For a lot of small business owners, leads may not be a problem. They may be receiving lots of leads. It’s the conversion of those leads that may be the problem. So in this article, let’s explore 4 reasons your leads may not be converting and what you can do about it.
1. Lead or Prospect Mismatch
Some people believe you have to get LOADS of random leads then some may shake out to be your ideal customer or target market. That’s a laborious process and it also produces false leads – people who were never really interested in what you have in the first place.
Leads may not be converting because they truly aren’t your ideal customer and they never were. If that’s the case, evaluate who those leads are, and check that they match the profile of your target market. If they’re not an ideal prospect, don’t waste time following up. Instead focus on generating more qualified leads that truly reflect your target market who is hungry for what you offer.
2. Follow-Up Fortunes
One of the things I discuss with clients is setting up a follow-up process for their business. There’s a fortune in the follow up, and honestly, there may be people out there just waiting to whip out their credit cards if only you’d pick up the phone and follow up with them.
When we’re pondering how to sell services, it’s important to create great follow-up systems that produce sales. A clear set of steps you take to follow up with someone who expressed interest in what you have to offer but hasn’t made a buying decision yet. The thing to remember is that customers buy not when we want them to buy; they buy when they are ready to buy. And this is why it’s important to have a follow-up system where you continue to provide value and you also remind them of how you can help.
My weekly Ezine is a good example of a follow-up system. It shows up every week with valuable information in response to subscriber questions, and it’s also a reminder of how I can help further if you’re interested in going deeper on any of the topics I discuss.
3. The Sting Rejection
Sometimes when we follow up, we essentially get a “No thanks, I’m not interested.” Ouch. But is it really an ouch? To me, sales is all about genuinely finding out the customer’s need is first, and listening very well to see if I truly have a solution to those problems/challenges. If I do have a solution that can help, then I’ll share what options exist. And I do so by giving the prospect all the information they need to make a decision.
Sometimes we are not converting leads because we’re very afraid to follow up. Afraid of rejection. Afraid of bothering or pestering people. I’d invite you to embrace that the sale is not about us (as small business owners). It’s about the prospect or client. Avoid getting emotionally attached to the outcome of following up.
If you know you can help someone eliminate a challenge or frustration by what you offer, then why not follow up to let them know. Sometimes that requires that you shift your thinking from someone trying to “get a sale” to becoming a provider of solutions. And if that follow-up leads into having a sales conversation where you’re sharing specifics about your offerings, sure, they may say “no.” Their decision is simply a choice and not a rejection of you. All that said, however, you do need an effective sales conversion process… which brings me to my next point.
4. Sales Conversion Process
Prospects convert to paying clients more easily when you have a clear sales process through which you can take them. If you don’t have a clear, step-by-step method to take a prospect from interest to purchase, this may be why you’re not converting them. Sometimes we get stuck because we’re staring the list of prospects but we really don’t know what we would say if we did follow up with them. So we procrastinate and we don’t take action.