The ability to find new leads is the linchpin of most businesses, but leads are worthless if they can’t be converted into buyers.
In many cases, a business may be generating all the leads they require, but their conversion rate percentage is so low that the results they desire never appear.
Creating a balance between lead generation and conversions will allow you to consistently grow your business year-on-year, and a sophisticated set of conversion strategies is all you need to encourage buyers.
All offers promise something to their buyers. A promise could come in the form of certain results and outcomes, or it could be a feeling or insight. Regardless of the promise, you need to show proof of these results if you want to maximize conversions. Proof could come in the form of customer reviews and testimonials, before and after images, or product samples, which all go a long way towards answering any doubts.
Scarcity is one of the most powerful conversion strategies, but you must ensure you use it correctly. It has been proven consistently that if people believe an offer will run out or be closed down, the chances of buying increases. You can create scarcity by selling limited numbers, opening for a scheduled period of time, and publicly reporting your stock numbers. However, creating fake scarcity is a certain way to harm your credibility, so only use it if you stick to the promises you make.
Stories allow us to get invested in a topic, creating emotional connections with things we may have previously thought of as functional. If you can create interesting stories about your offer, or your business in general, you can encourage people to take the next step and become a buyer.
Offer an Easy Solution
Most leads will only give you a brief window of their time, so you need to engage them and make your offer clear. An offer should be easy to understand, without complications that require too much effort to grasp. The basis of a good offer can be explained in a short paragraph, even if there might be further intricacies that you can lay out when you have piqued interest.
Curiosity is effective because it leaves people reluctant to walk away without finding an answer. There are plenty of ways to grab attention online, but you need to be able to keep that attention until your lead cannot help making the purchase. If you understand your audience, there will usually be a common desire or fear they are dealing with. By acknowledging the desire or fear, while suggesting you have the answer, you can keep your leads glued to the offer.
When you provide good social proof, much of your sales work has already been done. People will look to others for authority, leadership, and direction, so if you can associate yourself with those attributes much of your work is done. Testimonials are good examples of social proof, while recommendations from industry experts increases your credibility.
Qualify Leads First
Treating all your leads the same makes it difficult to directly target your ideal customers. Qualifying your leads allows you to weed out people who have no intention of buying your products, allowing you to create a targeted offer that converts. Your offer will determine how best to qualify the lead, but one common method is to make your prices known upfront, and even offering a low-cost trial to ensure they are willing to make an initial investment.
If a lead can sense the opportunity to become part of a community, they are more likely to want to join you. Buying a product can be a singular experience, but you can enhance it by letting people become part of a tribe. A fitness product, for example, may be daunting to many beginners, but the existence of a community can give the impression that everyone is helping each other towards a common goal.
Successful lead conversion strategies can radically reduce the cost of acquiring each customer. Finding large numbers of leads, only to convert a small percentage of them, is expensive and time-consuming, whereas you could streamline the process and reduce costs. Even cold leads can be turned into buyers with successful conversion strategies, so it is worth implementing them into your sales process as soon as possible.