Lead conversion is a vital statistic for any successful marketing and sales team. It can also be a difficult statistic to influence in a competitive world, one where failing to contact a lead at the perfect time can result in a competitor taking the sale. However, according to the Aberdeen Group’s Marketing Lead Management Report,
“Companies using marketing automation see 53% higher conversion rates from initial response-to-MQ.”
Read on to learn how some of the essential practices of marketing automation can increase lead conversion.
Marketing automation tools, by their very nature, gather a large amount of raw data. From web clicks and form submissions to social media demographic data, your marketing automation software is constantly gathering and analyzing a lot of data about every lead in your database. This data is used to then create an individual profile for each lead – one that is continually being updated. This profile is then evaluated by the metrics that your sales and marketing teams deem most important, and is assigned a lead score. This lead score indicates how likely an individual is to be converted to a client.
Once a lead has been assigned this score, it can go to one of two places. If the lead is warm, it will be sent straight to your sales team, who can try to convert the lead as quickly as they can. If the lead is not warm, it will be sent to your marketing automation software’s lead nurturing tools.
Lead nurturing is a marketing automation process of contacting individual leads with promotional and educational material in order to make them more likely to purchase your company’s product or service. Lead nurturing also takes advantage of the large amounts of data that has been collected about each lead so that each lead can be placed on the most appropriate lead nurturing program. Once a lead has been placed on a lead nurturing track, your marketing automation program will continue to gather data on the lead, recording things such as email click through and giving you an even fuller picture of your leads.
If your lead exhibits positive behavior that may lead to a sale, then their lead score will increase, and when the time is optimal, will be handed over to your sales department.
When a lead is presented to your sales team, either by exhibiting positive buy signs when assessed initially as a lead or as a result of a successful lead nurturing program, your sales team will have all the information they need to convert the lead. With access to a leads entire history of interaction with your website and promotional emails, you can make sure the right person will know the right thing to say to make the sale.
These are just a few of the ways that marketing automation increases lead conversion. If you want to learn more about the benefits that marketing automation can have for your business, you should check out Lead Liaison’s marketing automation resource blog.