A problem that a lot of businesses face is the capability to turn their leads into sales or new clients. If you are putting copious amounts of resources into marketing and lead generation, if you can’t convert those leads you are wasting your time and money.
Establishing clear and strong conversion processes could be the missing factor that your business needs.
Factors that affect sales conversion rates
Quality of your leads
An important factor that affects your conversion rate is the quality of your leads. Are they relevant? Do they know what your company provides? This is where your marketing team comes in to generate the appropriate and relevant leads.
If your efforts are too broad you will waste time with people that aren’t actually interested. Additionally your conversion rate looks worse as if executed properly; you wouldn’t be talking with these sorts of leads anyway.
Skills of your sales department
Whether it is you or your sales department, if you notice low conversion rates your selling skills may not be able to connect with today’s buyer. This translates to not being able to engage with prospects in a sales orientated conversation and you won’t be able to discover their needs and issues. Usually when sales people lack these skills they jump into price far too quickly and only list features.
Buyers can look online for features and price they don’t need to hear it from you as well. You need to be adding value and why they should choose this certain product or service.
Leads don’t get followed up
Following up on your leads is a very important aspect that gets overlooked. Make sure you reply in a prompt matter that is valuable to the prospect.
Leaving them hanging too long to result in a loss of a potential client or sale.
Tips for upping your conversion rate
So you know what can bring you down, here are some tips to help you strive.
Look at your in-house team first
This involves analysing your brand’s mission, value and knowledge. Also address your skills, strategies and knowledge that your team has in the relevant fields.
Target market analysis
It is important to understand what types of buyers that you are appealing to and the strategies in place to get them on board. If you don’t understand this properly you run the risk of wasting time and resources.
Standing out and adding value will help your brand keep their competitive edge. When your team is ask specific questions they will be able to answer them and provide an actual insight to those that are interested. Promote value and translate that into terms that your prospects can understand.