By Matthew King | Business Planning

May 11

The word “customer leads” might sound slightly confusing to a layman in the context in which it is used. In a marketing context, it is a potential sales contact: either an individual or an organization that expresses an interest in your goods or services. Customer leads are obtained via a number of ways, through the referral of an existing customer, or through a direct response to advertising/publicity. In a company, the marketing department is usually responsible for lead generation.

Each inquiry for more vendor information is a “lead,” and might subsequently be developed into a sale. A company’s lead generation efforts and its approach to dealing with customer leads can significantly impact its success in the marketplace. Therefore, organizations invest quite a lot in lead nurturing, for increased sales.

Here, we try to help you answer the question of, how do you convert customer leads into buyers? A question to which the right answer could be the difference between stagnant business flow or astronomical sales.

Steps to Convert Customer Leads into Buyers

Converting customer leads to buyers could be quite tasking and difficult, but having the right information set could make it a whole lot less stressful and daunting. The outlined steps, when followed would yield significant result for you in you in your bid to convert customer leads to buyers. In each step, objectives are scrutinized, and tools need for result are evaluated.

Recognize the Problem

At this point, the aim is to collaborate with the lead on problem diagnosis. The activity is to quantify how the lead’s problem is impacting financial results.  The tool best for this might be a Call Plan and the exit criteria is to perform an assessment with the client.

Define Needs

The objective here is to prove there are real needs.  The activity is to identify who the lead’s problem impacts.  The tool might be a buyer persona and the exit criteria might be to earn agreement with the lead that such problem cannot be ignored.

Evaluate Options

The objective is to confirm a list of problem solving options and a set of evaluation criteria used by the lead to choose amongst them. The activity is to determine how each solution option scores against the evaluation criteria.  The tool might be a utility analysis and the exit criteria might be a decision frame work the lead agrees to use when evaluating vendors.

Resolve Concerns

This is the final step, the objective is to overcome the concerns expressed by the lead.  The activity is to perform a risk analysis. The tool might be a risk mitigation plan and the exit criteria is an order from the lead.

In going about converting customer leads, have it at the back of your mind that you have to be considerate, categorize and organize customer leads. Make it all about them at any chance you have to do so. And don’t pass to opportunity to show that you actually do care about them.

Customer leads into Buyers

Transform Customer leads into Buyers

About the Author

Matthew King is the owner of the Startup Forums, Alkries LLC, and co-owner at TR King Insurance Marketing. Partner at Independent Life Insurance Agent Association, Medicare Training 101, and Final Expense 101. When he's not creating content about running successful businesses here. He's most likely developing processes, diving into SEO, or gaming with his friends and wife.

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