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How to Improve Conversion Rates

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A common scenario in lead generation programs is below-expected levels of inquiries resulting from marketing efforts. Even when companies distribute information to tens of thousands of recipients, they’re often underwhelmed with the response rates. Or, they drive tons of traffic to their website only to produce minimal truly qualified requests for additional information.

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With many lead generation programs, the problem isn’t targeting thousands of prospects. It’s converting these prospects into viable leads that can be developed through the sales pipeline process.

Marketing is a costly function and executives want to see positive returns on their investment. It doesn’t cut muster if a good portion of your marketing budget goes to contributing leads, but then very few leads are converted to qualified prospects and closed-won new business.

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Getting More Qualified Prospects from Lead Generation Programs

Unfortunately, the scenarios described above are fairly common. To be successful, marketers must work hard at developing the right lead generation programs, converting prospects to viable leads, and then nurturing the leads until they convert to new customers.

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The Steps in Successful Lead Generation Programs

First, you want to generate a significant number of inquiries that convert to qualified leads. In other words, you need to contact enough of the right prospects to generate an acceptable percentage of interest.

Lead Generation Programs Lead Generation Programs Two factors contribute to a good response rate: the quality of the list you use and the appropriateness of your message in your promotional and informational material.

If you aren’t communicating to the right contacts (e.g., titles, roles, companies, etc.) in your target markets, then you probably won’t generate significant interest or qualified leads. At the same time, if you’re communicating to the right prospects, but your message holds no interest for them, your lead generation programs will also fall short of expectations. Relevancy is the key.

Lead Generation ProgramsLead Generation ProgramsSometimes you need to tweak your messages and lists. If something isn’t working, find out why and then change it. You may need to only change your message or offer to increase your response rates.

The next step deals with increasing your lead conversion rate. Simply put, you need to diligently work the leads generated from your campaigns and in your sales pipeline. Ignoring generated leads is a recipe for failure. In fact, The Yankee Group, a well-known research firm, concludes that 40%-80% of new leads are not converted because they’re ignored.

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That’s a lot of lost business simply because marketing and sales professionals didn’t follow-up with the prospects from lead generation programs. If you want a prospect converted to a customer, you need to quickly and regularly respond with information of use to them.

Lead Generation ProgramsLead Generation ProgramsFinally, marketers need to explore technology solutions to help them run sophisticated lead generation and lead nurturing programs. Several cost-effective marketing automation systems exist and companies need to find the right one to match their program goals.

Technology can help you capture and manage your follow up with leads in a relevant and well-timed manner, which can increase your conversion rates, especially when blended with high quality contact data and high-impact telemarketing and teleprospecting programs.

Lead Generation ProgramsLead Generation ProgramsMost every company needs to grow its business. And, the investments they make in lead generation and lead nurturing must show a good return. Develop a system and use it to bring in more prospects.

Then, diligently work these prospects to increase your conversion rates. The end result will have a dramatic effect on your company’s top-line revenue performance and return on marketing investment.

About the AuthorAbout the Author

Larry Fleischman is Director of Marketing for Televerde, a leading B2B provider of sales pipeline development solutions. For more information about lead generation programs, visit http://www.Televerde.com today.