3 Ways to Turn ‘Just Lookers’ Into Buyers
Only 1 in 10 prospects is ready to buy. The other nine either don’t have room in their current budget or are “just looking.” But they’ll be ready to buy in the next 24 months, says recent research by MarketingSherpa. To win that business, these leads need to be treated differently so when it’s time they’ll only think of you.
How to cash in
Today, companies can’t afford to give prospects any chance to think of a rival. Here are three strategies to stay front and center and turn leads into buyers:
- Reach out in more ways than one. The best way to nurture leads for business down the road is to stay top-of-mind using a combination of media – direct mail, phone, email. Great ways to use these channels:
Direct mail – Postcards, sent with an email invite, keep collateral in front of prospects when inboxes become overloaded and overlooked.
Phone – Assign one or two reps to offer resources (white papers, testimonials) over the phone that’ll keep offers front and center. Note: the goal isn’t to close deals.
Email – Invite potential buyers to partake in educational content like upcoming events, new reports and case studies. If they learn something useful, they’ll remember you. Tip: Send alerts every time a new event or article becomes available.
- Respond in less than 24 hours. One key to keep competitors from creeping into the picture is a fast follow up. Contacting leads within 24 hours is no longer fast enough.
Callbacks within 5 minutes are most likely to convert, says a study by David Elkington of InsideSales.com and Prof. James Oldroyd of MIT. Also, odds of converting leads drop 10 times within 30 minutes and another 10 times if you wait an hour.
Waiting 20 or more hours kills the chances of converting leads at all. And nearly 64% of companies are guilty of waiting more than a day to follow up – missing a great opportunity to boost revenue.
What works best? A policy that says how quickly company reps must follow up with contacts. Note: Many prospects must check with supervisors about a product or purchase. And if they aren’t ready, it’s wise to tactfully ask when a good time to touch base again is.
- Fuel employee’s fire. Staying on potential buyers’ radar begins and ends with the sales reps. If the leads they get don’t respond to follow ups, reps quickly lose the enthusiasm needed to keep the business top-of-mind.
So how do you improve things? Score the leads. Here’s a three-step plan that works:
- Meet with Sales – Establish what makes a “quality lead.”
- Rank prospects – Most companies label leads cold, warm or hot. A better system is to label them A-F. What makes an A? High contact volume, event attendance, budget size, authority, etc.
- Track leads passed to Sales – Find out which leads were closed, which were dropped (and have no chance of becoming a sale) and which need to be nurtured further.
By Modern Postcard
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