Not all leads are equal. Startups often spend ages trying to acquire them, only to find out they’re not leads that convert.
The quality of the lead matters, and high-interest prospects stand a better chance of converting than any old lead. Essentially, as a business, it’s better to get 10 good-quality leads where 70% have a high probability of converting than 100 random leads with a 5% conversion chance. Good leads are all-important, and here’s how you can win them.
You’ve got to know where you’re coming from
Unless you’re starting from scratch, you’ll have some sales under your belt. That means you’ve converted customers already and, therefore, should have a clear idea of your target audience. Before searching for new leads, take some time to think about the sales you’ve already made.
Where did they come from, how did you acquire them, and how long was the process? Examining your current customers is the best way to ensure you win new prospects, as they give you insight into your perfect client. By understanding what worked previously and tweaking it to fit specific scenarios, you can feel more confident about generating leads with a higher chance of converting.
Conversion is key
When trying to get leads, many startups think about the sheer number of prospects they hope to attain. More leads equals better results, right? This isn’t always the case, however. Indeed, you shouldn’t focus too much on the volume of prospects. Instead, look at the quality.
Conversion is key here, as the name of the game involves turning leads into paying customers. You can only do that by finding prospects that are a good fit for your business offering. Otherwise, you’re essentially wasting everyone’s time acquiring leads that don’t convert.
Focus on the process
Make sure you have an effective process for converting leads before you start trying to generate more of them. How does your lead gen work, and can it be improved? Startups can be chaotic by nature, but you’ll need to have a defined process in place if you want to convert more leads.
Think about every step in your lead generation and conversion plans, from outreach to how you move them through the sales funnel. What methods do you use to win leads? How do reps process them through the CRM? How long do they take in between contacting a lead? All these questions need answering to put a watertight process in place to convert more leads.
Don’t ignore existing customers
Did you know that existing customers can be one of your best methods for acquiring high-quality leads that convert? There’s nothing quite like word of mouth for increasing your business profile, so don’t be afraid to tap into existing resources, such as current customers.
Ask them for referrals, and make case studies detailing how your product or service solved their pain points. Or record customer testimonials and display them on your website and social media. Showcasing happy customers helps provide context around your business and gives new leads proof points that can help convert them.
It’s never too early to start marketing
Countless founders have rued not starting marketing early enough in the company’s lifecycle. Effective marketing is a fantastic way to generate high-quality leads that convert as you tailor content to your target audience’s needs.
Not all marketing needs to cost an arm and a leg, either. If budgets are tight, think about content marketing, like blog articles, videos and other forms of content that offer thought leadership and educate your audience. These will provide value and build leads who are genuinely interested in your offering.
Leads that convert
Every startup tries to crack the code to win more leads. And while there’s no magic answer, making smart moves – like putting a process in place, reviewing previous sales and marketing early – will give your business a better chance of finding leads and sourcing ones with a higher chance of converting into clients and customers.