From Prospects to Profits: Strategies for Converting Leads into Sales

Lead generation is half of the battle won; the other half is the conversion. This is evident from the statistics shared below. Do you know that:

• 96 percent of the prospects on your site aren't ready to purchase
• 80 percent of the new leads generated never convert
• 54 percent of the marketers believe that improving the quality of the leads is one of the biggest challenges

So, if you are struggling to convert leads to sales, you have come to the right place. Here, Refresh Ideas marketing experts will share the top marketing strategies for going from prospects to profits.

Strategies to Convert Leads to Customers

Here are some of the best ways to boost your customer base and maximize profits:

1. Retarget Leads Via Social Media Ads

Studies show that 56 percent of the prospects are not ready to buy instantly. So, tracking leads as they go through the sales funnel is vital. As a marketer, you must pass the right information at the right time to your leads, depending on where they are in the sales funnel, to increase their conversion chances.

For example, a prospect who just got to know about your services will be interested in knowing your industry and business, while someone at the funnel's bottom will be interested in discount offers, incentives, or finding out why they should choose your company over others.

 So, retarget accordingly. Leverage social media platforms with display ads to keep your business top-of-mind for prospects. Also, tailor ad messages to address their pain points and needs, increasing the likelihood of conversions.

2. Email Marketing

Tap the power of email marketing to nurture leads and guide them through the sales journey, ensuring they convert into sales. This can be done by crafting personalized emails with content that addresses your prospect's needs. Create compelling email subject lines and provide informative content. You can also shoot emails with special offers or new offerings that you think the recipient may be interested in and will likely place an order. 

Studies show that email marketing is one of the top strategies with the highest conversion rates. The average email rate of conversion in 2021 was 15.22 percent. Also, email marketing drives more than 50 percent of sales compared to other lead generation techniques. So, this strategy should be included in your marketing plan.

To boost your chances of conversion:

• A/B test your subject lines
• Add a single CTA
• Personalize emails as it has a 2.5 times higher conversion rate

3. Social Proof

No it's not a buzzword, but a strategy that is a proven and powerful persuasion tool. It refers to sharing reviews and testimonials online from satisfied customers. So, when leads read these reviews, it makes a positive impression about your business and builds trust, thereby converting into sales. 

So, seek customer reviews and incorporate them on your site, emails, and social media handles. This will build the authenticity of your brand and make a lasting impression on prospects. 

4. Regular Follow Ups

Do you know that 63 percent of the prospects that request information or inquire convert only after three months? This means that you must focus on nurturing strategies, too, in order to convert leads to sales. The best way to ensure this is regular follow-up.

Stay connected with your leads to move them closer to sales. You can do this via phone calls, social media interactions, and personalized emails. The goal is to touch base with them at regular intervals. They are hot leads and are likely to order if you address their concerns and provide them with the right information at the right time. 

5. Giving Trials or Samples

Leads need a little push to convert. So, be willing to offer low cost sampler packs or free trials, demos, and samples. This hands-on approach clears doubts and allows leads to place their orders confidently.