Strategic use on online marketing tools can work well to make your lead generation look good. However, unless your marketing team is able to convert these leads into customers and sales, the lead is as good as non-existing. Acquiring a high degree of conversion is of paramount importance and can work effectively even if you have a lesser amount of positive leads.
So, what can be accepted as a good conversion rate? Is 10%, the highest you can go and should be more than happy with? Well, Adwords analysis reveals that 10% is perhaps the average conversion rate of some of the top entrepreneurs. There are brands that are achieving two or three times this rate. What have they been doing that you aren’t knowledgeable of? What makes them grow exponentially while you are counted in the average? Here are some tips that should help you understand better:
It can be exciting to know that your leads from paid search are always actively searching. While they have thoroughly gone through your product, they may be looking at your competitor’s offer the very next moment. InsideSales.com however suggests that 50% of these leads would respond positively to the brand/vendor/website that responds first. You should be in a race with the clock to make this happen.
Online analytics also suggest that new leads will be 100 times more likely to respond positively if they are contacted within the first 5 minutes of their search. However, every passing second after that duration will make the lead more and more distracted.
Inbound calls in this respect should never be going to your “wait on hold” or voicemail.
To meet a 90% success rate, a sales team should be making a minimum of 12 attempts to reach out to the customers in a 10-14 day period. The problem with marketers is that most give up the hope of a sale after having tried 2.1 times. This in fact, allows only ¼ of your paid search lead to be actually contacted.
It is understandable that paid search leads are among the most expensive way “reaching out”. However, they are also the easier to close. Given the budget, it will be in the best interest of your brand to try and make the maximum effort to contact leads.
Paid search is among the best form of lead generation and this makes some ales representative getting choosy. For them, there are always enough leads to be able to ignore. However, few know that the loss can be quite expensive.
Most salesmen focus on lead that are easiest to close but that’s an amateur way of doing business. You should always be hungry and make sure that the sale-to-lead ration is kept high. Further, when you ignore a hard lead, you don’t just lose the business but also lose a long term customer to your competitor.
False promises are the worst thing you could do when trying to do business. Leads entertain your brand, hoping that it will solve a very specific problem they have been facing. However, if your stance is different after acquiring the lead and if your marketing team is trying to misguide, the consequences are disastrous.
The better you communicate with your sales team, the better will they be prepared to take the message to your audience.
The leads from paid search are often ready with the requisites to immediately buy the products or service. Thus, if you are not able to convert them in time, a competitor will certainly come to the picture.
This scenario is especially relevant when you are trying to sell expensive products and services. Be aggressive on your pursuit and don’t allow the lead to ask for alternatives and think of other choices. The faster you get to convince, the faster you get them off the market and win the game.
For digital marketers, paid search is among the most profitable means of doing business. However, without the necessary skills, preparedness and market knowledge, you investment will go to waste.