We’ve discussed a few of the layers involved when it comes to online leads such as generating them in the first place and then nurturing them along as you carefully introduce them to your business.
However, arguably the most important part of the online lead process is converting these leads into revenue for your business.
While patience and persistence are vital parts of the equation here, speed truly rules the conversion roost.
“It’s not rocket science at this stage,” began George Lee, president of Long Island-based Express Marketing. “Once a lead is established, it can take quite a few follow-ups just to qualify the lead, let alone begin an actual relationship. If you don’t move quickly in getting this process rolling, people simply move on and the lead you worked so hard on is lost.”
Lee adds that he has found during his time with Express Marketing, the first company that responds has about a 50 percent better chance of turning the lead into business.
“It’s an early bird catching the worm world in this game today for sure,” he added.
Lee continued that it’s also important to keep things simple during the process as sometimes the initial reaction in this haste to convert can lead to overcomplicating your pitch.
Recent statistics appear to back up Lee’s statements as marketing research firm CEB claims simplicity plays a key role in the process. Their research has found that a 20 percent increase in decision simplicity during lead follow-up results in a 96 percent increase in customer loyalty, 86 percent increase in likelihood to purchase and 115 percent increase in likelihood to recommend.
Market research from the The Cardone Group also illustrates how important speed is when it comes to conversion, as a recent report they conducted claims, “If you have the data to text a client within the first five minutes of contact, your chances of conversion go up almost 300 times.”
Sure to be a hot topic in Las Vegas at the 2015 LeadsCon, lead conversion has several important components to keep in mind as the give and take begins after any lead has initially been generated. However, as Lee cautions, always remember time is of the essence.
“People are moving faster today than ever, and everyone is so used to making split second decisions,” he warned. “With all the choices they typically have today, haste most definitely makes waste.”
Click here to register for LeadsCon Las Vegas 2015.