Most of Your Leads Never Convert Because of Poor Follow-Up
Everyone wants to get more leads, because everyone wants to close more sales. But what if the problem isn't how many leads you get?
What if the problem is how you're handling the leads you've already got?
A recent study by MarketingSherpa shows that 79% of leads never convert into sales. They also concluded that lack of lead nurturing is the primary cause for this sub par performance.
Lead nurturing is a process of building relationships with prospects as you walk them through your sales funnel.
On the surface, a 79% drop-off rate isn't that bad. Flip the stat, and it means 21% of your leads are converting. That sounds good, right?
But it means that what you're currently doing only works a minority of those interested. What if you could improve this by even just a few percentage points? What would that do for you and your company?
Part of the problem for this high drop-off rate is how leads are defined to begin with. Who's really a lead?
Is it someone who downloaded a free PDF? Someone who registered for a webinar you hosted? Is it someone who's reached out to ask a question? Or someone you had a conversation with on social media?
Maybe a lot of the people you're considering leads shouldn't be given that label yet.
Another part of the problem is the follow-up process. Too many people give up too quickly. In fact, most salesmen give up after the 4th attempt, even though 80% of sales aren't made until the 5th attempt or later!
It takes time to build the relationships necessary to turn leads into customers.
How are you fostering those relationships?
Homing in on real conversations with leads, and on being there over time, could have an enormous impact on your business!
What if, rather than just sending a triggered email or making another phone call when a lead comes in, you sent them a text?
When you want to catch up with friends, or check in with them, what do you do?
You text them.
Why? Because that's how friends communicate. The two of you build a relationship with each other. And over time, you become a go-to resource for that friend.
Shouldn't your business act the same way?
What if your business built relationships with prospects like you actually cared about them? What if you texted with your leads just like you do with your friends?