Have you ever run a lead generation campaign, only to burn your leads because of poor follow-through or a lack of strategy? Many companies make the fatal mistake of concentrating on lead generation, but then fail to focus on customer retention. Lead generation is more costly than retaining an existing client.
How can you avoid these pitfalls?
Here are a few easy tips and tricks to keep the leads flowing while maintaining your existing relationships with your clients.
#1 – Segment Your Leads As Soon As They Convert
Not all leads are equal.
Your client came to you for a specific purpose, whether through clicking on some type of content or engaging with you through an ad. Too often, companies will then send those leads non-specific content promoting items or services that are unrelated to what the client was initially interested in.
By segmenting your email list by type of clients, you can then send focused communication based upon your client’s interests and keep them engaged and converting. Upsells to other products should be included only as part of a message and not the main messaging.
#2 – Don’t Ask To Get Married On The First Date
Research shows that only 25% of all leads generated are ready to make a purchase immediately. The other 75% may need up to seven impressions before they finally click that ‘Buy Now’ CTA. Too often, a company is pushing potential leads through the conversion funnel too quickly, expecting an immediate buy-in.
So the lesson here is not to propose on the first click. Romance your customer a little and have a long-term engagement strategy that keeps your client coming back for more.
#3 – Ask For Feedback
We all know the quote about what happens when you assume too much.
Rather than making wholesale assumptions about what your clients need and want – ask! The feedback from your prospects will be much more valuable than relying on data analytics and trying to figure out your client’s wants from their online behavior.
Plus, a survey or questionnaire is yet another way to stay at the top of your client’s minds and keep you relevant.
Note that for every question you ask, you must be prepared to respond to the feedback or have a plan in place for how you might make changes based upon the answers you get. The best surveys start behind the scenes with if/then scenarios that are discussed beforehand with your team. Otherwise, your clients will not feel heard or understood and time spent on the survey won’t advance your relationships with your clients all that much.
#4 – Don’t Spam
You’ll only irritate your prospects and will have them blocking your ads and messaging if you spam them with irrelevant or too much information. Respect your client’s time and inbox.
Refrain from spammy, salesy content, and try your best to keep your messaging on-point with your client’s interests and activities on your site. This goes back to point #1.
#5 – Employ The Pareto Principle And Fire Your Clients
This tip may go against the grain of what most companies feel they should do with their leads. Too often, companies will try to nurture ALL the leads that come in, no matter how irrelevant they may be.
However, the Pareto Principle applies here. 80% of your results likely come from 20% of your efforts. For many companies, this translates into the concept that 80% of their revenue comes from just 20% of their clients.
When we say that all leads are not equal, this is true for your clients. If you give the majority of your effort to nurturing low-revenue producing relationships, you are being inefficient with your resources. Don’t be afraid to fire clients that occupy the majority of your time without giving you the compensation to justify the allocation of those resources.
#6 – Ask The Most Important Question In The World
Fred Reichheld of Bain and Company once said that the most important question you can ask your customers is, “Based on your experience with us, would you recommend us to others?”
This question gives you enormous insight into where you can improve your customer satisfaction, increase your retention rates, and where you may be losing or gaining referrals.
How Launch Leads Can Help
At Launch Leads, we can drive leads to you and help you with follow-up activities such as list segmentation and appointment setting. Employ these tips and tricks to nurture the valuable leads we generate for your company, and get prepared to enjoy success! Here are some additional Lead Generation Tips That will Fuel Your Business.
Post by Scott Smith