Without a properly thought-out strategy for converting all of the leads that your marketing generates, you will be at risk of converting very few. This is very expensive and a waste of your time, energy and money!
Here is a snapshot of the average conversions based on a recent survey on marketing based on whether there was a process for conversion in place:
● None – 5-10%
● Ineffective – 10-15%
● Generic – 15-25%
● Structured/Designed – 30-40%
● Proven, Tested & Refined – 40-90%
Let’s explore this today…
Using ‘water’ as an example for the leads you generate in your business, when it comes to lead generation and conversion, most businesses will typically have several holes in their bucket.
There are typically between 6 – 8 of these holes that can easily be plugged in most businesses, any of which can cause huge upward shifts in gross income and profit.
Now if you keep generating more water in a bucket that has holes in it, without a process for conversion and retention once they enter your marketing funnel, your rate of loss will accelerate along with increased pressure, financial cost and possible eventual burnout of your team.
Most businesses have the possibility to double sales with existing leads and even the opportunity to reduce advertising spend while still doubling sales revenue and profits – how good would that be?
The proven, tested and refined conversion strategy will have the following steps:
1. Identify the customers pain/problem
2. Identify their goals/dreams
3. Find out what roadblocks they have
4. Uncover the doubt they have in doing it themselves
5. Illustrate your trust as an authority to help
6. Qualify that they are aware that they need to invest to get help
7. Determine the timing of when they can start
8. Establish whether they are the sole decision maker
9. Reaffirm the cost of inaction
10. Ask who was their previous provider and why that didn’t work out
By taking an unbiased, objective look at the existing systems you have in place it is possible to make some simple changes and then review and refine them to ensure the changes made are delivering more leads that can be easily converted.
If you would like more information on how to do this then contact our Team on 55612643.
Have a great day!
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