Join Dina Shapiro for an in-depth discussion in this video Raise vs. lower your lead quality, part of Lead Generation Foundations.
- There's no use in chasing down a lead who doesn't meet your criteria. It's better to put your efforts elsewhere. As you evaluate your lead response rate, you might find you need to change your strategy a bit. You might need to decrease your lead response rate if too many leads don't meet your criteria to convert to a customer. Or you might need to increase your response rate, let's say, if your business is a startup or expanding. We're about to get into a lot of detail, so stay with me as we get through this together.
To decrease your lead response rate, you need to narrow your lead quality. So, essentially, if you want fewer people responding to your offer, you'll want more strict or narrow criteria. To increase your lead response rate, you need to broaden your lead quality. So here, it's just the opposite. You want more people to respond, so you loosen or broaden the criteria for your offer. A good first step is to ask your sales force for feedback. Then, you'll understand whether they're busy and meeting their goals, and how they rate lead quality.
This will help you figure out whether to narrow or broaden your lead quality. Let's dive a bit deeper here. To narrow your lead quality, which will decrease your lead response rate, you can do things like this. Charge a fee for your offer. If someone's willing to pay, that'll be a more serious lead. Request a lot of information on your sign-up or contact form. Same thing here, if someone's willing to give you more information about themselves, they're likely more interested.
Or you might use strict terms and conditions for your offer, such as an obligation to purchase in exchange for that offer. Let's talk about the opposite scenario now. If you need to broaden your lead quality, to increase lead response rate, try some of these ideas to get more people in. Offer a free service gift or toolkit. Request minimal information in your forms, like just a name and e-mail. Use really loose terms and conditions, like no obligation to purchase in exchange for free consultation.
Once you decide whether to decrease, or increase your lead response rate, it'll help you focus your efforts on the leads that you want that are right for your business.
Finally, discover how to monitor your customer's experience after the sale, reward their loyalty, and measure your program's performance. By the end of the course, you'll have the tools and action plan to keep optimizing your lead generation strategy and expand your customer reach.
- Setting goals
- Publishing engaging content
- Creating compelling offers and calls to action
- Optimizing landing pages
- Developing databases
- Transforming leads into customers
- Making the purchase process clear and simple
- Monitoring social channels
- Measuring results