Despite the results of a 2014 Gartner Research study that found that companies spent an average of 10.2% of their revenue on marketing, the truth is that most companies spend more than that. Well-known companies like Apple and Coca-Cola that spend a lower percentage of revenue were factors in that mathematical equation. Midsize and small businesses must spend more to generate the leads that eventually lead to loyal customers. However, those leads don’t always translate into sales, which is why having a good lead conversion strategy is so important.
Give your landing pages staying power
Business Insider reports that 78% of consumers shop online. In 2015, that translated into 201 million online shoppers. Once a potential customer finds your website, there are some things you can do to keep them there long enough to make a purchase.
One proven way to do that is by providing great visuals of your products, services, and satisfied customers. The human brain processes visual content about 60,000 times faster than it does written content. If your customers don’t like what they see, they may not remain on your site long enough to read about your products’ superior quality and affordable prices. Content accompanied by relevant images gets up to 94% more views.
Once you’ve attracted their attention with great visuals and kept it with entertaining and informative content, they may be ready to buy. Keeping your registration form as short as possible is one of the best ways to avoid snatching defeat from the mouth of victory. Filling out forms is time-consuming already, and requiring too much information can make the process doubly annoying. It can also feel like a violation of personal privacy. The fewer lines of information they are required to provide, the more likely they are to complete the process. It’s also a great idea to provide privacy policies on your website to reassure your customers that their information will not be misused.
The right stuff – at the right time
Once you have your customers’ contact information, you can reach out to them with special offers. Dr. James Oldroyd, the CEO of InsideSales.com, converted three years of research data that included 15,000 leads and 100,000 phone calls into some useful information. The goal of his research was to determine the best way to respond to a lead to covert that hard-won prospect into a paying customer. The results of the study made one thing very clear – time matters.
Research statistics show that the best time of day to contact a lead is between 4 p.m. and 5 p.m. The second optimal time is between 7:30 a.m. and 8:30 a.m. People are more likely have uninterrupted time to talk before their busy days begin, or just after their workdays have ended and before dinner hour and their evening activities have begun.
It’s not just the time of day that matters, though. It’s also the day of the week. The study revealed that contacts made on Wednesdays and Thursdays produced more favorable responses that those initiated on other days of the week. In fact, there was almost a 50% difference in the number of positive responses between contacts made on Tuesdays compared to those made on Thursdays. It seems that the promise of weekend relaxation and shopping still seems too far away on Tuesday.
For online leads, responding within five minutes proved to produce the most consistently favorable results. After five minutes the positive responses decreased by 10%. After just five more minutes, they decreased by 400%! These results demonstrate the reality that today’s busy customers value their time, and don’t want to spend even a minute of it being kept waiting.
However, the good news is that persistence pays. The study revealed that six is the optimum number of times to attempt to contact a new lead. Those attempts don’t all have to be through potentially annoying phone calls, though. A recent article points out that Americans now spend approximately 26 minutes a day texting, compared to only six minutes a day talking on the phone. Texting, if done respectfully, can improve conversion rates by up to 112.6%.
Whatever your sales strategy, respect is perhaps the most important conversion tool of all.
For more insight on wowing your customers, see Customer Experience: OmniChannel. OmniNow. OmniWow.