Your small business may attract leads from many sources thanks to your marketing strategies. But, as you’ve probably found out, it’s one thing attracting leads and quite another converting them into paying customers. You can use referrals, PPCs, social media shares, affiliates, or aggregators, as lead-generation sources. However, even after having these relevant leads, it is still possible not to see the needed results in your sales numbers going up. What could be preventing your leads from converting? Here are some reasons why you fail to turn your leads into customers.
- Your marketing efforts are not attracting enough qualified prospects
Your marketing strategy should not just target numbers. It’s supposed to identify quality prospects ready to purchase or do business with your brand. That means conducting enough research to identify who your target customer is, how effectively you can reach them, and how well, or otherwise, they’ll receive your product. Your research should focus on your specific industry and identify how your target audience will react to your product or services before they hit the market. And you can take advantage of tech solutions to predict how the market will react to your product value and price. For example, you can use a research methodology such as conjoint analysis research to predict market acceptance before you launch a product. This way, you can attract enough qualified prospects.
- You have poor speed-to-lead
Otherwise known as high turnaround time (TAT), poor speed-to-lead is one of the main reasons connectivity rates fall. In other words, your inability to contact a lead minutes after they drop into your lead pool can affect your conversion massively. Some studies have shown that reaching a lead within 5 minutes after contact can help you boost your sales by 30 – 35%. On the other hand, contact after the 6th minute or later means your lead will be 10% less likely to respond to you.
- You’re not closing the loop
For the uninitiated, the loop process begins with a prospect finding your business and making a purchase. Closing the loop means ensuring that prospects initiate and complete purchasing processes without falling off or changing their mind. You can close the loop faster by giving a prospect more value. You can also consider shortening or simplifying the purchasing process. The most important thing is to provide so much value for the buyer that they’ll not want to turn away from your business.
- You’re treating all your lead sources the same way
It’s not advisable to approach all your lead sources the same way, as no two lead sources are the same. In other words, different lead sources require different plans. For example, your action plan for a lead source from Facebook should not be the same as that from a referral or PPC. And that’s why it’s best to have different strategies for taking different leads to conversion.
- You’re not providing problem-solving content
For your content to generate the lead you want, it needs to speak to the problem that your target is likely to have. It’s important to demonstrate that not only do you understand a potential buyer’s problem but that you have the needed solution.