This is crucial here, especially when you’re living in the world of call centers and auto attendants: lead conversion matters.
Since we’re dealing with entrepreneurship and small businesses, you don’t have to do a whole lot of research to understand that sales success is above everything else the driving force of a small corporation making headway. It’s pretty self-explanatory. If you’re not making your sales, you’re not making your money; if you’re not making your money, you’re not making your business at all.
The key, though, is your sales largely depend on your leads. What’s a lead?
A Little Lesson on Leads
Promise I won’t go too in-depth on this, because in all honesty I’m sure you’re all on the know of what a ‘lead’ is if you’re a successful entrepreneur or call center manager. It’s cut and dry, really — when it comes to sales, you not only have to be good at all, you also need to know that you have a good chance in getting it.
In a nutshell, you can be the best salesperson in the universe, but it won’t mean anything if the prospect is already not interested in buying! Face it…. You. Will. Not. Convince that person. No matter how hard you try. And that’s okay.
That’s what a ‘lead’ is. A lead is a prospect that “may buy your product.” You have real evidence that the prospect may be interested. While being a good salesperson is, well, good, knowing how to get the leads is even better.
So you can see that the key to successful sales isn’t just based on good sales technique — it’s based on good “lead generation” and good “lead conversion.”
Here’s Some Stats for You:
This is typically how sales work — you get a lead, it gets routed to you, you contact the lead and attempt a pitch to convert to a sale. Simple, right? In all honesty, the imperfect world doesn’t make it so simple.
Endeavor to look at the Harvard Business Review and notice that salespersons contacting potential clients within the hour of receiving the actual lead are actually “seven times more likely to qualify the lead.” That means this: if you don’t get the lead within the hour, you stand a lesser chance of making the sale!
Moreover, companies deciding to wait 24 hours or longer to send leads to their sales department actually are 60 times more likely to get a resounding “no thank you” from the possible prospect! That’s not good.
Want to know more? How about the fact that 63% of all companies out there don’t bother to pull in those leads within that crucial hour of discovery? A staggering 24% of companies opt to wait more than a day. 23% don’t even respond to leads at all.
Poor, poor, poor.
Thankfully, in This Day Age, We Have Our Smartphones!
It’s all about communication. And Android and iOS systems out there have the knack for it. Since this is about timing, expediency, efficiency, this revolutionary smartphone app called MyLeadResponder makes waves. And that’s why I gave it four stars, baby.
The app utilizes IMs and e-mail along with texting to automatically send leads generated to the appropriate salespeople. And it happens in real time, too. Someone sends a query about your service? MyLeadResponder then transfers it to you immediately right to your mobile device.
What’s nice is that all of this is facilitated by a corporation called ifbyphone, a company dedicated to lead generation….
That Brings Us to the Slight Drawback….
You’re tacking on an extra expense for an entire service of lead generation linked to this phone app. Yes, handy, maybe even convenient. But it’ll cost more money.
To make this work, you can spend anything from $49.95 a month to $149 a month and possibly even more depending on your business needs! And that’s just to use the phone app (which is essentially free to use, by the way).
In the Long Run….
This is, of course, about sales. And every good businessperson out there knows that sometimes you have to spend a bit of money to make a boatload of it. Is it worth it?
If your sales are astronomical, can you afford to make monthly subscription payments for something crucial to your sales figures? Possibly. Some entrepreneurs already have sort of a “built-in” client base; others continually have to start from scratch. If you already know where the potential clients are, you may not need to worry about true lead generation. So why spend the hefty dough on this app? However, if the demographic’s constantly changing? Guess what: lead generation’s your baby; and you need to feed it. Maybe change a diaper or two.
All in all, though, how it fits into your bottom line will make a difference, so consult with your accountant on it. And don’t forget to make a new bottle for your lead generator to nurse on. In the end, you’ll reap huge rewards!