Selling is a subtle art. Closing a deal can be a tricky balancing act and difficult to achieve without knowing what strategies really work.
Thanks to a report by Leads360, over 3.5 million leads were analysed to understand exactly what makes them tick. Read on to learn the best way of converting prospects into paying customers.
The faster the better
Leads are usually gathered from a web form on your site, or from a whitepaper you make available for download. These new prospects are eager to find out more and are waiting for you to contact them. The quicker you can make that call, the chances of lead conversion dramatically increases.
It was found that attempting to make contact by phone within the first minute of acquiring a lead, significantly improved the likelihood of a conversion. You don’t necessarily have to get through to them either; just the attempt alone has a great positive impact.
Persistent, not annoying
So we know that making the first contact attempt as soon as possible is ideal. But how many times should we continue to contact a lead? The key is to be persistent, but within reason. Eventually too much persistence will lead to annoyance and you lose the prospect forever. Studies have shown that there is a tipping point, after which it is no longer worth the time to pursue the lead.
When contacting by phone, 6 contact attempts is the limit for effective conversions. Leads that are contacted 7 or more times are less likely to convert. At this point it won’t be cost effective to continue with that particular lead.
But when contacting via email, successful conversions usually occur within the first 5 contact attempts. If it takes 6 or more emails to get through to the lead, then they are very unlikely to be converted.
Timing is everything
As we saw, how quickly the first contact attempt is made and the number of contact attempts, determine the overall outcome. By combining these two lessons, we can reach an optimal lead converting strategy.
On average, the correct timing of phone calls will result in a 49 % conversion gain. Also by correctly timing your email messages you can get a 53 % gain to conversions. The combination of both strategies results in an average conversion gain of 128 %.
Now you know the recipe to achieve countless conversions.