics are defined, only then will you be able to take appropriate action that will convert your leads into sales.
Using a sales qualification process prevents you from coming on too strong and putting off potential clients. It also helps your sales team save valuable time and instead focus it on customers who are ready to buy.
Email nurturing is one of the greatest tools that you can use to convert leads into sales.
It’s all about leveraging marketing automation to follow up and remain in contact with any leads that come through your sales funnel. If you follow up with leads within 5 minutes, you are 9 times more likely to get a sale.
Strategically sending your clients or customer regular emails will drill information about your business and your services or products into their minds. The more they hear from you, the more they are likely to buy. You want to send targeted emails, to targeted email lists, based on where they are in your sales funnel and how they interact with your emails.
These emails can be anything from newsletters to content offers. The purpose of this strategy is to guarantee the right lead is receiving the right email at the right time.
The Bottom Line
Today, even though most marketing efforts are online, customers still need to feel that personal touch. By incorporating these few lead conversion ideas into your business strategy will help to ensure that you not only have thousands of people stopping by your website, but you will have them laying down their money!
QUESTION: What is your favorite strategy that’s been working for you in your business when it comes to converting leads into sales? Share your comments and questions below.
Author Bio: ShaDrena Simon is a digital strategist and inbound marketer for Yokel Local Internet Marketing Inc. You can reach her at: firstname.lastname@example.org
As a business owner it’s so important to always be seeking business growth advice from people who have already “been there- done that”.
I recently spent a week with the world’s top franchise owners at the International Franchising Association conference held in Las Vegas and wanted to share 2 value bombs with you for your business.
The agenda was jam packed with a massive amount of content and sage business growth advice featuring a panel of CEO’s from some of the world’s biggest franchise brands.
A common question the audience asked these superstar CEO’s in many of the sessions was if they could summarize one or two keys to success to help them grow their own businesses, what would it be?
The audience grew hush as they listened intently to hear the business growth advice from experts like …
Steve Hockett, the President of Great Clips (4,090 locations)
Gordon Logan, the CEO of Sports Clips (1,600 locations) and
Steve White, President of Puroclean (235 locations)
What’s interesting is how many CEO’s responded with the same answers. What’s surprising is how simple their advice was.
And yet, overflowing with pure wisdom. Here are two pieces of business growth advice that many of the top CEO’s shared in the Q&A sessions:
#1. Create SYSTEMS in your business.
I loved their answer because I too love systems! The word SYSTEMSstand for:
A system is great because you don’t have to re-invent the wheel every month to create the next windfall of sales and profits. You simply rinse and repeat the same process within your system.
In order for a system to be a SYSTEM it has to first work … (no brainer there, right?)
Second, your system has to be easily repeatable and scalable. In my past businesses this was the magic test that allowed me to remove myself from the businesses I owned then, so I could cut back to working only 10-15 hours a week which allowed me to spend more time with my kids when they were little. All while my business doubled in sales four years in a row.
I mention that not to be self promotional, but to impress upon you that the concept of working less while earning more is achievable. That’s what creating SYSTEMS can do for your business and for your life.
Ok, so when these top CEO’s were asked to summarize one or two tips here was the second business growth advice that was repeated over and over again:
#2. Hire a business consultant / business coach.
Wow! This was the second most repeated business growth advice I heard throughout the conference. (But, of course, my reticular activating system is pretty engaged for that too 🙂
They couldn’t have said it any clearer when they shared, “If you want to succeed faster, hire a business consultant / business coach.”
As the business owner, you’re just too close to your business to be able to see the forest through the trees. You need an outside perspective to give you the guidance, strategy, course correction and coaching.
As an entrepreneur you also don’t have a boss you have to answer to — which is a double edged sword. It’s great and liberating to be your own boss, but it can also be dangerous because it’s easy to let yourself get distracted, dis-focused and take detours that happen with the “shiny object syndrome”.
So, if you’re ready to follow the business growth advice from CEO’s of some of the world’s biggest franchise brands I invite you to a complimentary business coaching discovery call with me.
On the call you get to share your goals — where you’d like your business to be in 1 year and in 3 years.
We can take a look at what systems you have developed so far (if any). We’ll identify the biggest challenges that are getting in the way of achieving your goal and what the process would look like that will help you hit your sales and business growth goals.
You can also take advantage of the call to ask me any question you want that’s been nagging at you.
By the end of our call we will both know whether you and I are the right fit.
I only work with people I know I can help, so when you click the link above it will ask you to fill out a few questions about you and your business. Once you answer a few question you click the orange button that takes you straight to my calendar.
Pretty easy, right?
Ok, so if you have any questions or comments I invite you to share them in the comment box below:
QUESTION: What advice do you need right now to accelerate your business growth? (include what kind of business you have) Please share your comments and questions below.
How do you know whether or not you created the right action plans that will help you achieve your business goals most effectively? That’s this week’s question submitted by Stacy from Atlanta, GA.
Reality is, if you’re pursuing a new goal that you’ve never achieved before, you just won’t know what you don’t know. You could certainly move forward on pure intuition while trying to piece together bits of tips from various free content you’ve found. However, I don’t recommend doing that.
Trial and error always ends up being way more time consuming. And for most people, it usually leads to making costly mistakes. It’s an age old truth.
There is a way that appears to be right, but in the end it leads to death.” Proverbs 14:12
The risk of prolonged lack of progress and costly mistakes, for many people leads them to give up which means the death of their dreams.
I don’t want to see “death of a dream” happen to you. So, let’s dive right into this week’s episode to help you:
Create Right Action Plans to Achieve Your Business Goals
If you don’t know how to create high performing teams then managing a staff will quickly feel like a burden and drain your time, energy and money. But, the alternative is just not acceptable either.
You don’t want to resort to wearing all the hats in your business or you’ll quickly burn out and so will your sales. Trying to grow your business all by yourself is definitely the LONG, SLOW way to go. Even if you are running a solo practice you’ll grow your business much faster with a small team of just you and one other person.
When you create high performing teams you no longer have to “babysit” your staff or waste precious hours each week chasing after them to meet deadlines.
If you want to know the secret to creating high performing teams — onsite employees or a virtual team, then don’t miss this week’s Q&A episode.
This might sounds like a simple question, but it is definitely not a one answer solution.
In this week’s Q&A episode you’ll discover:
* Strategies for holding your virtual assistant (and onsite team) accountable, so you don’t have to constantly follow up with them. * How to build team morale even when everyone is living thousands of miles away from each other. * Plus! I have a special free 11-point checklist you can download to help you create your very own high performing team!
Click the audio or video below.
Then, be sure to share your questions and comments below. I’d love to know what your biggest challenges are when it comes to managing your team.
PS. Ok, I gotta tell you … I am loving recording these Q&A episodes for you!
This feels so much more interactive for me to hear your questions directly from your voice messages. The feedback I’ve gotten so far is that you love being able to listen on the go. And, many of you shared you like that I do a much deeper dive on the audio than I can typically cover in a text only blog.
I have to say, it’s definitely a win-win because these audio and video sessions are so much faster for me to record than writing everything out on a regular blog. (Believe it or not, I am a painfully slow writer!)
So, as long as you guys keep sending me questions I will keep sending you the mini lessons through the audio blog and vlog format.
Signs you need to find right virtual assistants: You’re drowning in an endless to-do list … you feel overwhelmed all the time … you always feel behind in hitting your goals … you’re stuck spinning your wheels … you’re exhausted and feeling burned out … you wear every hat in your business.
If any of those sound like you, then it’s definitely time to hire help!
Oh, and by the way, in case you’re not familiar with the term “virtual assistant” it’s just someone you hire who works virtually. So, they can work from their home and you don’t need to dedicate a full office space to bring on more help.
So, this week’s Q&A episode I answer Morgan Robinson’s question about how to find right virtual assistants. You’ll discover key tips on how to figure out what type of VA you need, best places to find right virtual assistants, my simple process for determining the right and wrong hires and how to set yourself up for success working with a new virtual assistant.
NOTE: If you prefer to hire someone to work at your physical location, these same tips actually apply to both scenarios. I also shared different answers on this similar topic in this previous episode. Listen to Hiring Tips here
This week’s Q&A episode is for you if:
you’re ready to hire your first virtual assistant, but you don’t know how to start
you’ve tried hiring people before with frustrating results
you know you just can’t do it all by yourselfOk, now let’s dive into this week’s Q&A episode.Grab a pen and paper and get ready to take some notes. Then be sure to share your comments and questions below. I’d love to know your greatest take-aways or specific points you’d like to get more clarity on.
Click the play button below to listen to the
AUDIO BLOG on How to Find Right Virtual Assistants:
Watch the VLOG on How to Find Right Virtual Assistants Here: