How can I increase my lead conversion rate?
Let us count the ways.
1. Lead Acquisition
Are your leads even coming into a lead management system?
Leads that go into a busy salesperson's inbox - email or CRM - get mixed in with all the other distractions, and processed with no additional urgency.
2. Lead Grading
New leads, without evaluation, based on the performance of similar leads in the past, are left to the fate of a salesperson's inexperience or cognitive bias.
3. Lead Prioritization
New leads co-mingled with existing opportunities and aged leads, without prioritization, become overwhelming.
In this state of chaos, people default to inaction, procrastination, or attempt to create an order with any available feedback (often misinterpreted).
4. Lead Distribution
Hard to believe, but most leads never make it to the sales team.
They sit aging in a sales director's CRM or email inbox, waiting for allocation.
But, there is no system and so the decision, mixed with other distractions, becomes overwhelming friction.
5. Contact strategy
In the lead gen world, we're fond of advocating: "Speed to lead."
Traditionally, we interrupt this as a lightning-fast call back on a web form fill.
Unfortunately, we often abuse technology to generate a crushing number of calls, typically to our detriment.
6. Sales Scripts
Sales scripts are probably one of the most polarizing topics in sales.
Despite where you might align on this topic, you need to achieve consistency in your sales process to generate a good dataset for optimization.
Sales scripts are a great first step.
7. Sales Automation
Salespeople want to have productive conversations about products and services.
They don't want to write and send a bunch of outreach messages. Or, schedule and manage meetings.
But, little worker bots don't mind. Find opportunities to automate the routine.
8. Lead Nurturing
Leads never die, we just stop talking to them.
Prospects' situations, circumstances, pain points, and priorities change, making them more or less responsive over time.
Nurture, or when they're ready they'll go back to Google instead of reaching back to you.
9. Lead Redistribution
You probably will never know for sure, but sometimes the match between the salesperson and the prospect just isn't right.
For this very subjective distribution error, the best solution is redistribution.
Sometimes we call this strategy a "second voice."
Like lead nurturing and redistribution, remarketing gives us another bite at the apple.
Take another angle or feature a different pain point.
As prospects' situations change, their need and urgency for your product or service often.
Where is your favorite place to optimize your sales operations?