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Are you tired of chasing after leads that seem perfect on paper but take you nowhere in reality? It’s time to shift your focus.
While every lead has potential, Belkins reports that only 10-15% of sales leads reach the bottom of the sales funnel and convert into deals.
We’ve guided maximizing sales leads — purchased, aged, or generated — by effectively using every opportunity these leads present.
At Kaleidico, we understand the nuanced landscape of lead conversion well. Our expertise isn’t just in generating new leads, but in teaching and implementing strategies to effectively convert leads.
Remember, every lead has potential. Learn how to use the unique information each lead provides to craft your sales approach, turning even the most challenging leads into successful conversions.
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Rethinking ‘good’ and ‘bad’ leads: A lesson from Glengarry Glen Ross
The notion of “bad leads” in sales often stems from a misunderstanding of a lead’s potential. This misconception is reminiscent of the “Glengarry Glen Ross” scenario, where the complaint “The leads are weak” is met with the harsh retort “You’re weak,” highlighting a fundamental truth in sales: The real issue usually isn’t with the lead’s quality, but rather with how they’re initially approached and followed up with.
Implementing effective lead conversion strategies can guide these high-intent leads toward becoming qualified prospects.
- “Good” leads are often those that seem ready to buy immediately.
- Engage them with direct offers and clear calls to action.
- Move swiftly through the sales process.
- “Bad” leads are typically seen as unresponsive, uninterested, or unqualified.
- You need to understand their position in the buying journey.
- Use educational content and nurturing to gradually build interest and engagement.
- “Bad” leads might be misunderstood. Closer analysis can reveal their actual needs, leading to tailored solutions.
- They may have high intent to buy but need guidance to become qualified.
- Regular engagement can nurture them toward a future conversion.
- Interacting with challenging leads offers insights to refine your sales funnel and qualification strategies.
- Engaging with a variety of leads broadens your audience base and your understanding of the market, informing product and strategy development.
Roadmap for Sales Success Part 1: Maximize Internet Leads by Mastering Conversions
Internet leads come in two types, purchased and generated.
Purchased leads are bought from external sources like lead aggregators and lead generation companies, saving time but requiring quality checks to align with your goals.
Sometimes purchased leads are sold as “exclusive” leads. Lead providers might charge a premium for this exclusivity to give you a competitive edge but they can’t guarantee that those consumers aren’t shopping around.
Understanding the differences between these two types is vital for effective Internet lead conversion.
For businesses operating in a direct-to-consumer model, learn more about effective D2C marketing strategies.
By recognizing and responding to the specific needs of each lead, we focus on enhancing lead value and turning potential into profit.
There are two important aspects of lead quality: desirability and convertibility.
Desirability is related to how much you desire this type of lead because they seem highly qualified to make a purchase decision and therefore easy to convert. Convertibility is how likely they are to make a purchase.
A desirable lead is not the only convertible lead, and that’s what matters most. The trick is to not only focus on leads that are highly qualified but instead expand your focus to all leads that show intent to buy.
- Matches your Ideal Customer Profile
- High engagement with marketing content (likes, shares, comments, pages read)
- Frequent visits to your website or product pages
- Signing up for newsletters and downloading free guides and ebooks
- Expressing verbal or written interest through direct messages
- Demonstrated need for your product or service, showing high intent
- Asking specific questions about products or services (showing a deeper interest)
- Repeated interactions or follow-ups from their side
- Showing a readiness to discuss the process and next steps
Using data smartly and getting to know your leads can greatly improve how you identify and cater to them, boosting your chances of making successful sales and making your whole sales process more focused and efficient.
- Lead data analysis: Leverage data from your CRM and marketing platforms to analyze lead behavior. Look at their interaction history — what pages they’ve visited on your site, which emails they’ve opened, or what content they’ve engaged with. This gives you insights into their interests and potential pain points.
- Sales data insights: Review past sales data to identify trends and patterns. Which types of leads have historically converted better? What common characteristics do they share? This analysis can help refine your qualification criteria and prioritize leads more likely to convert.
- Feedback integration: Don’t overlook the power of direct feedback. Regularly engage with leads through surveys or conversations to understand their needs better. This can reveal valuable insights into what makes them tick and how best to approach them.
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How to maximize sales conversions for your generated leads
Once you’ve generated your leads, whether it’s for a mortgage company, law firm, assisted living community, or others, the next step is converting these leads into committed borrowers, clients, and residents.
With our proven techniques, you can aim to surpass the average industry conversion rate of 2.9%, significantly improving your lead conversion rates and transforming interactions with both new and existing leads.
These tactics are at the core of our lead conversion strategies, ensuring a higher success rate in transforming leads into committed clients.
- Follow-up consultation: For leads that have shown interest in mortgage or home refinancing information, offer personalized mortgage consultations to discuss their specific questions.
- Nurture through updates: Regularly update them about changes in mortgage rates or property market trends that could affect their decisions.
- Use testimonials for more trust: Share stories of clients who successfully navigated the mortgage process with your help.
- Offer free case evaluation: For leads that have inquired about legal services, offer a free initial case evaluation to discuss their legal concerns in more detail.
- Send educational emails: Send a series of emails that delve deeper into legal topics of interest, positioning your firm as knowledgeable and helpful.
- Display client reviews: Share anonymized success stories or client testimonials that showcase your expertise and successful outcomes.
- Personalize your follow-up calls: Have your assisted living outreach team contact leads who have expressed interest in senior living options, personalizing each call to address their unique needs and concerns.
- Use webinars to educate and generate more leads: Host webinars on topics relevant to senior living, like healthcare services or community activities, and invite your leads to join.
- Share success stories from residents: Share experiences and testimonials from current residents or their families to build trust and demonstrate the quality of life in your facilities.
Roadmap for Sales Success Part 2: Actionable Sales Strategies That Actually Convert
When you purchase leads, particularly in sectors such as mortgage, law, and senior living, you’re going to encounter more challenges. Why? Because these people likely have no idea who you are or how you even got their contact information.
Successfully converting purchased leads will require different strategies to build familiarity and trust, while addressing their specific needs.
- Tell them how you got their information first: Start by acknowledging how they came into your contact list and assure them of the value you can provide. For instance, “We noticed you’re exploring mortgage options and thought our expertise might be helpful.” This approach is fundamental in converting purchased leads, as it establishes a foundation of trust and transparency.
- Educate them to build trust: Provide valuable mortgage market insights, like updates on interest rates or tips for first-time homebuyers, to establish credibility.
- Follow-up regularly to “touch base”: Regularly touch base with mortgage leads through automation tools.
- Introduce your law firm clearly: In your first communication, clearly introduce your legal firm and its expertise, emphasizing confidentiality and professionalism.
- Educate them: Send information that can help them understand their legal situation better, such as guides on estate planning or navigating legal disputes.
- Offer personalized consultations: Extend offers for free initial consultations to discuss their specific legal concerns, making it clear that you’re there to help.
- Be warm, friendly, and deeply compassionate in your introduction: Start by introducing your senior living community, highlighting your commitment to care and quality of life.
- Engage them through stories: Share stories or testimonials from residents, creating a sense of community and reliability.
- Invite them to virtual and physical events: Invite leads to virtual open houses or Q&A sessions, allowing them to get to know your facility and staff in a low-pressure setting.
Effective lead management is key in our approach, using advanced CRM tools to tailor strategies for every individual lead.
We aim to help you engage leads effectively without overwhelming your sales team, and not annoying your leads away.
These communication strategies are designed to maximize Internet lead conversion while maintaining a balanced approach.
Texts/SMS messages: Use texts for quick check-ins or reminders. They are great for prompt responses and keeping the conversation going. For example, send a text reminder about an upcoming appointment or a follow-up on a sent email.
Phone calls: Ideal for establishing a personal connection and understanding leads’ needs. Schedule calls via text or email and prepares concise, informative voicemails as backups.
Emails: Versatile for both quick check-ins and detailed information. Every email should offer value, like links to resources or clear next steps.
Personalize initial touchpoints: Start with a highly personalized introduction to build a human connection. For example, an initial email from a salesperson introducing themselves and offering help based on the lead’s expressed interests.
Use triggered automation: Use automation for follow-ups, drip campaigns, and next steps that include personalization elements. For instance, an automated email sent after a lead downloads a resource, tailored to the content they showed interest in.
CRMs: Design your automation around your sales process and map them to lead statuses in the sales funnel. Regularly review CRM data to ensure automation is functioning effectively and adjust based on lead behavior and feedback.
Balancing personalized and automated communication: Mix automated touchpoints with personalized content for ongoing engagement. Periodic personalized check-ins can significantly boost the effectiveness of your nurturing efforts.
Kaleidico’s Prism Sales Sequence is central to our strategy for lead conversion optimization, ensuring more leads are nurtured toward a successful close.
Our approach is based on consumer behavior and effective sales techniques within the financial, lending, and senior living industries.
To gain a deeper understanding of our Prism Sales Sequence, we invite you to download our detailed guide here. This guide will provide you with more information on each phase, including specific touchpoints, efforts, and content suggestions for your business needs.
The initial week in the Prism Sales Sequence is crucial for establishing a solid relationship with fresh leads. It combines automated efficiency with personalized manual efforts, ensuring leads feel valued and understood right from the start.
If you’re working with aged leads, the Prism Sales Sequence offers another tailored approach, recognizing that these leads have different engagement levels and require a different strategy.
Day 1: Immediate engagement
- Email confirmation (automated): Send an immediate email setting expectations for what comes next.
- Text (manual): Quick introduction to establishing a personal connection.
- Phone call (manual): A detailed introductory call to understand the lead’s needs and present solutions.
Day 2: Reinforcing connection
- Phone call (manual): Follow up to reinforce the previous day’s conversation.
- Email (automated): An email that supports the voicemail you left, offering additional information or resources.
Day 4: Providing value
- Email with resources (automated): Share relevant information or tools, adding a touch of personalization to show understanding of the lead’s interests.
Day 7: Consistent check-In
- Phone call (manual): A week-end check-in to maintain the momentum and address any new questions or concerns.
- Text (automated): Support the voicemail left during the phone call, ensuring the lead feels continuously engaged.
Adopting our methods will lead to increased sales funnel efficiency, streamlining the journey from lead generation to conversion.
Kaleidico understands your business, and more importantly, how to generate and convert online leads to fuel your sales effectively.
With our experience in delivering results-driven digital marketing solutions since 2005, we’ve navigated market ups and downs, providing our strategies time and time again.
If you’re ready to see real results with your leads, schedule a discovery session with Kaleidico today. Let us show you how our expertise can transform your lead conversion strategy and drive your business’s success.