Four Easy Ways to Convert Leads Into Business

There's no denying that one of the most important ways to grow your business is to generate new leads and turn those leads into paying customers. However, companies frequently fail to respond to new leads in a timely manner. 

In a study published in the Harvard Business Review , entitled “ The Short Life of Online Sales Leads ,” the authors note that of the 2,241 companies surveyed, only 53% followed up with a newly generated lead within 24 hours. 

This is simply not fast enough to convert leads into paying customers. The last thing you want is to lose a potential customer’s business to one of your competitors. Below, we have put together a list of four easy ways to convert leads into paying customers.

RESPOND QUICKLY

Leads are perishable. The longer you make them wait, the less likely you are to convert them into customers. In fact, even 24 hours is too long to wait to respond. In today’s world, a lead is much less likely to remain interested after an hour has passed. 

The best thing you can do is ensure that you don’t miss a lead when it comes in. You can do this by directing leads to a company email address that several different people have access to – that way, even if you miss it, someone else catches it. You can also implement customer service software that alerts you to new leads as soon as they come in. 

Failing to respond quickly could result in a prospective customer turning to your competition, so don’t let your leads get away. 

Qualify Leads

 
All leads are potential sales, but it is important to qualify the lead to determine whether or not they are ready to buy your product or service. You don’t want to spend time or money pursuing a lead that isn’t likely to turn into a paying customer. You can qualify a lead by asking questions to determine whether the potential customer is a good fit for your product or service. 

Maintain Leads

 
It’s important to remember that customer care begins before a lead ever becomes a customer. It’s a good idea to respond quickly to a lead, but even a qualified lead might not be ready to become a customer right away. 

 
Still, since they have expressed interest in your business’s products and services, you’ll want to show them that you care and start to build a relationship with them. If you do this, then they are much more likely to return when they’re ready to become a paying customer. 

Ask For the Sale

 
Some leads may not be ready to make a purchase right away, but it might surprise you to learn that many are if they are asked. Consider asking for the sale if you feel that you have a qualified lead. It’s worth considering that if you don’t ask for the sale eventually, your competitor might. 

You can use the above tips to help improve your sales and grow your company. Converting leads into paying customers is a bit of a science, but anyone can learn it, and by generating qualified leads, maintaining customer relationships, and engaging with interested potential customers, you can convert leads into business. 

If you simply do not have time to learn the science of converting leads, EGS Marketing Solutions can help. Schedule your free consultation today.