How to Increase Conversion rate with Qualified Leads
For most companies, the main goal of marketing is to provide qualified leads that can be converted to customers. This applies not least to marketing in digital channels, where it has become increasingly common to work with Inbound Marketing and Marketing Automation. The better you and your colleagues in the marketing department are at washing out qualified leads, the higher your conversion rate will be.
Streamlining the management of leads is a key issue for the marketing department. The sales organization should not have to spend valuable sales time managing bad leads. Therefore, sales and markets need to jointly develop a model to assess whether a lead is qualified to be transferred to the sales organization. You do this by scoring your leads, so-called lead scoring. Read more about how you can streamline Inbound Marketing through qualified leads.
Find out your customers’ needs
To make lead management efficient, you need to know what needs your customers have and how you can help them. This is so that you can provide them with the information they are looking for and to be able to score their characteristics and behaviors. This is how you can ultimately achieve a high conversion rate.
An important first step is to define who your typical customers are and develop Buyer Personas. The next step is to produce content that is valuable to your Buyer Personas and that can be presented in different channels at different stages of their buying journey. You also need some kind of system support so you can see what information your visitors are looking for in your digital channels.
Develop a lead-scoring model
The next step is to develop a lead scoring model where your visitors are awarded points based on who you are and WHAT you do. For example, the score can be based on geography, which web pages they visit, which mail they open, which links they click on in the mail, which forms they fill in, or what documents they download. The time perspective is also important for scoring leads and achieving a high conversion rate. It gives a picture of the visitor’s commitment.
Agree with sales to reach a high conversion rate
It is important that sellers and marketers agree when a lead is qualified. Creating a lead scoring model is central to Inbound Marketing and Marketing Automation and this is something that sales and marketing should do together. The model must then be evaluated and adapted as you learn more about your customers or if customer behavior changes. By working progressively and constantly improving your processes, you can achieve a high conversion rate.
Work with lead nurturing to increase your conversion rate
Lead nurturing is an important part of managing leads and creating a high conversion rate. Lead nurturing means that you nurture your leads by helping, educating and informing them about their challenges and issues. In this way, you can build confidence and ultimately become the obvious supplier when your leads are ready to buy or invest.
Lead nurturing means that you create valuable content that is presented in the channels where your potential customers are at different stages of their buying journey. Just as with your lead scoring model, you need to regularly adjust how you work with lead nurturing so that you constantly offer a way forward towards the end goal – a purchase or a meeting with a seller.
Develop valuable and helpful content
Creating personal and helpful content and communication is at the heart of Inbound Marketing and Marketing Automation. This is how you can identify qualified leads and achieve a high conversion rate.
For an outsider, the work can sometimes appear cumbersome and time-consuming. This applies not least to the development of Buyer Personas, interesting articles, and content for different stages in the buying press. But it is through this work that you can wash out good leads and avoid wasting time on leads that do not lead to any business.
Think big, start small, scale-up
A good way to take on the challenge is to think big but start small. Start with a specific campaign, product or service and try it out. Once you have learned how to work and have developed a working lead scoring model, you can start automating recurring tasks and processes and scale up the work.