There is a way for your business to increase conversion rates by 1.5 to 3 times current rates – and it doesn’t require additional resources.
Some are calling it ‘engagement’. Others are calling it ‘nurturing leads’.
Where I come from, we call it ‘working smarter than the competition.’
Creating a steady flow of sales
Our job, as sales and marketing professionals, is to make sure that when the time comes for the buyer to buy, our organization is #1 on the buyers’ list.
That purchase might come today. It might come tomorrow. Or it might come later this year.
But no matter when, we want to make sure that we get the business.
Step 1: Let Your Sales Staff Sell
We hire sales people to sell. We evaluate and compensate them based on performance. Yet most organizations hand all inquiries to sales at one time and ask them to weed through and find those that are ready to buy today.
This wastes time and that’s not productive.
Instead, separate those that will buy today from those that will buy tomorrow. Then give today’s buyers to sales so they can close the deal and take the rest of the buyers into a well planned lead management/nurturing/engagement process.
Step 2: Creativity, Relevancy and Involvement
Most organizations will add buyers to their promotional mailing list so they receive countless emails and direct mail packages focused on ‘this week’s special’.
That’s one-way communication that is rather boring, typically lacks relevance and fails to motivate the buyer to become involved. Your resources can be invested in more productive endeavors.
Ask the buyer what’s important to them. Ask them how you can help – beyond selling them your products and services. Identify an unmet need and provide a solution!
Use off-line and online communication channels. Mix it up – variety is the spice of life.
Surveys, white papers, webcasts and podcasts, live events…share unique value and show off your organization’s strengths.
Yes, you can also mention ‘this week’s specials’ but now that’s surrounded by something larger, more valuable and unique that the buyer will remember when it comes time to buy.
Conclusion
Research tells us that fewer than 25% of businesses have lead nurturing programs. Research also tells us that 40-80% of your leads are not planning to make their next purchase for at least 90 days – and some for up to 18 months.
You want to be the buyer’s #1 choice when the time to buy arrives – and you need to differentiate your organization from the competition over a prolonged period of time.
Does it make sense to spend your limited resources on blanketing the world with weekly sales promotions 0r does it make more sense to use the same resources on providing unique value that builds trust over a longer period of time?
