How to Convert Raw Leads Into Potential Customers
Published March 27, 2023
In any business, managing raw leads is often disregarded but is nevertheless an important task. In order to maximize the number of leads converted, you’ll need to have a well-organized system in place. The sales team needs effective lead management tools to keep their attention on the leads with the highest chance of becoming paying customers. This causes your sales representatives to overlook the prospects who are most likely to become customers.
An effective lead management strategy will allow you to eliminate tire kickers from your sales cycle and prioritize the most likely leads to convert if you want to ensure that your sales efforts are focused on the right target.
What Exactly are Raw Leads?
Raw leads are the new ones you receive; however, you must identify their potential. It is your responsibility to analyze them and determine which ones are worthwhile to pursue.
A raw lead is an unqualified prospect at the top of the marketing funnel. It may be challenging to identify the nature and potential of a lead. Some individuals may be ideal prospects, while others may require nurturing, and the remaining must be removed.
As a result of marketing activities, it is rather easy to acquire raw leads, who are also easy to manage and target. While raw leads have potential, they can disappear quickly if not managed properly. Therefore, to ensure the success of your sales process, you must pay attention to the management of raw leads.
Lead Management Process
Several processes are involved in the lead management process, including capturing your leads, assessing their information, determining their likelihood to make a purchase, and monitoring the conversion of leads into customers. You can learn a lot about your business’s profitability and the aspects that contribute to or harm it by analyzing the leads you receive.
Types of Raw Leads
Inbound leads are the most popular type of raw leads. They are generated when a potential customer takes action, like completing a form on your company’s website, or showing interest in your products or services.
Next are the outbound leads. Your sales team gets them through persistent activities like cold calling or emailing.
Third is the referral leads. These are new leads brought in by existing clients who are satisfied with your business to recommend them to people they know.
Lastly, there are third-party leads. They are developed by lead-generation organizations that specialize in locating potential clients for businesses like yours.
How Do You Convert Raw Leads Into Potential Customers?
Start by establishing a minimum conversion rate benchmark for each lead source. For example, this should amount to one raw lead for every hour of canvassing. Then, to strengthen your connection with your target audience, use these benchmarks to identify and address any deviation.
Next, set a benchmark for how profitable each lead source is. Then, when the numbers stop dropping, figure out where it is happening and get back on track. Here is when you turn your raw leads into confirmed appointments.
The third step focuses on turning confirmed appointments into demonstrations. Avoid expecting outbound leads to convert at the same rate as inbound leads. People who aren’t in need of your products right now will be annoyed by lengthy confirmation calls. Instead, acquire the necessary information and then invest in training in order to produce value and interest.
Finally, implement a system for determining how many product demonstrations result in signed contracts. As this is your demonstration-to-sales conversion, you must have an additional system for skill development training.
Learn to Adapt to Modern Changes
In the modern business environment, keeping track of the various aspects of lead management can be time-consuming. Several obstacles can happen while gathering raw leads, monitoring them along, and converting them. Nevertheless, raw lead management is essential to the success of any business. As technology progresses and more businesses switch to digital platforms; meanwhile, conventional lead management strategies are already being challenged by emerging opportunities.
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About The Author
Krizzia Paolyn, is an SEO Specialist and author based in the Philippines. She holds a bachelor’s degree in Psychology. It has always been her passion to share her voice, and at the same time, to encourage others to share their voices as well. You can connect with her on LinkedIn.
