Even the most successful B2B lead generation effort will be fruitless if leads fail to convert to an Opportunity.
Low lead conversion rates happen pretty often and are usually due to poor lead nurturing and follow-up practices.
Studies show that 50% of marketing-generated leads don’t convert at first contact. Interestingly, 75% of salespeople give up after the third outreach attempt. That’s a shame since research indicates that prospects need about five interactions to become customers.
Yes, lead follow-up can be a challenging task for busy sales professionals. It requires time, timing, organization, and consistency to deliver results. Without those four elements, leads become stale and don’t convert.
A quality lead follow-up strategy is vital to increase lead conversion rates and marketing ROI.
Look at three best practices that will sharpen lead follow-up efforts and increase opportunity conversion.
1. Use at least three methods to initiate or maintain contact.
Email, Call, SMS, LinkedIn, and Twitter are available to B2B sellers. A lead may have provided one or two options to get in touch. However, sellers must attempt to use all available options to engage their leads. Most salespeople limit themselves to phone or email because those were the only options marketing asked for!
Once a lead allows you to contact them, the salesperson must determine which methods work for that individual. Many individuals are inundated with emails, so they might often miss or ignore an email from someone they don’t know well. Others prefer to communicate via SMS, for example. Pro Tip: Use at least three contact methods to initiate and maintain contact with leads.
2. Establish a follow-up cadence.
Most salespeople don’t set aside calendar time for lead follow-up. Instead, they respond ad-hoc as their schedule allows. A cadence is a great technique to streamline lead follow-up efforts. It’s an approach that defines methods of contact, frequency, and timing.
Leads don’t need daily outreach, but multiple outreach attempts utilizing various contact methods should be deployed.
Here is an example cadence: Send an email on day 1. On day 3, make a call and follow it up with an email later the same day. On day 5, a LinkedIn message.
A lead follow-up cadence brings order, structure, and repeatable results. Once a cadence is in place, it will be easier to determine when prospects respond to outreach efforts. This knowledge allows for fine-tuning of the cadence. Pro Tip: Block three 15-minute times on your calendar; one earlier than working hours; one mid-morning; and one slightly before or after the end of working hours. Adjust the time blocks and cadences based on results.
3. Leverage email templates.
Email templates are a powerful tool that saves time and improves outreach engagement. Instead of crafting individual emails, templates ensure quality, consistency, and well-written emails.
Email templates should include more than a “let’s connect” message. Templates should include something of value, such as a case study, infographic, link to a video, or content that helps the recipient understand how you can help them address business needs and goals.
For example, if your firm provides logistics services, including a case study demonstrating your solutions’ business impact might be helpful to the contact.
Pro Tip: Create a library of email templates that improve sales productivity and better engage prospects with value.