Five Lead Conversion Tips

Converting leads into sales is a key part of client acquisition. Here are five tips that will help your lead conversion rate.

These simple tips aren't intended to cure immediate lead conversion challenges. Rather they will provide a business owner with a long-term context for maximizing lead conversion rate.

Tip #1: Your Ideal Customer
Your business has an ideal customer. How well do you 'know' them? If the answer is 'not well', you need to find out their demographics. Know their income, where they live, their occupation, their lifestyle, their buying habits and other data regarding their financial circumstances. This data will become your Central Demographic Model CDM. Along with your ideal customer's CDM, you will want to know their Central Psychographic Model CPM as well. The CPM defines their behaviors, their clear preferences and other psychological factors that influence their purchasing decisions. Taken together, your ideal customer's CDM and CPM can provide you with significant insights to increase your lead conversion rate.

Tip #2: Your Sales System
Your business needs a systematic approach to making and tracking sales. Once created, and then perfected, this sales system needs to be rigorously replicated for each sales lead. Everyone involved in sales needs to know the system, its messaging and what makes your business stand out from the competition. Your sales message should be based on the knowledge gained from your customers' CDM and CPM. And of course everyone in the organization sells. Any staff member becomes part of your sales force when interacting with vendors, colleagues or sales leads.
As we emphasize in Mastery Impact you and your employees reflect your business and your systems.

Tip #3: Sales Milestones
Your sales system needs to have established milestones that mark the key events in the sales process. Milestones will enable you to understand how far along your prospects are in the sales cycle, and enable you to more accurately forecast sales for strategic planning purposes. Key milestones should include

  • Lead categorization (high-value vs. low-value)
  • Sales message delivery
  • Contact history
  • Appointments made
  • Closing calls made
  • Contracts sent
  • Sales completed

Tip #4: Know Why They Buy
You need to understand why your customers buy your products and services. Essentially, your customers buy your products for the benefits they believe they will obtain. For instance, most people are not interested in owning 1/4" drill bits per se; rather, they purchase the ability to make 1/4" holes. People buy the benefits of drill bits, and they buy the benefits of your products. Sales messaging should trumpet the benefits of buying your products and services.

Tip #5: Know Why They Don't Buy
You need to know why prospects don't turn into customers. The milestones in your sales system will give you insight into where and why your leads drop from your sales process. Knowing why someone doesn't buy from you is important knowledge too. If you know why prospects drop from your sales system, and at which point in the cycle, you have a big clue as to what do next.

Contact us at E-Myth Worldwide to find out how we can help you obtain better business results.

Press Contact

Justin Dye
E-Myth Worldwide
541.552.4636

jdye@e-myth.com


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