Tips for Converting Leads into Customers
I was recently at the ActionCOACH BizX 2023 where I got to watch global leaders in their field present to, and inspire, everyone in the room. (I highly recommend you attend next year if you can. It’s an excellent opportunity to learn from the best while networking with other business owners who also have so much to share.)
Plenty of topics were covered, from mindset to resilience to leadership. But several speakers touched on one topic, albeit from different perspectives – sales. Or, more specifically, how to get and close more sales.
Sales are the lifeblood of any successful business and as a small business owner, I am sure you are always looking for ways to grow your business. It’s easy to simply say we need more sales, but how can you increase those sales if you can’t find more customers?
It starts with lead generation
Lead generation is the process of attracting potential customers to your business and getting them interested in what you have to offer, and is the foundation of any successful sales strategy.
Lead generation is important for several reasons. Firstly, it allows you to identify potential customers who are interested in your product or service. This means you’re not wasting time and resources trying to market to people who are unlikely to buy from you.
Secondly, it helps you build relationships with your prospects. By engaging with them and providing them with relevant information, you’re demonstrating your expertise and building trust.
Finally, it enables you to stay top-of-mind with your prospects. Even if they’re not ready to buy from you now, they’ll remember you when they are ready to make a purchase.
How to approach lead generation
Now, there are several sales approaches you can take when it comes to lead generation. Some of the most popular include:
- Inbound marketing: This involves creating content that attracts potential customers to your website. By providing valuable information that solves their problems, you can establish yourself as an authority in your industry and build trust with your prospects. If you want to revolutionise your inbound marketing, I suggest you read Marcus Sheridan, They Ask, You Answer. I’ve heard Marcus speak several times, and each time I take away something powerful to implement in our marketing strategy.
- Outbound marketing: This involves reaching out to potential customers directly, such as through cold calling or email marketing. While this approach can be more challenging, it can also be more effective if done correctly.
- Referral marketing: This involves leveraging your existing customers to refer new customers to your business. Word-of-mouth marketing is one of the most effective forms of advertising, and referrals can be a powerful way to generate new leads.
Once you’ve generated some leads, it’s obviously just as important to nurture them and convert them into customers.
How to seal the deal
Before I go any further here, I would firstly like to share with you some tips from Jeffrey Gitomer, Jennifer Gitomer and James Muir. All three are sales experts who have contributed valuable insights and advice to the field of sales. They were also all speakers at BizX and have been guests on ActionCOACH’s Big Friday Finish events.
So, they have plenty to add that can help you improve your sales skills!
Jeffrey Gitomer:
- Build rapport with your prospects: People buy from people they like, so building rapport with your prospects is crucial. Be friendly, and personable, and show a genuine interest in them.
- Ask open-ended questions: Asking open-ended questions encourages your prospects to share information with you, which can help you understand their needs and challenges.
- Focus on providing value: Your goal should be to help your prospects, not just sell to them. Focus on providing value and solving their problems, and the sales will come naturally.
Jennifer Gitomer:
- Listen actively: Listening actively is key to understanding your prospects’ needs and building trust with them. Pay attention to what they’re saying, and ask follow-up questions to clarify your understanding.
- Be authentic: Authenticity is crucial in sales. Don’t try to be someone you’re not or use canned sales scripts. Instead, be genuine and build relationships based on trust.
- Follow up consistently: Following up consistently shows your prospects that you’re committed to helping them, and it can help you stay top-of-mind with them.
James Muir:
- Build rapport quickly: Building rapport quickly can help you establish trust with your prospects and make the sales process smoother. Use mirroring and other techniques to build rapport quickly.
- Ask for commitments: Asking for commitments throughout the sales process can help you move the sale forward and avoid surprises later on. For example, ask for a commitment to meet again or to provide you with more information.
- Use the “perfect close”: The “perfect close” is a closing technique that involves asking your prospects a question that assumes the sale. For example, “Assuming everything looks good to you, when would you like to get started?” This technique can help you close more sales while maintaining a positive relationship with your prospects.
Now you’ve learnt from the experts, here are just a few other tips that I thought might be useful.
- Follow up with leads promptly: When someone expresses interest in your business, be sure to follow up with them right away. This shows that you’re interested in them and that you value their business.
- Provide excellent customer service: Once someone becomes a customer, make sure you provide them with excellent customer service. This will help you build loyalty and keep them coming back for more.
- Offer discounts and promotions: Discounts and promotions are a great way to attract new customers and encourage existing customers to buy more. However, use them sparingly so they don’t lose their value.
- Make it easy to buy from you: Make sure your website is easy to navigate and that your checkout process is simple. You should, ideally, offer a number of payment options to make it convenient for customers to buy from you. Again, read Marcus Sheridan, They Ask, You Answer!
Attending the ActionCOACH BizX 2023 gave me valuable insights into various aspects of running a successful business, especially when it comes to sales. If you couldn’t be there then I hope you found this blog post helpful and that, by following the tips in this blog post, you do indeed generate more leads, convert them into customers, and grow your business.
If you have any questions, please feel free to contact me.
Martin Baillie is a Business Coach and Growth Specialist at ActionCOACH Bury St Edmunds, committed to working with business owners to create sustainable, viable, profitable entities within the local community, and creating 1000 new jobs in the East Anglian region through that growth.
If you are looking to increase the profit in your business while freeing up time, and having a better work / life balance, there is no better time to start than now. Our business growth methodology is tried and tested, and we guarantee your results.
