{"id":9350,"date":"2023-12-20T08:01:32","date_gmt":"2023-12-20T08:01:32","guid":{"rendered":"https:\/\/www.engagebay.com\/blog\/?p=9350"},"modified":"2026-04-01T08:10:01","modified_gmt":"2026-04-01T08:10:01","slug":"lead-conversion","status":"publish","type":"post","link":"https:\/\/www.engagebay.com\/blog\/lead-conversion\/","title":{"rendered":"How to Create a Lead Conversion System for Your Company"},"content":{"rendered":"<p>Your company has put in immense effort to establish a solid customer base. However, some customers will inevitably drop off the <a href=\"https:\/\/www.engagebay.com\/blog\/sales-pipeline-stages\/\">sales funnel.<\/a><\/p>\n<p>So, what steps can you take to fill the void and acquire new customers? The answer lies in implementing an efficient lead conversion system.<\/p>\n<p>Converting <a href=\"https:\/\/www.engagebay.com\/blog\/what-is-a-lead\">leads<\/a> into customers forms the foundation of a self-sufficient business, regardless of its size.<\/p>\n<p>It involves a range of crucial elements, such as comprehending your leads, evaluating their suitability for your company, and cultivating relationships with them to maximize the likelihood of <a href=\"https:\/\/www.engagebay.com\/resources\/conversions-with-engagement\">conversion<\/a>.<\/p>\n<p>In this post, we will delve into lead conversion optimization strategies. By implementing these strategies, your business can develop an effective sales conversion approach that fuels its growth and success.<\/p>\n<p>We will explore various topics, including calculating conversion rates accurately, proven methods to boost these rates, and the essential steps that constitute a comprehensive lead conversion process.<\/p>\n<p>Prepare to gain valuable insights into optimizing your lead conversion process. Armed with this knowledge, you&#8217;ll be well-equipped to create an operational sales conversion strategy that propels your business to new heights of success.&nbsp;<\/p>\n<p>Let\u2019s get started.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.engagebay.com\/blog\/lead-conversion\/#What_Is_Lead_Conversion\" >What Is Lead Conversion?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.engagebay.com\/blog\/lead-conversion\/#How_to_Calculate_the_Lead_Conversion_Rate\" >How to Calculate the Lead Conversion Rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.engagebay.com\/blog\/lead-conversion\/#How_to_Increase_Your_B2B_Lead_Conversion_Rate_Lead_Conversion_Strategies\" >How to Increase Your B2B Lead Conversion Rate (Lead Conversion Strategies)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.engagebay.com\/blog\/lead-conversion\/#Building_a_Lead_Conversion_Process_Heres_What_to_Do\" >Building a Lead Conversion Process: Here\u2019s What to Do<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.engagebay.com\/blog\/lead-conversion\/#EngageBay_An_Affordable_Lead_Conversion_Software\" >EngageBay: An Affordable Lead Conversion Software<\/a><\/li><\/ul><\/nav><\/div>\n\n\r\n            <script>\r\n                var EhAPI = EhAPI || {}; \r\n                EhAPI.after_load = function() {\r\n                    EhAPI.set_account('ktb76s1540fl2hnhbqnrtd2npb', 'our');\r\n                    EhAPI.execute('rules');\r\n                };\r\n                (function(d, s, f) {\r\n                    var sc = document.createElement(s);\r\n                    sc.type = 'text\/javascript';\r\n                    sc.async = true;\r\n                    sc.src = f;\r\n                    var m = document.getElementsByTagName(s)[0];\r\n                    m.parentNode.insertBefore(sc, m);   \r\n                })(document, 'script', '\/\/d2p078bqz5urf7.cloudfront.net\/jsapi\/ehform.js');\r\n            <\/script>\r\n            <script>\r\n                function waitForEhForms() {\r\n                    const interval = 100; \/\/ Check every 100ms\r\n                    const checkAndLoad = () => {\r\n                        const params = new URLSearchParams(window.location.search);\r\n                        const elementorPreviewParam = params.get('elementor-preview');\r\n                        if (elementorPreviewParam && typeof EhForms !== 'undefined' && typeof EhForms.loadForms === 'function') {\r\n                            EhForms.loadForms();\r\n                            console.log('EhForms.loadForms() called successfully.');\r\n                        } else {\r\n                            setTimeout(checkAndLoad, interval);\r\n                        }\r\n                    };\r\n                    checkAndLoad();\r\n                }\r\n                \/\/ Call the function\r\n                waitForEhForms();\r\n            <\/script>\r\n        <div class='engage-hub-form-embed' id='eh_form_5161654467690496' data-id='5161654467690496'><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Is_Lead_Conversion\"><\/span><span style=\"color: #339966;\"><strong>What Is Lead Conversion?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A lead is a person who has a marginal interest in your company and its products and services but has yet to make a purchase. When you convert a lead, it mostly means convincing them to buy your products or services and become converted leads.<\/p>\n<p>The lead will likely sign up for your <a href=\"https:\/\/www.engagebay.com\/blog\/email-newsletters-with-templates\/\">email newsletter<\/a> during your marketing efforts. By the end of conversion, the converted leads are considered customers.<\/p>\n<figure id=\"attachment_9351\" aria-describedby=\"caption-attachment-9351\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-9351\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1.jpg\" alt=\"Lead conversion process\" width=\"1000\" height=\"298\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1.jpg 2000w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1-300x89.jpg 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1-1024x305.jpg 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1-768x229.jpg 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1-1536x458.jpg 1536w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/1-595xh.jpg 595w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-9351\" class=\"wp-caption-text\"><em>Image courtesy of Gary Smith Partnership<\/em><\/figcaption><\/figure>\n<p>Not all leads are the same. Some will stumble upon your company blindly, perhaps from an advertisement they saw online or through a recommendation from a friend or colleague.<\/p>\n<p>These leads know little to nothing about your company, so their rate of interest is low. They may or may not become convert leads. Saas companies using forms have a conversion rate of&nbsp;2.4% (<a href=\"https:\/\/www.chilipiper.com\/article\/lead-conversion\">ChiliPiper<\/a>).&nbsp;<\/p>\n<p>Qualified leads, also known as prospects, did more digging into your business.<\/p>\n<p>They\u2019re still new to you in that you have never sold to them before, but they know through their research what your company does and what it sells.<\/p>\n<p>Since they did their homework, they\u2019re more likely to buy from you sooner rather than later. These qualified leads also have a better chance of becoming converted leads.<\/p>\n<p>You can separate qualified leads into two categories: <a href=\"https:\/\/www.engagebay.com\/blog\/marketing-qualified-leads\/\">marketing-qualified leads (MQLs)<\/a> or sales-qualified leads (SQLs). An MQL\u2019s lead conversion candidacy is determined by which materials of yours they\u2019ve downloaded and which pages on your site they\u2019ve clicked on.<\/p>\n<p>MQLs are often managed by your company\u2019s marketing department, while SQLs are determined by your sales team, hence the name.<\/p>\n<p class=\"title style-scope ytd-video-primary-info-renderer\"><strong>The difference between MQL and SQL &#8211; A video:<\/strong><\/p>\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"The difference between MQL and SQL\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/5PG07uDGCSg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Calculate_the_Lead_Conversion_Rate\"><\/span><span style=\"color: #339966;\"><strong>How to Calculate the Lead Conversion Rate<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As discussed in the last section, non-qualified leads may or may not convert into customers.<\/p>\n<p>Whether this happens depends on what your company and its staff do.<\/p>\n<p>For example, by capturing the lead\u2019s contact information and then developing a rapport through emails or even phone calls, you can bolster the conversion process.<\/p>\n<p>Yet, by waiting too long to do these things, the lead could lose interest and drop out before they ever even get on your lead conversion funnel.<\/p>\n<p>Sometimes, whether a lead converts has nothing to do with your company\u2019s efforts or lack thereof.<\/p>\n<p>Since they\u2019re not a qualified lead, remember that this person knows little about your company. Once they learn more, they may find your products or services are too expensive or just not what they need at current.<\/p>\n<p>Lead conversion metric is one of the most important metrics to follow. To determine how many quality leads your company is successfully converting, you must know your lead conversion rate.&nbsp;<\/p>\n<p>Here&#8217;s the lead conversion rate:<strong> LCR = ( Lead Conversions \/ Total leads ) \u00d7 100<\/strong><\/p>\n<p><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-51649\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay.png\" alt=\"Lead conversion rate \" width=\"600\" height=\"214\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay.png 1620w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay-300x107.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay-1024x365.png 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay-768x274.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2023\/06\/lcr-formula-engagebay-1536x548.png 1536w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>The average lead conversion rate is different from one industry to another. According to a report from <a href=\"https:\/\/marketinginsidergroup.com\/content-marketing\/lead-conversion-rates-average\/\">Marketing Insider Group<\/a>, here\u2019s the breakdown of lead conversion rates by industry:<\/p>\n<ul>\n<li>Financial and professional services \u2013 10% conversion rate<\/li>\n<li>Publishing and media \u2013 10% conversion rate<\/li>\n<li>Healthcare \u2013 8% conversion rate<\/li>\n<li>Education \u2013 8% conversion rate<\/li>\n<li>SaaS and software \u2013 7% conversion rate<\/li>\n<li>Hardware and technology equipment \u2013 5% conversion rate<\/li>\n<li>Packaged goods and manufacturing \u2013 4% conversion rate<\/li>\n<li>Hospitality and travel \u2013 4% conversion rate<\/li>\n<li>Commerce and retail \u2013 3% conversion rate<\/li>\n<li>Nonprofits \u2013 2% conversion rate<\/li>\n<li>Other \u2013 8% conversion rate<\/li>\n<\/ul>\n<p>Once you determine which industry of the above best fits your company, you have an idea of what your average lead conversion rate will be. Of course, you don\u2019t just want to predict or assume this information.<\/p>\n<p>Instead, you should calculate your company\u2019s lead conversion rate. How do you go about doing that?<\/p>\n<p><strong>What is the lead conversion rate? Conversion rate calculations &#8212; a video:<\/strong><\/p>\n<div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe title=\"What Is Conversion Rate? Conversion Rate Calculating\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/qKcbJto9o2A?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p>First, you must tally up your converted leads, but not all. You only want the converted leads who have recently converted to a campaign or opportunity.<\/p>\n<p>Then, take the converted leads and divide the converted leads by all the leads you reached out to for that campaign or opportunity.<\/p>\n<p>Let\u2019s say your company recently rolled out a new product, a vacuum cleaner. To broaden your audience of who might buy the vacuum, you started a new marketing campaign.<\/p>\n<p>Throughout that campaign, you captured the contact information of 500 leads. Of those, only 120 bought the vacuum and became converted leads.<\/p>\n<p>So, with this example, you\u2019d take 500 leads and divide them by 120 converted leads. That gives you a conversion rate of 4.17%, which is low for some industries.<\/p>\n<p>If you\u2019re not quite pleased with your conversion rates, you might more closely study several lead conversion metrics that can influence how many become converted leads.<\/p>\n<p>Here are those metrics.<\/p>\n<ol>\n<li>Opportunity win rates by campaign<\/li>\n<li>Opportunity win rates by lead source<\/li>\n<li>Opportunity win rates by lead owner<\/li>\n<li>Win rates by opportunity owner<\/li>\n<li>Average opportunity size from converted leads<\/li>\n<\/ol>\n<h3><span style=\"color: #993300;\"><strong>Opportunity Win Rates by Campaign<\/strong><\/span><\/h3>\n<p>If your company runs several campaigns at once, which is the most profitable in terms of win rates and conversions as lead conversion metrics?<\/p>\n<p>Lead conversion metrics such as opportunity win rates by campaign KPI can tell you. You can create a chart that denotes both the number of leads won in a percentage as well as the amount of money won.<\/p>\n<figure id=\"attachment_9352\" aria-describedby=\"caption-attachment-9352\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-scaled.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-9352\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-scaled.jpg\" alt=\"Win rates by lead campaign\" width=\"600\" height=\"372\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-scaled.jpg 2560w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-300x186.jpg 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-1024x635.jpg 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-768x476.jpg 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-1536x953.jpg 1536w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-2048x1270.jpg 2048w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/2-595xh.jpg 595w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-9352\" class=\"wp-caption-text\"><em>Image courtesy of Gary Smith Partnership<\/em><\/figcaption><\/figure>\n<h3><span style=\"color: #993300;\"><strong>Opportunity Win Rates by Lead Source<\/strong><\/span><\/h3>\n<p>An important conversion metric. In the same vein are the opportunity win rates by lead source lead conversion metrics. Your lead source is the channel the lead used to find you, such as through the phone, trade show, social media, or your website.<\/p>\n<p>When you track this metric, you\u2019re measuring which lead source is the most profitable in terms of conversions.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/what-is-a-lead\/\">Read also: What is a Lead? Overcoming Obstacles in Sales and Marketing Alignment<\/a><\/p>\n<h3><span style=\"color: #993300;\"><strong>Opportunity Win Rates by Lead Owner<\/strong><\/span><\/h3>\n<p>This next of the KPIs or lead conversion metrics may sound a little complicated, but it\u2019s not. The lead owner is simply the person who\u2019s in charge of this particular lead conversion.<\/p>\n<p>That\u2019s often someone on your company\u2019s sales or marketing teams.<\/p>\n<p>With the opportunity win rates by lead owner metric, you go individually by the lead owner to see who converts the most leads.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Win Rates by Opportunity Owner<\/strong><\/span><\/h3>\n<p>The opportunity owner in these types of lead conversion metrics is the one creating lead conversion opportunities.<\/p>\n<p>Conversion opportunities may be successful, but not always, so it\u2019s important to track each marketer or sales team member\u2019s rate of conversion to paint the full picture of how well they\u2019re doing.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Average Opportunity Size from Converted Leads<\/strong><\/span><\/h3>\n<p>Also known as the average size of won deals, the average opportunity size from converted leads metric compares account deal size with converted lead deal size.<\/p>\n<figure id=\"attachment_9353\" aria-describedby=\"caption-attachment-9353\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-scaled.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-9353\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-scaled.jpg\" alt=\"Average size of won deals\" width=\"600\" height=\"344\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-scaled.jpg 2560w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-300x172.jpg 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-1024x586.jpg 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-768x440.jpg 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-1536x879.jpg 1536w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-2048x1173.jpg 2048w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/3-595xh.jpg 595w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-9353\" class=\"wp-caption-text\"><em>Image courtesy of Gary Smith Partnership<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Increase_Your_B2B_Lead_Conversion_Rate_Lead_Conversion_Strategies\"><\/span><span style=\"color: #339966;\"><strong>How to Increase Your B2B Lead Conversion Rate (Lead Conversion Strategies)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to this infographic from <a href=\"https:\/\/www.salesforce.com\/blog\/2014\/11\/b2b-sales-benchmark-research-finds-some-pipeline-surprises-infographic-gp.html\">Salesforce<\/a>, the average B2B lead conversion rate is around 13% for lead to opportunity and 6% for the opportunity to deal.<\/p>\n<p>What does this mean? That 6% of your lead conversion opportunities are those that become actually profitable deals.<\/p>\n<p>Salesforce notes it takes about 18 days for this conversion to happen when it does.<\/p>\n<p>Lead to opportunity refers to the time it takes for the potential lead to convert to opportunities, which is roughly 84 days.<\/p>\n<p>Yes, you read that right, 84 days.<\/p>\n<figure id=\"attachment_9354\" aria-describedby=\"caption-attachment-9354\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/4.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-9354\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/4.png\" alt=\"B2B sales funnel\" width=\"600\" height=\"486\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/4.png 999w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/4-300x243.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/4-768x622.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/4-595xh.png 595w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-9354\" class=\"wp-caption-text\"><em>Image courtesy of FunnelEnvy<\/em><\/figcaption><\/figure>\n<p>As a B2B business, rather than selling to customers like the vacuum cleaner example above, you\u2019re selling to other industries.<\/p>\n<p>Since you\u2019re a company appealing to another company, you\u2019re not working with one individual, but rather, several major parties within the company.<\/p>\n<p>This can make B2B conversions much more high-stakes, as you must have several people all in agreement rather than only one person like with B2C sales.<\/p>\n<p>Thus, the lengthier conversion times associated with B2B businesses are not abnormal, as it can take a while for all relevant parties to gather and finalize a business decision.<\/p>\n<p>How do you convince key stakeholders in a company that your industry is worth buying from?<\/p>\n<p>Here are some lead conversion strategies to implement.<\/p>\n<ol>\n<li>Enmesh sales and marketing teams<\/li>\n<li>Focus on <a href=\"https:\/\/www.engagebay.com\/blog\/lead-nurturing\/\">lead nurturing<\/a><\/li>\n<li>Choose leads wisely (use frameworks)<\/li>\n<li>Create buyer personas<\/li>\n<li>Run a SWOT analysis<\/li>\n<li>Create conversion goals<\/li>\n<li>Use automation<\/li>\n<li>Watch leads on the conversion funnel<\/li>\n<li>Start a referral program<\/li>\n<li>Analyze growth and success<\/li>\n<\/ol>\n<h3><span style=\"color: #993300;\"><strong>Enmesh your sales and marketing teams<\/strong><\/span><\/h3>\n<p>The first lead conversion method you want to use is to ensure your sales and marketing teams are working in conjunction.<\/p>\n<p>You wouldn\u2019t want your marketers to focus their attention on one <a href=\"https:\/\/www.engagebay.com\/blog\/b2b-sales-leads\">B2B lead<\/a> and three employees within the target company only to find out your sales team is courting three different employees.<\/p>\n<p>This makes your company look bad, as you appear uncoordinated. This could hurt your conversion chances.<\/p>\n<p>At every point of intersection, your sales and marketers must have clear communication with one another about who\u2019s doing what and attempting to convert whom.<\/p>\n<p>Keep all your teams aligned with EngageBay&#8217;s integrated marketing, sales, and support software with free <em class=\"hcV4Re nkGKTb\">CRM.<\/em><\/p>\n<h3><span style=\"color: #993300;\"><strong>Don\u2019t discard lead nurturing<\/strong><\/span><\/h3>\n<p>This is one of the most important lead conversion best practices. Engaging with and <a href=\"https:\/\/www.engagebay.com\/resources\/nurturing-web-visitors\">nurturing a lead<\/a> is standard fare in the B2C world. You want this would-be customer to feel comfortable with your company.<\/p>\n<p>You seek to educate them about your products and services to guide them towards a purchasing decision.<\/p>\n<p>In B2B business, there\u2019s no need to stop with the engagement and nurturing.<\/p>\n<p>Considering it can take 84 days for a lead to opportunity conversion, which is about three months, you can\u2019t refrain from building a professional relationship for that long.<\/p>\n<p>Take this time to establish your expertise and trustworthiness with your B2B lead.<\/p>\n<p>According to a <a href=\"https:\/\/www.forrester.com\/report\/The+Forrester+Wave+LeadToRevenue+Management+Platform+Vendors+Q1+2014\/-\/E-RES95221\">Forrester Wave<\/a> report, when businesses focus on nurturing their leads, they tend to increase their count of sales-ready leads to about 50%.<\/p>\n<p>Even better is they save about 33% of their money in doing this.<\/p>\n<p>You can also guide the B2B business\u2019 decision in a non-forceful way through lead nurturing.<\/p>\n<p>Data from Gleanster found that those leads that aren\u2019t quite yet ready to buy can be converted at a rate of 15%-20% through nurturing.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Choose your leads carefully<\/strong><\/span><\/h3>\n<p>Lead qualification also shouldn\u2019t be left solely to B2C industries. When trying to convert B2B leads, you can follow the <strong>CHAMP framework<\/strong>. This acronym is <strong>ch<\/strong>allenge, <strong>a<\/strong>uthority, <strong>m<\/strong>oney, and <strong>p<\/strong>rioritization.<\/p>\n<figure id=\"attachment_9355\" aria-describedby=\"caption-attachment-9355\" style=\"width: 600px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/5.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-9355\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/5.jpg\" alt=\"CHAMP framework\" width=\"600\" height=\"426\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/5.jpg 638w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/5-300x213.jpg 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/5-595xh.jpg 595w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-9355\" class=\"wp-caption-text\"><em>Image courtesy of Survicate<\/em><\/figcaption><\/figure>\n<p>Some businesses also follow the <strong>BANT model<\/strong>. This stands for <strong>b<\/strong>udget, <strong>a<\/strong>uthority, <strong>n<\/strong>eed, and <strong>t<\/strong>iming.<\/p>\n<figure id=\"attachment_9356\" aria-describedby=\"caption-attachment-9356\" style=\"width: 464px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/6.jpg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"wp-image-9356 size-full\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/6.jpg\" alt=\"BANT framework\" width=\"464\" height=\"252\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/6.jpg 464w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/6-300x163.jpg 300w\" sizes=\"(max-width: 464px) 100vw, 464px\" \/><\/a><figcaption id=\"caption-attachment-9356\" class=\"wp-caption-text\"><em>Image courtesy of FunnelEnvy<\/em><\/figcaption><\/figure>\n<p>The budget part of BANT determines whether your B2B lead is even in a position to spend on your products or services.<\/p>\n<p>The authority part is about going straight to the big decision-makers so as not to stretch out the conversion process any longer.<\/p>\n<p>The N in BANT, or need, gauges whether the lead company has pain points or a need for your company\u2019s products or services.<\/p>\n<p>Finally, the T or timing is about getting a solution to the B2B company in a predetermined timeframe.<\/p>\n<p>Whichever method suits your company best for qualifying your leads, you want to work with only those that are the most willing to buy from you.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/lead-generation-process\/\">Read also: The Lead Generation Process \u2014 How Does It Work?<\/a><\/p>\n<h3><span style=\"color: #993300;\"><strong>Create buyer personas<\/strong><\/span><\/h3>\n<p>In the B2C sphere, <a href=\"https:\/\/www.engagebay.com\/blog\/buyer-persona-get-started-making\/\">buyer personas<\/a> are a great way to visualize and get to know a lead that\u2019s new to you.<\/p>\n<p>Based on your current audience of leads and customers, you take the most prevalent traits and pain points and use this data to create personas.<\/p>\n<p>These buyer personas tend to have fun names like \u201cHard-Working Harold\u201d or \u201cTough Sell Terri.\u201d<\/p>\n<p>Each buyer persona has their own job, income, family, pain points, and personality, some of which are fictional and the rest of which is based on your data.<\/p>\n<p>When your sales team comes across a real Hard-Working Harold or Tough Sell Terri, they can use the personas as sort of like a blueprint and possibly boost conversions of this lead.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Run a SWOT analysis<\/strong><\/span><\/h3>\n<p><strong>SWOT<\/strong> is short for strengths, weaknesses, opportunities, and threats.<\/p>\n<p>Look to your company as well as the competition in your industry to get a feel for what the market will be like for the coming year and how ready your company is to cope.<\/p>\n<p>You can also rely on a SWOT analysis as yet another way to get a glimpse into your audience, specifically, their dominant income and shopping preferences.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Create conversion goals<\/strong><\/span><\/h3>\n<p>Converting leads is great, but you don\u2019t just want to attract a bunch of leads you have no long-term plans for.<\/p>\n<p>How many leads does your company need to grow financially? How realistic is it to expect a quarter of those leads in a few months?<\/p>\n<p>How long would it take to generate half the leads you want? Which products and services could you introduce that suit your growing leads and customers\u2019 needs?<\/p>\n<p>Without conversion goals, answering the above questions is next to impossible. Whether your company opts to create weekly, monthly, or quarterly lead goals, put these down on paper (or your computer).<\/p>\n<p>Then, determine the steps to follow to meet all your conversion goals, both the smaller, short-term ones and the larger, significant ones.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Use automation <\/strong><\/span><\/h3>\n<p>We discussed the <a href=\"https:\/\/www.engagebay.com\/blog\/cloud-based-crm-benefits\/\">importance of CRM<\/a> earlier, especially as part of your lead conversion system, and we want to take a moment to reiterate that now.<\/p>\n<p>Through CRM, you can load all your new contacts or leads to one dedicated system.<\/p>\n<p>If a current sales team member is associating with that lead, you\u2019ll see a record of communication between the lead and the sales rep.<\/p>\n<p>Other relevant information about each lead is included in their profile as well.<\/p>\n<p>Through automation, you can also assign leads to the appropriate sales team members, send emails and follow-ups, book meetings and consultations with interested leads, and schedule blog articles and <a href=\"https:\/\/www.engagebay.com\/blog\/social-media-engagement-posts\/\">social media posts<\/a>.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Watch your leads on the conversion funnel<\/strong><\/span><\/h3>\n<p><a href=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" class=\"aligncenter wp-image-9357\" src=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7.png\" alt=\"Marketing and sales funnel\" width=\"600\" height=\"399\" srcset=\"https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7.png 1366w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7-300x199.png 300w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7-1024x681.png 1024w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7-768x511.png 768w, https:\/\/www.engagebay.com\/blog\/wp-content\/uploads\/2020\/07\/7-595xh.png 595w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>The above illustration of an average sales and <a href=\"https:\/\/www.engagebay.com\/blog\/marketing-funnel\/\">marketing funnel<\/a> shows the steps needed for a lead to convert.<\/p>\n<p>As the lead begins at the first stage, which is awareness, they\u2019re the most likely to jump off the funnel.<\/p>\n<p>Once the lead has converted into a customer, you can safely trust that they\u2019ll be with your company for a while, although likely not indefinitely, as we said.<\/p>\n<p>When you use a tracking system for your conversion funnel, you can gauge which leads are where on the funnel from start to finish.<\/p>\n<p>You\u2019ll also have your finger on the pulse of what else you\u2019re lead is up to, such as which pages on your website they\u2019re visiting and what they\u2019re doing when they\u2019re there (like clicking links).<\/p>\n<p>Having this information handy allows you to keep the lead conversion process moving smoothly.<\/p>\n<p>You could also potentially retain a disinterested lead before they exit the funnel if you can catch them quickly enough and regenerate their interest.<\/p>\n<p>Once you see the conversion strategy examples and ideas we have for you, you can use them to create a workable plan for your own company.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Start a referral program<\/strong><\/span><\/h3>\n<p>Once your customer base is a healthy, robust one, you don\u2019t necessarily have to do all the hard work to generate and convert leads yourself.<\/p>\n<p>Ask your customers to refer their friends, neighbors, family, and colleagues to your company.<\/p>\n<p>As part of a <a href=\"https:\/\/www.engagebay.com\/blog\/saas-reseller-programs\/\">referral program<\/a>, the potential customer would get something back in return, such as a discount on their next purchase or maybe even an occasional freebie.<\/p>\n<p>If the customer\u2019s friends and loved ones begin referring yet even more people, then these new customers can take advantage of referral discounts and deals as well. You also net twice the leads.<\/p>\n<p>The good thing about a referral program, besides letting your customers get leads for you, is that the trustworthiness is already there.<\/p>\n<p>If a friend asked you to buy from a company because they had a good experience, wouldn\u2019t you give that company a chance?<\/p>\n<p>After all, you trust your friend and their judgment, so you assume they wouldn\u2019t steer you wrong.<\/p>\n<p>You could thus end up with more qualified leads who are ready to buy through a referral program.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Analyze your growth and successes<\/strong><\/span><\/h3>\n<p>No matter which of these methods you add to your lead conversion system, be it some or all, you have to track your successes along the way.<\/p>\n<p>Analytics such as those in your CRM or another software can automatically produce reports with charts and graphs highlighting what you did right for the recent period and what you could do better.<\/p>\n<p>Even if your company has successfully converted a lot of leads lately, you want to keep thinking of inventive ways to draw in more.<\/p>\n<p>Lead gen is a never-ending process, so remember to prioritize it even when all those new leads-turned-customers bring in a lot of money for your company.<\/p>\n<p>&nbsp;<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/sales-lead-management\/\">Read also: How to Win At Sales Lead Management: A Beginner&#8217;s Guide<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Building_a_Lead_Conversion_Process_Heres_What_to_Do\"><\/span><span style=\"color: #339966;\"><strong>Building a Lead Conversion Process: Here\u2019s What to Do<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Now, it\u2019s time for your company to formulate your lead conversion system. That all starts with a working lead conversion process.<\/p>\n<p>The bottom line is that you need to convert leads. The following tactics will allow you to get your process underway so you can start bringing in more leads (including qualified leads), <a href=\"https:\/\/www.engagebay.com\/blog\/lead-scoring-model\/\">lead scoring<\/a> or filtering the ones you most want to convert, and effectively making them into purchasing customers.<\/p>\n<ol>\n<li>Have a testimonials section on your homepage\/landing pages<\/li>\n<li>Streamline and automate your <a href=\"https:\/\/www.engagebay.com\/blog\/sales-process\/\">sales process<\/a><\/li>\n<li>Communicate at the right times<\/li>\n<li>Focus on social media<\/li>\n<li>Create a landing page for each of your service<\/li>\n<li>Prioritize SEO<\/li>\n<li>Produce quality content<\/li>\n<\/ol>\n<h3><span style=\"color: #993300;\"><strong>Have a testimonials section on your website<\/strong><\/span><\/h3>\n<p>You have happy customers, surely, or you wouldn\u2019t be in business. If you haven\u2019t already, <a href=\"https:\/\/www.engagebay.com\/blog\/best-times-send-emails\/\">send your customers an email<\/a> and request they write a testimonial or review to publish on your website.<\/p>\n<p>This is a great method for building trust, as your leads see what you can do for other customers like them.<\/p>\n<p>They then seriously begin to consider where your company\u2019s products and services can fit in their life and which problems your products\/services could overcome for them.<\/p>\n<p>You might choose to add your testimonials to the homepage or on your pricing page, as both are visible locations sure to garner a good deal of traffic.<\/p>\n<p>&nbsp;<\/p>\n<h3><span style=\"color: #993300;\"><strong>Streamline your sales processes<\/strong><\/span><\/h3>\n<p>With more converted leads comes more sales, so your company\u2019s sales team may be doing twice, even thrice the work.<\/p>\n<p>If you don\u2019t already have a rock-solid sales process within your business, now is a very good time to change that. Training your current sales department or hiring new staff are two of your options here.<\/p>\n<p>You might also utilize software, such as <a href=\"https:\/\/www.engagebay.com\/products\/crm\">customer relationship management software or CRM<\/a>, to create lists of high-quality leads and customers, hold onto recorded instances of communications, automate tasks, and see where the leads are on your sales and conversion funnel. CRM in sales is of great assistance.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Communicate at the right times<\/strong><\/span><\/h3>\n<p>Remember how earlier we mentioned that failing to get in touch with your lead or waiting too long could cause them to drop off the funnel? It\u2019s true.<\/p>\n<p>If a lead shares their contact information with you, they expect some sort of confirmation or follow-up shortly thereafter. This inspires confidence that their giving you their email address was a good idea.<\/p>\n<p>Even once you\u2019ve converted the lead into a customer, you don\u2019t want to go dark on them. That will make them feel abandoned and have them second-guessing their decision.<\/p>\n<p>Keep up the communication and follow-ups when necessary. If you\u2019re having a hard time managing when to send emails to so many leads or customers, use <a href=\"https:\/\/www.engagebay.com\/marketing\/marketing-automation\">email marketing automation<\/a>.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Rely on social media<\/strong><\/span><\/h3>\n<p>We haven\u2019t talked much about social media in this guide yet, but it\u2019s a great option for lead conversion. If your company isn\u2019t yet active on all the popular social platforms, such as Facebook, Twitter, LinkedIn, Pinterest, and Instagram, then you want to change that immediately.<\/p>\n<p>Post relevant, educational, and thoughtful content on your social accounts that are targeted to the <a href=\"https:\/\/www.engagebay.com\/blog\/what-is-audience-segmentation\/\">audience segments<\/a> that are most receptive to your products and services.<\/p>\n<p>Between posting content of that nature, share promotional information as well.<\/p>\n<p>This tip applies not just to B2C industries but also to B2B. <a href=\"https:\/\/blog.hootsuite.com\/linkedin-statistics-business\/\">Hootsuite<\/a> mentions that B2B companies can gain significant leads, up to 80%, by marketing on LinkedIn alone.<\/p>\n<p>Social media is powerful, so leverage it!<\/p>\n<h3><span style=\"color: #993300;\"><strong>Focus on your landing pages<\/strong><\/span><\/h3>\n<p>As you begin promoting your <a href=\"https:\/\/www.engagebay.com\/blog\/conversational-marketing-and-its-importance-for-lead-generation\/\">lead gen tactics<\/a>, your landing pages will get a lot of traffic. You need to ensure that for each product and service your company sells you have a landing page for each one.<\/p>\n<p>Don\u2019t write paragraph upon paragraph of promotional information and sales talk for your <a href=\"https:\/\/www.engagebay.com\/blog\/lead-capture-landing-pages\">landing pages<\/a>, as this will bore any lead fast. Instead, add CTA buttons, videos, and images to break up the text.<\/p>\n<p>Keep your copy clean and informative and shorten your paragraphs to a few lines for each.<\/p>\n<p>Landing page templates can help you set up your ideal landing page in less time, but do change some elements of the template so yours isn\u2019t just a copy.<\/p>\n<h3><span style=\"color: #993300;\"><strong>Prioritize your SEO<\/strong><\/span><\/h3>\n<p>Your company is one of the millions across the world. How do you ensure that leads and customers can find your business and yours alone?<\/p>\n<p>You need to get your site at the top of search engine results, and that means working on your SEO.<\/p>\n<p>Search engine optimization rules and Google algorithms change frequently, but you can\u2019t go wrong with writing quality page content (no keyword or link stuffing), having page headers, using keywords in your page URLs, and titling your pages.&nbsp;<\/p>\n<p>To put it bluntly, you must focus on both SEO and CRO (conversion rate optimization).&nbsp;<\/p>\n<h3><span style=\"color: #993300;\"><strong>Produce quality content<\/strong><\/span><\/h3>\n<p>From your homepage to your blog, your social posts, and any other written communications, you want all this to be high-quality.<\/p>\n<p>Writing in such a way allows you to establish your company\u2019s brand voice, which should be consistent from one piece of published writing to another.<\/p>\n<p>That\u2019s a great way to build up your leads&#8217; trust in you and become converted leads.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium ico-fa fasc-ico-before fa-arrow-circle-right\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.engagebay.com\/blog\/marketing-qualified-leads\/\">Read also: Marketing Qualified Leads: All You Need to Know About it <\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"EngageBay_An_Affordable_Lead_Conversion_Software\"><\/span><span style=\"color: #339966;\"><strong>EngageBay: An Affordable Lead Conversion Software<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Lead conversion is the <a href=\"https:\/\/www.engagebay.com\/blog\/lead-nurturing-strategies\/\">process of nurturing leads<\/a> into buying customers.<\/p>\n<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-zaffs-79elbk h-full dark:bg-gray-800\">\n<div class=\"react-scroll-to-bottom--css-zaffs-1n7m0yu\">\n<div class=\"flex flex-col text-sm dark:bg-gray-800\">\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 bg-gray-50 dark:bg-[#444654]\">\n<div class=\"flex p-4 gap-4 text-base md:gap-6 md:max-w-2xl lg:max-w-[38rem] xl:max-w-3xl md:py-6 lg:px-0 m-auto\">\n<div class=\"relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<div class=\"min-h-[20px] flex items-start overflow-x-auto whitespace-pre-wrap break-words flex-col gap-4\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>It is a multifaceted process that involves nurturing leads and guiding them towards becoming paying customers. It requires a deep understanding of their pain points, establishing a strong professional relationship, timing your outreach effectively, and providing a product or service that addresses their specific needs.<\/p>\n<p>EngageBay offers a suite of tools and features to automate your lead conversion process, including:&nbsp;<\/p>\n<ul>\n<li>Lead capture channels<\/li>\n<li>Lead conversion funnels<\/li>\n<li>Lead scoring and management<\/li>\n<li>Multi-step visual automation<\/li>\n<li>360-degree customer view and profiles<\/li>\n<li>Customer journey and <a href=\"https:\/\/www.engagebay.com\/blog\/omnichannel-marketing-examples\/\">omnichannel marketing<\/a><\/li>\n<\/ul>\n<p><a href=\"https:\/\/app.engagebay.com\/signup\">Sign up for free<\/a> or <a href=\"https:\/\/meetings.engagebay.com\/book-demo\">request a free demo<\/a> with one of our experts. 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