Converting shoppers into paying customers is very common problem in online businesses. After you've generated leads online using tried-and-true marketing tactics, you'll need to take action to turn those leads into paying clients.
But what's the best way to go about it?
New contacts are only beneficial to your business's bottom line if you can convert them into paying customers or brand supporters, so it's critical to get this aspect of the marketing and sales process right.
Here are seven suggestions for converting shoppers into paying customers.
Leads hate of being kept waiting.
If you wait too long to engage the leads created by your web marketing campaigns, they may lose interest or switch to a rival.
Customer relationship management (CRM) software can assist you in keeping track of your contacts so that their indications of interest aren't lost in an overflowing inbox.
If you choose to manage new subscribers obtained through your website using a basic email system, try routing communications from these contacts to a priority inbox rather than the general inbox so that they may be dealt with as soon as possible, preferably within an hour.
Marketing-qualified leads (MQLs) and sales-qualified leads (SQLs) are two types of leads that can help you enhance your conversion rate. Each of these groups is at a different point in the sales cycle, and as a result, your sales team must take a different strategy.
Someone who has downloaded a free white paper from your website to learn more about the solutions your organization provides is an example of an MQL. Because they are still in the research stage of their buying journey, this type of customer may respond favorably to an offer of additional information but may be turned off by pressured sales approaches.
Because 50% of new leads aren't ready to buy yet, it's not always a good idea to try to close the deal. Provide the MQL with useful information that will subtly remind them of a need or problem that your product or service can solve.
SQLs, on the other hand, maybe customers who have already spoken with a sales representative and want to set up a meeting to discuss their options and negotiate prices.
These leads should be given immediate attention by your sales team because they may be ready to close.
You can help pinpoint a prospect's position in the sales funnel by categorizing them into MQLs and SQLs, which allows you to reach out with information that is relevant to them. This reduces the risk of annoying people who are already ready to buy with the information they already know by launching into a hard-sell approach at an early stage of their buying journey.
Your sales staff has two critical responsibilities:
You could find it advantageous to divide your sales staff into two sub-teams, one that concentrates on new clients and the other on current customer connections, to make it simpler for them to manage these two objectives.
Because your salespeople don't have to figure out which group to focus on, imposing this structure on your sales force can enhance response times for priority prospects.
However, having the same contact person throughout the customer's lifetime is a good idea to establish a more personal relationship with the client. When a lead becomes a client, they may find it weird if their company's contact person isn't the same as the one who made the original contact.
Another option is to separate your staff by industry, so that each sales agent is assigned to a certain industry that is straightforward to track. This method ensures that the same point of contact is maintained throughout the customer's lifespan. Furthermore, it qualifies salespeople as experts in their field, which benefits both the potential customer and the salesperson.
A sales representative will be assigned to the possible new customer who is familiar with their industry and the issues that it faces. As a result, the sales representative can anticipate queries about the client's problems. Finally, he or she will be more effective in resolving difficulties of conquering obstacles.
You shouldn't give up if you reach out to a new contact and they don't respond. Send another email or phone at a different time; it's possible that the individual was simply unavailable when you originally tried to contact them.
You should also make an effort to build your lead relationships as much as feasible. During a sales call, for example, you may ask whether you can add the individual to your mailing list, which will provide you another opportunity to communicate with them.
While putting too much pressure on new contacts to buy is rarely a good idea, following up with them helps to keep your brand in their minds and may boost the likelihood that they will convert when they are ready.
People, regardless of their position in a firm, are more likely to consider the product or service that their company provides.
That, however, is a huge blunder.
It's not a good idea to try to sell a product or service.
Instead, direct your attention to the potential client's problems that your product or service can answer.
What are their everyday aches and pains?
What do they want to accomplish?
And how can you assist them in obtaining their goals?
To put it another way, "what's in it for them?"
So, rather than focusing on what you want to accomplish, consider what the potential customer wants to achieve.
It's a radical departure from typical sales thinking, and transitioning to it might be difficult. But, in the end, it will pay off, because customers are increasingly seeking for solutions rather than products.
This brings us to the next point: pay attention.
Listening is another crucial factor to consider if you want to convert your leads into paying clients.
I mean, genuinely pay attention.
Rather of merely droning on with your sales presentation, listen to what the prospect has to say.
Rather than focusing on your objectives, listen to what your contact has to say and see if you can pick up on their true aches and issues (which your product or service can solve).
Maybe the possible customer is hinting at an underlying problem for which they haven't found a solution and aren't willing to talk about it?
It is your responsibility to educate the contact about the problem that your service, solution, or product addresses.
Data can assist you figure out how effectively your online lead conversion methods are working.
Create dashboards using analytics tools to illustrate how many leads enter your CRM system at each level of the sales funnel and how many of them convert to paying clients.
You can readily determine which areas of your sales funnel are leaking leads when data is presented simply in a dashboard. This helps you to concentrate your efforts on contacting those prospects who are most likely to convert.
Once you've created a lead dashboard, you'll need to keep it up to date and check it on a regular basis to track your success. Make data a regular part of your sales meetings so that everyone on the team has a clear picture of the current position and can recommend ways to convert leads from different areas of the sales funnel.