What Are Leads In Sales | 6 Tips To Get More Sale
What Are Leads In Sales? It is a little bit difficult to define lead because it has many aspects and positions in marketing. We usually hear two things about leads. One is form submission and the other is product sale.
In form submission, there are a number of the form available on different platforms to be completed. Just complete the form and lead is completed.
In product sale, you have to advertise the product through your site, YouTube, Paid advertisement or any other source. At any sale through your link, you get paid and your lead is completed.
If we apply the information to a sales context, we can conclude that a lead is information that indirectly directs a sale.
After some debate, we can define what are leads in sale as
“An individual who has provided contact information and that information points towards a sale.”
We have defined lead from different aspects of marketing. Now the question is “Leads”, But Why?
Primary purpose of leads is to communicate with potential customers and peruse them towards that then respond according to their requirements.
Lead contacts with interested customers. Customers then complete it if interested or ignore if annoyed. After completing lead advertiser have to pay to the marketer.
There are two types of leads.
Sales leads are generated on the basis of customer groups such as income, age and household income. These leads are then resold to multiple advertisers. Advertisers advertise that leads by themselves or through affiliates. Mostly leads are linked through the health, finance and appliances industry.
Marketing leads are brand-specific leads generated for a unique advertiser. These are sold only one time. That leads can be optimized by mapping leads to their sources.
6 Ways to Convert Leads into Sales
Leads benefits industry when they sold and give that particular benefit to that industry. Here I will give you 6 important tips by following that you will increase your lead sales.
1. Get The Attention
I heard many people saying that all focus should be on taking visitors to their website or store. But I do not usually follow that idea in case of leads. It is more important to get the attention of the user in first some seconds otherwise user will leave the site and you will not get anything from the user. When the user visited your site, you have the opportunity to trap him through your content and information.
I can explain it in simple words. Suppose you have a superstore. You need customers as well as sales. If 100 customers visited your store and only 10 buy your product, then there is something wrong which cannot get the attention of customers. The ultimate point is the sale and your gain.
The important thing is getting attention is to tell the value of your work or service. Customers will start developing interest. Now you can trap him. For example, if you are selling something, give a discount or offer a gift. These two methods are widely used to get the attention of users throughout the world by all brands.
2. Follow Up
The quicker we contact to lead, the better chance of converting that lead into a sale. A quick follow-up email or phone call asking your leads. This is an effective method to convert more leads into sales before a lot of time passes.
Harvard Business Review performed a survey about lead response time which shows results as follows
- The average first response time of most company leads was 42 hours
- Only 37% of companies responded to their leads within an hour
- 16% of companies responded within one to 24 hours
- 24% of companies took more than 24 hours
- 23% of the companies never responded at all
Mostly companies and people ignore that point. But it affects greatly to your sale. Be quick in responding to convert more leads into sales.
3. Qualify the lead first
Many people claim that they are not selling a significant amount of leads and they also claim many platforms as a scam but actually they are not qualified for that particular leads. In order to put a good first impression, You have to qualify the lead first. This qualification can be done through an assigned coordinator or by the team. Keep in mind one thing don’t waste time on people who would never buy from you.
4. STRUCTURE YOUR SALES TEAM
Sale team is backbone of your leads sale rate. How it works? How it deals with customers? How much potential it has to build good relationships? All these things depends a lot in sales.
Your sales team has two important tasks:
- Building new contacts
- Maintaining relationships with existing customers
The team should have a great vision to get a group of good customers. It is also needed to build a good professional relationship as well as a personal relationship with clients. Personal relationships are also important as professionals are because if you don’t have good and attractive behavior, the client will take no more interest in you. All successful leaders in every field have good personal relationships with their corresponding people.
The other thing in good sales team development is to divide the whole team into small sub-teams. By doing that It is easy to contact with focal persons. Subteam representatives have assigned tasks by the boss and they are answerable to the boss about the progress of lead sales. I’m sure, this trick will give you benefit in the form of more sales.
5. Keep Leads Warms
You have to produce a good discussion about the deal timely. If you are answering after some time, maybe the customer becomes annoyed and leaves your lead. Build trust through a healthy discussion. He should ask questions from you about his doubts so you may clear that confusion. Apply some tricks like add him in your mailing list for getting more information.
6. Understand Your Competitor
Now in 2019, everyone is working in very high competition. Pricing is a very important factor in the current age. In order to go ahead from your competitor, you must have to know that. Then plan a strategy to go up. First of all, Competitor analysis is much more important and should be performed. Then train your sales team for better results. They have to handle if anyone objects on your quality and pricing. The team should be able to defend.