Now we can all agree that generating leads is important but it’s not an end all be all. Once you have those leads, you need to put your best foot forward to capture value from them. It’s how you handle and work on those leads that determines whether they convert or not.
So how do we handle them right?
Lead conversion is all about turning leads into an opportunity, nurturing them and converting them into loyal paying customers. It’s about creating an experience compelling enough for them to choose you.
Below are the most common reasons why leads don’t convert along with valuable tips to solve those problems. Let’s get to it…
Here are a few reasons why leads don’t convert
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Confusing messages
Before you even start communicating, ask yourself one very important question: what am I trying to say? Be absolutely sure what your company is all about and what you’re trying to accomplish for the customers.
For example: “I’m a mortgage broker. I believe that everyone deserves professional guidance and access to a wide range of options to make a well-informed decision on their mortgage. My goal is to match each client with the right lending solution and present their case in the best light in front of their chosen lender”
Boom. You clearly stated your business value and purpose so that customers know what you stand for and what your goals are. Your comms are not meaningless noise anymore. It makes it easier for customers to connect with and understand you.
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Failure to provide clear directions
Decide what it is you want the leads to do? Do you send a personalised welcome letter with further description of what you can do for the client? Do you write it in a professional manner? Do you respond to their request promptly?
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Poorly designed website
Make your page welcoming, simple and clean. Remember that every contact with your brand leaves an impression. Your online support wasn’t the nicest? The website took too long to load? They got harassed by an unwanted newsletter? The customers will remember every little detail and it will automatically change their perception of your brand. Make sure that every single touch point with your brand is as pleasant and positive as possible. Little things matter.
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Inconsistency
Consistency, consistency, consistency. Whether you post on a social media platform, write a newsletter, design your website, or prepare an ad, it all has to be on brand. The same tone of language, same visuals and same purpose behind it- that’s what makes your comms strong, efficient and appealing to customers.
Give your customers something consistent, something to remember you by, something that immediately distinguishes you from your competitors.
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Industry babble
Remember that you’re talking to a prospect. Don’t overwhelm them and make them feel less intelligent with all your industry jargon. Be personable. Speak person-to-person. Write in the first person so the leads can assume a direct one-on-one relationship with you.
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Lack of credibility
Your leads should be able to easily find signs that prove your expertise. Just be clear, honest and confident. Profoundly disclose your qualifications and testimonials on your website and social media. Demonstrate how you have contributed to people’s success with case studies and testimonials.
Don’t just do your work and get on with it. What do you write on your blog and social media? Tell people the last thing you did that you were proud of. Tell them about the work project that you just finished that made you super happy. It’s good to be proud of stuff you have worked hard on. This gives potential customers insights on what to expect and more reasons to choose your service.
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Hard sell
It’s best not to chuck the hard sell down people’s throats. When it comes to calls to action (CTAs), beware of the ‘CLICK HERE NOW’ or ‘BUY NOW’ trap. You’re coming on way too strong. Tone down your language can actually encourage more people to click through and eventually convert. Hard sell can feel a bit too intense and stop people from poking around and investigating further. Ease them in slowly and you’ll have a better chance of getting that lead conversion at the end of the process.
Here’s how you can ensure higher conversion
- Contact the leads as soon as possible. Remember that leads are a fresh commodity to your business. Even a day’s delay can make them lose interest in your brand.
- Serve them, not yourself. Be humble and address their concerns to ensure they are satisfied with what you’re offering. Give them tailored content that is relevant to their situation.
- Regularly follow-up and be helpful. This shows your leads that you care about their needs and are ready to provide all necessary services they want. Stay in their radar without ever being annoying.
- Divide your team into 2 divisions – one that handles all existing customers, and the other that takes care of all new leads you have just generated.
- Create content geared towards lead progression to help leads move further down the funnel and get things moving.
- Re-engage past leads. Focus on the leads you already have, dig deeper and see how you can customise your offer to fit them. We have to stress that leads are people, just like us, so sometimes they need a good nudge or more convincing to come to a decision.
- Lead to lead, it changes. If you’re working with a lead, try to understand where they came from and always connect to that.
So there you have it! We know, mind blowing, isn’t it?
Just keep going and never give up.
We are not going to say that lead conversion was easy because it really wasn’t. But we think mortgage brokers have a real tenacity about them and they are very hard workers.
At the end of the day, it’s all about pushing your brand forward. If you keep gathering feedback from customers, experimenting with new ideas and delivering the service that you’re proud of, your customer base will grow and they will stand behind to support you.
Effi is not only a lead provider, but a branding company that is always pushing for more brand exposure for our brokers. If you purchase leads on Effi, you have 100% ownership of those leads. They don’t go to another broker. We make sure the leads that come in are serious leads which means they show strong intention and strong interest on the top loan comparison sites. They want to hear more about your service and want to connect with you.
On top of that, via the Effi portal, brokers can easily engage and build relationships with these leads to convert them into customers. All that is left is providing genuine value and building awareness about your service. If you want to garner the best results, you need to have patience to nurture those leads throughout the stages.
If you need further help and assistance, drop us a line via support@effi.com.au and we will do our best to help.