According to the Small Business Trends (SBT), only 2% of customers purchase at the first point of contact. In other words, if you don’t follow up on your sales leads, you will be losing about 98% of them.
While purchasing a product or service, consumers usually go through a 5-stage decision-making process. As such, following up can help hasten the process and even compel prospective customers to make purchases. Moreover, once you successfully generate leads for your business, you should effectively manage them in order to boost your sales conversion rate.
Here are 10 tips for effectively managing leads in Ventura County.
- Gather Lead Intelligence
Knowing certain information about your prospective customer can put you in a better place to provide what they want. So, with the right buyer persona in mind, start by collecting information from your leads through emails, website forms, and landing pages, among other means.
- Categorize Your Leads
With the intelligence gathered in the previous step, categorize your leads in smaller groups based on their interests. This is known as lead segmentation. Lead segmentation basically enables you to send personalized, relevant, and targeted content through marketing campaigns to increase chances of conversion.
- Rank Your Leads
Even though following up on a lead helps a great deal, not every one of them will be enthusiastic about your marketing campaigns and promotional messages. As such, you need to determine the sales readiness of each lead through lead scoring. This is where you need to assign numerical values to the leads, rank them based on their conversion probability, and create a list of your sales-qualified leads (SQL).
- Build Relationships with the Leads
Different leads convert into sales at different times. This means that you should nurture your leads by building relationships with them and guiding them through the sales cycle. Examples of lead nurturing strategies include, among others, sending personalized messages, giving free guides, putting the prospective customers’ interests at heart, and providing extra value.
- Assign Leads to Sales Representatives
In essence, you should assign a sales representative to any lead that is about to make a sales decision based on your lead qualification system. For instance, requesting a demo or a free trial shows that a person is highly interested in your product and is more likely to purchase it if they are convinced. With this in mind, ensure you assign the lead to a suitable sales representative depending on the industry and products on sale.
- Conduct Sales Nurturing
When a customer shows interest in your product or service, it is prudent to keep engaging them until they make a final decision. According to HubSpot, many people stop using products once the free trial ends due to a lack of engagement from the sales team. In other words, sales nurturing through sending emails and keeping the leads engaged can influence customer decisions greatly.
- Hand the Customers to Customer Service
The final stage of the consumer buying process is the post-purchase evaluation. While most marketers neglect this stage, it contributes a lot to the growth of your business. For instance, while a satisfied customer will most likely bring you referrals, a dissatisfied one can taint your business reputation and lower your sales. Therefore, ensure that the customer service department follows up with every customer to ask for feedback and responds accordingly.
- Track and Measure the Leads
To maximize your sales, ensure that every lead you generate successfully goes through all stages of the sales cycle. While it may be difficult to achieve a 100% conversion rate, you can maximize the conversions by tracking and measuring the leads. This way, you will know which stages should be emphasized for specific leads for a good outcome.
- Leverage Appropriate Lead Management Tools
It is worth noting that effective lead management takes a lot of hard work and dedication. Considering the complexity involved in tasks such as tracking leads, you should consider using the right lead management tools. By leveraging automation, you’ll be able to achieve more accurate results faster.
- Analyze and Report the Results
This step is crucial to let you know whether your lead management strategies are working or not. By analyzing and reporting results from each sales cycle, you will be able to identify problem areas and ineffective strategies to work towards rectifying them.
For effective lead management in Ventura County, follow the 10 tips discussed in this article. To access comprehensive insights into effective business success strategies, contact the experts at Business Forward Ventura County. Our countywide initiative and business resource center is committed to fostering enterprise prosperity. Contact us today!