The long and short of it is that leads fuel business growth. Without new leads, a company will struggle to increase its revenue in any significant way. However, not all leads are equal. As any experienced sales rep can tell you, a hundred bad leads won’t amount to much tangible success. On the plus side, businesses can take action to transform bad leads into good ones. And these five sales and marketing tips will help you do just that. Check them out here:
The upsell is a tricky technique. Press too hard on a lead or current customer and they’ll likely reject the idea of spending more money with your business. As such, it makes sense to only try to upsell leads and customers who can truly benefit from more products or services. Thankfully, most businesses usually have a few clients who are quality candidates for upselling. Upselling is a tactic based on a risk-reward system. So while it may alienate a few poor leads, it will likely generate quality customers at the same time.
Bad leads are consumers who aren’t interested in purchasing your product or service. Fair enough. Yet, some “bad leads” just don’t want to work with you now. This doesn’t mean they’ll always be bad leads, though. Indeed, some B2B companies, for instance, only purchase products or services on an annual or semi-annual basis. In such a scenario, it can pay to be patient with a poor lead and follow up with them at a later date. Businesses that are willing to be patient with leads can eventually reap the rewards of their efforts.
In the sales and marketing game, knowledge is power. Marketing research that uncovers valuable consumer insights can provide sales professionals the intel they need to make a connection with a customer. Ideally, marketers and sales pros should have a detailed understanding of their customer base. Without a thorough appreciation of customers’ needs, a sales team will face an uphill battle converting any leads into sales.
The more transparent your company is, the more likely consumers are to trust you and open up themselves. Though many professionals balk at the idea of putting a price next to expensive products or services, the reality is that quality leads won’t be put off by price. Rather, they’ll appreciate the fact that you were upfront with supposedly sensitive information.
Know When to Walk Away
Unfortunately, no company can convert every lead they generate. It’s impossible to predict the needs and preferences of every consumer, and some leads are just a poor fit. It’s important for marketing and sales pros to know when to walk away from a bad lead. There’s no shame in moving on under the right circumstances. Just make sure not to burn any bridges doing so!