Real Talk on Lead Conversions. What’s Missing?
May 19, 2020
You’ve more than likely been there. Staring down a nurture track/ funnel, confused on what to do next. Why aren’t leads engaging? What am I missing? There are two major truths to ROI in sales and marketing:
- It’s long and often arduous, feeling like a war of attrition and numbers.
- You have to bring value, at the right time.
The commonality here is timing- which is actually impossible to control, so, what do you? Without overthinking things there are three major changes you can implement right now to create some serious impact on your marketing efforts.
Understand Your Sales Team’s Process
If the point of generating and converting leads is to support the sales team, then a great first step would be to understand what leads they’re excited about. Your ideal customer profile or specific targets might already define what the sales team is looking for on a surface level. However, sitting with them to learn more about their challenges they face on a daily basis while working through the leads, and figuring out what the leadership wants will help immensely. Make a list of questions you want to ask them, a checklist you execute on, and a focused approach moving forward.
- If you could make one serious impact to your sales team’s success right now, what would that be?
- Why does your sales team want what they want?
Implementing a Lead Scoring Process
Now that you understand what the sales team needs, gathering the right leads is key. One way this can be done, but is often time overlooked, is with lead scoring. Effective lead scoring can be broken down into various models, typically you can see those models fitting your ideal customer and how they engage with your company over a period of time. Many people believe this must be done through a software purchase, however, there are some easy strategies you can implement that cost you nothing. To get started, look at all your active channels (Social, Website, Email, Display, Paid Media, Physical, Events)- what is the most valuable to you? Weigh out each channel and assign it a score. As you capture data and interactions, start to build that score out (maybe out of 100?). Once the prospect hits a certain score, pass it over to your sales team. As you go about doing this, keep track of what works and what doesn’t and make adjustments appropriately. There are no perfect lead scoring models.
- What is the most valuable lead data you can capture, and on what channel?
- What is your goal with each interaction? Where do they go after that?
Bring Value to Every Interaction
Lastly, we need to bring value to all interactions. Value can be defined a handful of ways to fit your goals as a marketer, but it always comes down to what solution can support your buyer’s needs. If this isn’t aligned, then all the other pieces will be off. Do an analysis of your products and/or solutions. How does each one work, and what assumed challenges do they overcome? At the end of the day, we have to think and execute proactively to add value, and not simply “go for the close” each time. In each interaction, you should have your value statement clearly defined and takeaways for the buyer to think and discuss on. Think next steps- if they read this email, what do I want them to think about? What do I want them to do with this information? Your company’s solutions are in fact thought leadership, and might be the most effective material you can utilize.
- What does each of your products do and what challenge do they overcome?
- What do you want each prospective buyer to do with the information they’ve gathered from your interaction/ content? What are your next steps per interaction?
Converting leads down the funnel isn’t an easy task. It takes planning and organization but starting with these three strategies can help you gather some quick ROI, and make positive changes to your company’s sales and marketing processes.
DemandScience’s PureConversion solution provides a cost-effective means of guiding more leads through your marketing and sales funnel and takes back control of your pipeline. Move your leads through the funnel with PureConversion.