Is your lead generation ROI falling short of expectations? You may be concentrating too much on generating leads than converting them.
The lifetime value of a loyal customer is essential for steady profitability. Focusing too much on acquiring leads can force some of your best customers to fall through the cracks.
Does this revelation mean you have to dump lead generation altogether? Absolutely not. It’s about fine-tuning your strategy, so you can get the most from the leads you already have.
If you think you need leads, let’s take a look at what’s there. Here are a few ways to convert your existing leads before restarting your lead-generating machine.
Craft a High-Converting Email Marketing Strategy
Of all the marketing strategies, email marketing is the most effective for lead nurturing. You can craft email content for each stage of the lead journey, from initial awareness to the decision-making stage.
Suppose you have a web visitor who filled up their shopping cart and left. Don’t let that valuable lead disappear. Send a friendly automated email reminding that visitor about their abandoned cart.
If the lead bites and finalizes their purchase after the email reminder, send a thank you email immediately. Adding a personal touch to lead marketing increases trustworthiness.
Don’t Bail After Converting a Lead
The work isn’t over once you convert a lead into a customer. Your job is just beginning. You need to craft a separate marketing strategy for converted leads.
Let new customers know that you appreciate their business. Blast out exclusive promotional offers and discounts to your converted leads. Thank customers for their continued support throughout the year.
Create Incentives for Leads
Are your leads getting stuck at a particular stage in the buyer’s journey? Are they not making the leap from decision-making to action? More incentives are in order.
Free trials go a long way with leads. Consumers naturally want to experience what they’re buying, just like trying on a pair of jeans.
However, you don’t want leads to bail after the free trial. Find out how strategic free trials work, so you can generate more lead conversions. You may need to tweak your pricing or subscription models.
Ask for Feedback
Are your most loyal customers disappearing? These customers generated significant lifetime value for your business. Don’t let them go without a fight.
Create a segmented email list of customers who haven’t visited your business in a while. Blast out a feedback request email to learn why they’ve dropped off. Throw in a free incentive to get their attention.
Customer feedback reveals valuable information for lead marketing. Take what you’ve learned and craft personalized marketing strategies that speak to those lost customers. Show them that you can do better.
Still, Need Leads? Think Again!
You already have a treasure trove of leads. Use these tips to convert these valuable leads now. Save money on lead generation and enjoy higher conversion rates.
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