23 Oct Solution for Converting Leads into Sales
Some customers tell us of their need to get qualified leads. They have realised that, although they are able to generate leads, the leads do not always become sales.
A lead is a potential customer who could be interested in purchasing your brand’s product or service. How can you convert leads into sales?
Types of Lead
Let’s start by looking at the different types of lead:
A cold lead is someone in your target audience who does not know anything about your company before you contact them. You reach out to them through a cold strategy, such as a targeted email, cold call or advert. Your aim is to alert them to the fact that they want to find a solution to a problem they may have, and get their contact details (email address).
A warm lead is someone who has shown interest in your brand’s product or service by filling out a form on social media or signing up to your email newsletter. They are looking for information to enable them to make a purchase and to understand the pros and cons of your product or service.
A Hot lead is someone who is ready and willing to talk with a salesperson.
Once you have classified your leads, you need to establish a lead scoring system. That is a process which allows you to rank the lead’s quality. There are three factors to take into account:
1. how similar is the lead to your buyer persona;
2. at what stage of the purchase process is your lead;
3. how engaged is the lead with your brand?
As you can imagine, the higher a prospect ranks on the above points the closer they are to becoming a customer.
Once you have this information, you will know how ready the lead is so that Marketing can convert the lead into a sale. The sales department then completes the process, and you get a customer.
How can you help a lead become a hot lead?
There is no one-size-fits-all solution, but it is crucial to understand what your future customer needs at each stage of the decision-making process.
Sometimes the solution lies in creating content that prospects value to help the lead move along the purchase process, such as e-books, presentations, webinars, ePubs or apps.
The solution might also consist of running an email campaign with articles, promotions or documents to help your customer.
The solution could also be to help the sales department close the sales process and get a customer by using sales tools. For example, the solution we offered HP took into account that the sales tools being used had become obsolete and were no longer fit for purpose. We came up with a way to help them sell efficiently. Their salespeople urgently needed a tool that would allow them to showcase their products digitally, and always present the latest version of the product – it needed to be constantly updated. After analysing what the best digital solution would be, they decided to develop a customised app (Virtual Demo App). The outcome? In the first months following the app’s launch, more than 6,000 downloads were registered, with over 600 active monthly users. These are high numbers, given the app is for internal sales use.
There are as many different solutions as there are companies, which is why each case should be analysed separately, with a personalised approach, to understand at what stage of the purchase process is the buyer persona. At Intracon we offer solutions for each stage of the purchase process. The marketing strategy will be different in each case, although they all have one thing in common – we always find a solution.