Common Lead Conversion Strategies for Small Business
Lead generation can be referred to the strategies and techniques carried out by small businesses to build interest revolving around their product or service among prospects, turning them into customers. It’s the act of identifying potential customers based on their actions such as intent to purchase your services, and gently guiding them along the engagement funnel until they become customers. Lead conversion is one of the digital marketing ideas for small business to improve their sales.
Lead generation for small businesses is important for a variety of reasons:
- To engage with potential customers in personalized ways
- To increase your client base
- To build revenue for your business
Many businesses have been spending time and effort into getting more leads but not converting the hard earned leads into customers. Sometimes, you do not need additional leads or prospects at all; instead what is needed is just better ways to convert a larger portion of your prospects into customers. To raise your conversion rates while reducing the cost of acquiring those customers, here are a few lead conversion strategies you can use.
Identify the Right Target Market
Business strategy, means of communication, products, and service offerings are all created with the right target market in mind. Just as how you create your brand, leads must be properly defined in order for you to capture them. The target market of your brand is the particular group of people within the entire economic market which you, as a business enterprise, aim to connect and provide marketing and sales efforts onto.
Find Your Ready Market
Focus on those who have an awareness of your products or services, who are familiar, or have a higher chance of using it. Try to spend less time with those who don’t need your services or products. Spotting the right lead is the first step. This should then be followed by attracting and nurturing it for a better chance of conversion.
Know the Lead Conversion Path
The process by which a guest or visitor to your page becomes a known lead is the conversion path. It begins when a visitor sees content that interests them, and then clicks on this content for further information. The visitor is taken to a landing page, wherein that individual will be asked for further customer details in exchange for the information which originally drew the visitor to the page in the first place. This is basically how the lead conversion strategies work.
The lead conversion path has three basic phases, as follows:
- Content Offer: Your content must be interesting enough to capture the attention of your customers.
- Call-To-Action: Call-to-action are the buttons or links which your customer can click to direct them to a more comprehensive site – your landing page.
- Landing Page: This is a page on your website which collects information from customers in exchange for the information, product or service the customer needs.
- Thank You Page: This page moves the customer further in the purchase process.
Use Lead Scoring
A good conversion rate of your leads is highly affected by how you score your leads. Lead Scoring allows you to determine the value and importance of your leads. Lead scoring can increase
- Effectiveness of marketing strategies
- Collaboration between marketing and sales
- Effectiveness of sales strategies
- Return on investment
Integrate Your CRM Database and MAP
To simply define this, the integration of your CRM database to your Marketing Automation Platform allows you to
use your leads wisely. The CRM database is the pool of customer details you obtain from lead generation, technologies, and programs. You may also use CRM systems which compile relevant information about customers from different channels including direct email, social media pages, website, live chat, blogs and the like.
By understanding your CRM database and synergizing it effectively with your chosen Marketing Automation Platform, you will be able to use your leads well and convert them faster to sales.
Use the Customer Preferred Communication Channels
Being on top of the game means knowing who your customers are, where they are and how they can be reached. Study says that customers have their own channel preferences. So if you do not want to be left behind, stay on top of the game and know what your customers want. Reach out to them through their preferred communication channel.
A crafty follow-up is not about pushing your clients and making every call sale. It is about being proactive in providing your customers with the things they need or a solution to their problems. Just let them know that you are around to remind them about your services or offers.
Measure the Rate of Conversion
Measure your efforts so that you can manage the results well. Use analytics in measuring your lead conversion rate. You can identify a clear rate of conversion measurement through various analytics sites.
Your brand can market itself if you have great reviews. The more people give positive feedback about you, the more trust you gain from your target market. The positive feedback your satisfied customers give you is equivalent to good word-of-mouth. Shoppers often check, before making the decision to purchase, Google Reviews, Facebook Star Rating or Yelp Reviews.
While the above are some of the great tips for lead conversion strategies for small businesses, it’s absolutely necessary to keep testing and retesting a combination of different techniques to see what works best for you.
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About the Author
I am Auggie Diaz, Owner, and Senior Internet Marketing Consultant at Ask8.com - a digital marketing firm that helps small businesses to generate traffic through cutting edge marketing tools. As A Consultant & Tech Coordinator To The Largest Real Estate Agency on Long Island NY, As A Consultant to Allstate Insurance Agencies & A Small Businesses Owner/Senior Manager of 25+ Years. I speak to topics based on my experience, not opinion. All the best to your success!