What if I said you don’t need more leads, you just need to convert more of the leads you’re already getting into actual sales. Now if you’re not actually getting leads, that’s a different story but In most industries, 90 – 95 out of every 100 inquiries you get from your online marketing most likely won’t buy from you right away
All that time. All that money so you can convert just 5% of your leads into sales. But it’s true. It’s been true for a really long time and businesses STILL make money from it.
But what if I then told you there was a way to double, or even triple that without spending another cent on your ads. Imagine what that would do for your sales and for the return on your marketing investment. Sounds good right? Well, it’s actually not that hard.
Let me show you…
The reality of modern marketing is that we focus so much of our effort (and money) on getting new leads, we forget about the ones we already have. And that’s been OK until now, but with ad costs rising on every platform it’s more important than ever to get the maximum return from every opportunity. And this is where you can make a massive difference to your ROI because those 9.5 people out of every 10 who DIDN’T buy from you immediately, in most cases, didn’t buy from your competitor either. They just didn’t buy anything at all and they’re still in the market for what you’re selling!
So, how do you take them and turn them into sales? They said no, or didn’t even answer your call. Surely that’s the end of it, right? WRONG!
Good marketers and salespeople know the money is in the follow-up. Look at these stats…
- It can take 7-12 touchpoints to convert a lead into a sale.
- Some people will be on your marketing list for 6-12 months before they buy from you.
- 95% of leads that convert into sales only buy on, or after, the 6th follow-up call.
- 40% of salespeople give up after the first call.
- 92% of salespeople give up after the 4th call.
- That means 8% of salespeople are making 95% of the sales. Are you one of them???
Now, in polite society, no means no! But in sales no just means ‘not right now’
Maybe the time wasn’t right.
Maybe they got distracted by a more immediate problem.
Maybe their pain just wasn’t bad enough to act at that moment.
Maybe their current supplier will slip up, or close down.
The point is that when people are ready to buy, you need to be there or they’ll buy from someone else.
The key is to keep building that relationship. Sales is a long game and you need to have determination and persistence. Stay in touch with your prospects using email and SMS. Yep, old school channels that are CRUSHING it with enormous returns on investment. But you have to do it well.
Focus on being genuinely useful and helping people solve their problems, achieve their goals, and reach their desires rather than focusing on making a sale. If you’re genuinely helping people, the sales will follow. Offer tips, advice, processes, and downloads they can use to make their day a bit easier. Ebooks, checklists, flowcharts, and infographics are super helpful and not too time consuming to create. This gives people an insight into how much better things would be when they’re working with you. Then every so often (we recommend one email or SMS out of 4 or 5) make an irresistible offer to convert them into a paying customer.
A really successful 7 step strategy we use looks like this…
- A person signs up from an online ad, usually Facebook, to receive a lead magnet (a checklist, ebook or webinar registration).
- On the thank you page after they fill in the lead form they’re shown a link to join a Facebook group where we can build trust and authority.
- They immediately receive an email with the lead magnet and an outline of the next few emails they’ll get.
- The following day they get an email with some advice on how to use the lead magnet we sent the previous day. They also get an SMS reminding them to check spam if they don’t have the email.
- The next day, or the day after, they get another useful tool. Could be an ebook, a checklist, a process or an infographic depending on the client we’re working with and the market they’re in.
- On the fourth day, we invite them onto a call where they’ll get some really useful tips even if they don’t end up working with us or the client. It could even be an invitation to a webinar where you’ll give them great tips, and make a killer offer.
- From there they go into regular email newsletters and offers.
You may not see the results in weeks 1 or 2 (hey, let’s be realistic) but the consistent and determined implementation of really helpful, valuable nurturing and follow up will absolutely lead to a doubling or tripling of your conversion rate, and that’s going to make a massive impact on your bottom line. And you didn’t spend a single extra cent on your ads…