According to Econsultancy, only 22 percent of businesses are satisfied with their conversion rate numbers.
Which means the remaining 78 percent of us need to work on our conversion efforts.
One of the major problems that B2B marketers face is a lack of strategy when it comes to both generating leads and nurturing them toward the sale.
You need a sound strategy to attract prospects, gain their trust, and persuade them to make a purchase.
Here are some techniques that can help you improve your current conversion rates and increase revenue for your business.
1. Don’t skimp on customer research
Do you feel like your products or services aren’t resonating with people as well as you’d like?
When was the last time you surveyed your existing customers to hear about what attracted them to your business?
You need to have proper information about your customers’ behavior and interests to help you understand the value they find in your products or services.
Get answers to questions like:
- What are your customers’ biggest needs and challenges?
- What are their hesitations before making a purchase?
- Where do they go for information? Who do they go to when they need advice?
- What value do they expect from businesses they work with?
Remember, your prospective customers have different motivations and are situated at different stages of the funnel. Some may be ready to buy your product or service directly, while others may want to see a product demo first.
Once you get a better feel for your audience and the process they go through before deciding to buy from you, create resources (blog posts, whitepapers, webinars, etc.) for each step of the process.
2. Make your buying process smooth
On average, 69 percent of online shoppers abandon their cart after visiting an e-commerce store.
Shoppers often abandon their carts when obstacles present themselves on your website. A number of things like mandatory login details, slow page load times, too many distracting images and links, etc. are common culprits.
Regularly test your buying process and make efforts to make the process simpler. Making the web experience clean and quick — with just a few steps — can really increase conversion rates.
Try A/B testing the buying process to find the best setup. Here are some things to test:
- Form length – Too many fields can be distracting. Remove a few fields and see how it helps you with conversions.
- Calls to action – CTAs play a major role in decision making. Test a few options to see what works well for you.
- Trust elements – Try adding testimonials to your website. Experiment with different placements on the page to find the best option.
3. Invest in your lead nurturing system
63 percent of people requesting information on your company today will not purchase for at least three months. And a whopping 20 percent will take more than 12 months to buy.
One of the best ways to nurture new leads is to use an automated welcome series. An automated welcome email series ensures that you strike when the iron’s hot and deliver information to new prospects when they’re highly engaged.
Once a new prospect visits your site, get their attention by offering a high-value whitepaper or resource. Encourage them to provide their email address to receive the resource, then follow up with a couple additional marketing emails within the next two weeks.
Automating your lead management is a smart way to keep your leads warm and improve your bottom line without costing you invaluable time and resources.
Learn More: How to Nurture Your Prospects Toward The Sale
4. Develop a system for your team to follow
The lead conversion process needs to have active collaboration between your sales and marketing teams.
If you have multiple team members talking to prospective clients, it’s very important that your prospects are getting a similar experience each step of the way.
Businesses face complex problems; you need to offer solutions that are reliable, trustworthy, and consistent.
Be sure to regularly get feedback from any team members that regularly work with prospects to make sure the process is working smoothly at every stage.
Ready to increase conversion rates at your business?
With a little extra planning, your business can effectively attract new business, keep prospects engaged, and get them to convert.
Follow these four steps and measure your success to see if you can increase client conversion and propel your business with more happy customers.
Looking for more marketing tips? Sign up for our newsletter! Our Hints & Tips newsletter delivers our best marketing resources straight to your inbox — twice each month.
About the author: Maulik Patel is the managing director at Blurbpoint Media. His passion for helping people in all aspects of online marketing flows through in the expert industry coverage he provides. In addition, Maulik also runs well-knowned SEO companies of India, ClickMatix and HireSEOAgency, to help businesses with local SEO, link building, content marketing and paid advertising.