Did you know that even a small percentage change in sales lead conversions can have a major impact on your bottom line? Perhaps an additional 1% in sales lead conversions will result in anywhere from $25,000 p.a. Or this additional 1% could be more than $100,000 p.a to your profit. Perhaps you are you missing out?

Sales Lead Conversion Rates

I’ve been chatting with several of my clients over the last month or so and I’ve noticed a common theme arising; sales leads conversion rates. Because of this I have been working on strategies to improve the conversion ratio, so that once a prospect arrives at your business destination, you reduce the % of lost sales.

Here are 3 hot tips to help you convert more leads into sales

1. Understand the buying style of your potential customer

A customer arrives in your store or calls you over the phone, and you’ve got to hit your sales target to survive. So you push the customer for a decision and yet too often, they walk away. Sounds like a typical day…

The first thing to note is that not all customers are ready to buy. The first phase of any buying cycle is education…you know when they say “I’m just looking” or “I’m not sure”. But in this education process, one of the most important and yet overlooked steps is that of understanding the buying style of your potential customer.

There are generally 4 different styles of buyers;

  • Those who place priority on RESULTS; looking for outcomes and how quickly they can get there. Generally, don’t like be schmoozed, can be impatient.
  • Those who place priority on ENTHUSIASM; looking to be part of something & share your excitement. Generally, they don’t want to be bogged down in logical or analytical assessments, and prefer to go with their gut feel.
  • Those who place priority on SINCERITY; looking to know you care for them and have heard their voice so they can feel comfortable to trust you. Generally, not easily persuaded although you wouldn’t know it.
  • Those who place priority on QUALITY; looking for the detail and evidence that supports your offer. Generally, tend to be skeptical and don’t like surprises.

If you can understand the prospects buyer style, you remain in the game longer and move through the “credibility” gap quicker. And this is all designed to give you a better chance of converting your sales pitch into actual sales.

2. Establish the emotional connection with your offer

In my blog https://www.unlockingyourfuture.com.au/why-emotional-connection-is-killer-sales-tool/ I talked about why people buy. What someone feels is important is an emotional connector. Properly understood, when you match with this emotional connector, your sales pitch becomes a powerful conversion tool. It tends to override price as an issue, and allows you to move away from selling with discounts.
They say marketing is a black art, but simply put, sales in part is creating the implied emotional connectors that your business stands for, such as a trusted brand or exceptional service and after care.

Getting your initial sales processes and messages aligned, and with some consistency, is not always as easy as you think. As an example, I recently voice recorded a sales proposal by one of my clients. What he thought he had pitched and what I had actually heard sounded like we were on different trams travelling in different directions. Sometimes, what’s in your head just doesn’t always come out the right way, and if you get a bit nervous or anxious, words and your message just seem to get tangled up.

To get better sales lead conversions, it is so important to get your message right. It takes practice, and “winging it” is not a great way to build a better business. A great way to improve your pitch is to practice – try pitching your introductory rapport build or sales pitch to an imaginary prospect (pick a family member or friend) but voice record it as well. Play it back and assess what you liked, what worked, and what didn’t. I know it will seem a bit strange at first, and you should have some laughs along the way, but it’s a great way to improve getting the right message across.

3. Remove the fear

So many prospects have fears. These are the unsaid words and feelings that your prospects don’t share.

In the sales lead conversion process, we are building trust with the prospect by promising to cure their pain or frustration, achieved through buying our product/service. Importantly, we are dealing with their unsaid reasons not to buy. Their risks may be real or imagined, or they may worry about justifying the purchase themselves. It could even be what their family or friends may say.

If we don’t tackle these unsaid fears, many prospects walk out the door.Imagine you follow a process to talk to your prospects, and silently you could hear them say “Geez, it’s as though they are reading my mind”. In my business coaching program, we dive deep into the psyche of your buyer. This allows us to explore where your product or service sits in relation to their unsaid fears, and how our communications connect. Our aim is to get a consistent message, where marketing flows into the buying phase, and then into the follow up and after sales cycle.

Where to from here?

Improving your sales lead conversions through specific messaging, (because it is based on how your customer thinks and feels), will always deliver more profits to your business. Improved sales leads conversions means you get back valuable time that would have otherwise been wasted on customers who never buy, and also means we also get better return from your marketing spend.

I’m David Lockwood, a Melbourne-based Business Coach, and I coach and mentor business owners to unlock six figures and beyond in your business. I do this so that you can positively impact the lives of your family, your staff and the community around you. I achieve this through a coaching program that optimises the 3 overarching strategies that grow sustainable profits and cashflow, and this ultimately gives you time back from the business as well.

If you want to learn more about how you can better understand your customers so you make more profit from the same amount of work, then email me at david@unlockingyourfuture.com.au