Site icon Method

The best way to convert leads into sales and increase profits

Ryan Flanigan
An orange illustration of two people communicating through a long tube.

At the core of every business, it all boils down to sales, doesn’t it? 

No matter how innovative your product or service is, how persuasive your marketing is, or how efficient your operations are, the true measure of success is profitability. And that’s where sales come in — the decisive factor that separates thriving businesses from struggling ones. 

You know that turning leads into sales is key to driving business growth. But what’s the most effective way to convert leads, and how can you refine your sales process to maximize revenue?

As a business owner, entrepreneur, or sales professional, you’re probably grappling with this question. You may have even already:

Yet, your conversion rate remains a nagging concern. 

In this article, you’ll uncover the fundamental principles of turning leads into sales, highlighting proven strategies, tactics, and tools to: 

Let’s jump in.

Need an easier way to keep your QuickBooks data up-to-date?

Try Method’s two-way sync

What does it mean to convert leads into sales?

Leads are people or organizations who have expressed interest in what you’re selling. For some examples, they may have: 

Turning leads into sales means effectively persuading potential customers to choose your product or service. From there, the idea is to turn these prospects into loyal, paying customers. It’s the crucial step where interest is transformed into action, driving revenue and growth for your business.

Is there one single best way to convert leads into sales?

No, there isn’t one best way to convert leads into sales. The conversion process differs from business to business. However, a good tip to remember is that turning leads into sales generally requires a multi-level strategy that spans multiple channels and media using the best marketing and sales practices. 

Some effective strategies for converting leads into customers include:

Ultimately, the best approach combines a deep understanding of your leads with a robust sales process that nurtures and converts them effectively.

MQLs vs. SQLs: What’s the difference?

Marketing-qualified leads (MQLs) are leads who have shown interest in your business offerings by performing actions like: 

However, they are not ready to buy from you because they are still in the “early awareness” stage of the buyer journey.

Sales-qualified leads (SQLs) are leads who have shown that they want to purchase from you. They may have: 

Your sales process, and ultimately your business, will benefit from a clear understanding of the difference between MQLs and SQLs, as they each require different nurture strategies. 

When dealing with MQLs, provide relevant content and engagement opportunities, and they can become SQLs over time. When dealing with SQLs, your sales team must approach them and encourage them to make the final buying decision. Read on to discover how you can turn sales-qualified leads into loyal customers. 

Stages of lead conversion and best practices

No two companies’ sales pipelines are the same. You’ve got to define yours clearly to see how leads move down the funnel. Here’s a broad framework that describes most businesses’ pipelines.

1. Lead generation

This is the first step in your sales pipeline. It’s where you prospect and capture the right leads. Prospecting refers to activities aimed at identifying, researching, and engaging potential customers who may be interested in your product or service. Its goal is to fill your sales pipeline with potential customers. 

Traditionally, prospecting relied heavily on cold calling the target audience. However, an effective lead generation strategy today should incorporate a variety of strategic activities, such as: 

Capturing is where you convert interested prospects into leads. Common ways of doing this include collecting contact information (like email and phone number) through marketing strategies like:

See an example of how you can capture leads on your website below.

The fate of your lead generation strategy rests solely on targeting and capturing the right market and understanding your customers’ needs. 

2. Lead qualification

Lead qualification is evaluating generated leads based on their likelihood to purchase your product or service. This stage answers a simple yet crucial question: is this lead worth pursuing? If you get this answer right, you’ll prevent your business from wasting resources on prospects unlikely to convert. 

Also known as the “needs analysis” stage, this is where you determine if your product or service solves the pain points of each lead and if they can pay for it. To get the most out of this process, it’s essential to segment leads by:

With proper segmentation in place, you can:

With this strategic approach, business owners can save resources while improving customer engagement and increasing conversion rates.

3. Lead nurturing

Now that you’ve determined the leads worth pursuing, it’s time to nurture them. Lead nurturing involves engaging with leads, addressing their pain points, and providing them with personalized interactions in line with their needs and interests.

If your lead is part of an organization, you want to first identify the key business decision-makers and address them directly to cut out the middleman. Then, find out your lead’s preferred communication method (face-to-face, email, phone calls, Slack, WhatsApp, etc.) and establish contact. 

These tips can kick your lead nurturing process up a notch:

4. Closing the sale

You’ve nurtured your leads and built trust, and they’re ready to buy. Now it’s time to seal the deal! Keep these key points in mind:

5. Follow-up and retention

Sealing the deal might leave you feeling your job is done, but it isn’t. You want to start a dialogue with your leads as soon as they convert. As a part of this conversation:

With CRM platforms like Method, you can automate follow-ups to ensure you’re always engaging with customers — without having to spend too much time on them.

As each customer relationship develops, it’s a good practice to identify complementary products or services you can upsell or cross-sell to enhance their experience.

Finally, measure performance using reporting and analytics to track metrics like:

Stop spending your day sending emails, estimates, and invoices.

Watch Method do it for you

Technical strategies for how to convert a lead into a sale

Lead generation and conversion rely on a combination of factors, not just one magic solution. Think of it as adjusting various levers to fine-tune your sales machine. Here are some levers you can pull to get your conversion ratio up:

Build and optimize your website

Your website is often the first impression potential customers have of your business. To make it count, start by crafting a solid SEO strategy. This isn’t just about stuffing keywords — it’s about creating a smooth user experience that search engines will love, too. Use thorough keyword research to identify what your customers are searching for. This will inform your content creation and ensure you’re speaking their language.

But SEO is just the beginning. To truly improve your website’s performance, you need to test and refine it. Run A/B tests to compare different versions of pages, CTAs, and content. This will help you identify what resonates with your audience and what doesn’t. Use data-driven insights to inform design and content decisions.

Another crucial element is an effective FAQ page. This goes beyond providing responses to common questions, as it’s about showcasing your expertise and building trust. Use research and clear, concise language to address customer concerns, and you will be converting visitors into leads in no time.

Develop your content marketing

Content marketing is the unsung hero of lead generation. It can help you build trust, establish authority, and attract potential customers through valuable, relevant content.

Start by using your SEO strategy to inform your content creation. Use keyword research to identify gaps in the market and craft content that resonates with your target audience. Produce high-quality, engaging content that addresses their pain points and interests.

Educate and inform with blog posts, exploring topics such as:

But don’t stop at written content. Explore different mediums to reach your audience, such as:

Social proof is powerful. What others are saying about you and your business can help you attract more leads. Share positive customer testimonials, reviews, and ratings to build credibility and trust. 

Invest in advertising

Advertising can boost your lead-generation efforts. When deciding how to advertise, consider digital and local options. If your business type allows for it, a blend of both would be ideal. 

Behavioral ad campaigns

To get the most returns on your digital advertising investment, run behavioral campaigns, which target individuals based on their actions and behaviors online, such as:

With this approach, your ads can reach high-intent prospects and increase your chances of converting leads to sales.

PPC

Similarly, conducting PPC (pay-per-click) keyword research can contribute to boosting your conversion metrics. It helps you to:

Retargeting

Finally, another form of online advertising you should use is retargeting ads. These ads target users who have previously interacted with your brand but haven’t yet converted. With retargeting ads, you can remind them of your brand and encourage them to revisit your website or complete a desired action. That way, you’re more likely to: 

Whichever advertising you choose to invest in, use clear and concise calls-to-action (CTAs) in your ad copy to drive action and conversions.

Optimize your lead-scoring model

Lead scoring is a dynamic process, not a one-time setup. To maximize its effectiveness, continually refine, build upon, and reevaluate your lead-scoring model.

Your ideal customer profile (ICP) can evolve as your business grows. Market trends shift, customer needs change, and your value proposition must change too. Regularly reassess your lead-scoring criteria to ensure alignment with your updated ICP.

Here are a few questions you must ask regularly about your lead-scoring approach:

Your answers to these questions will give you data and insights for refining your lead-scoring model and improving your conversion strategies.

Employ an email marketing strategy

Email marketing remains an effective channel for lead nurturing and conversion. To maximize its potential, start by choosing the right email marketing tool for your business, such as:

These tools offer features like:

If you want to get the best results from your email campaigns, remember to use tracking codes to:

Build a social media presence

Social media is a powerhouse for lead generation and brand awareness because of the sheer number of users and how much time they spend on those platforms. If you want to tap into its potential, you must approach it strategically.

For starters, identify the right channels based on your buyer persona. Each platform is most suited to different audience profiles and marketing content:

Whichever platforms you decide to use, here are a few strategies you can use:

Make phone calls

Sometimes, the most effective way to connect with a lead is through a simple phone call. If you have a phone number in your lead records, consider reaching out.

While cold calling success rates only average, according to our research, around 2%, it can yield significantly better results as part of a targeted outreach to warm leads. Done right, it can also create a domino effect of word-of-mouth referrals. 

Phone calls offer a personal touch, letting you:

Also, pay attention to your leads’ preferences. Some may prefer to speak to you or your team directly. In such cases, a call might be the only way to nudge them forward in their customer journey.

Try out influencer marketing

Another way to boost your conversion is through influencer marketing. This lets you promote your brand by tapping into the credibility and reach of experts and leading voices in your industry or community. 

Here are two major types of influencers you can partner with:

Influencers give your brand access to an audience base who already trusts them. Some of this trust will be transferred to your brand simply because you associate with the influencer. 

That’s why it’s important to select influencers that:

Network to make partnerships and build community

Networking is also a powerful way how to convert a lead into a sale. With it, you can: 

Connect with fellow industry professionals on social media platforms like LinkedIn to build meaningful relationships. Online forums are another digital option for demonstrating your expertise to your target audience. 

You may also want to seek out and attend local events in your niche, both online and offline. You can even go a step further to create your own events and community. Just try to work with others in your field while at it.

Leverage software

Thanks to technology, you can do almost everything faster and better, including converting leads to sales. You can tap into that technological advantage with CRM, AI, and automation tools, for example. 

With such tools, your sales team can build their lead lists faster by automating lead collection with digital forms. They can also track and manage leads and send follow-ups all in one software, like in Method. 

Top tips for turning leads into sales

The more, the merrier

In lead generation, rejection is inevitable. In fact, 80% of new leads never translate into sales. So don’t feel dejected when the majority say no — every “no” brings you closer to a “yes.” 

Remember, every conversion is a win, regardless of how small it may seem. The key to success lies in diversification and persistence. The more strategies you use and invest in, the greater your results will be.

Offer expert advice

Building trust with potential customers requires more than just a sales pitch. Don’t think only in terms of sales. Instead, offer free advice and assistance to establish your expertise and authority. Wow your audience by offering:

While at it, demonstrate your understanding of customers’ needs and show your product or service’s value.

Have your sales and marketing teams work together

Even if you have your sales and marketing teams operating separately, their ultimate goal is the same: driving revenue growth. Too many leads may slip away during hand-offs if both teams don’t work together to achieve the goal. To prevent this, get rid of silos across your business and let ideas flow across the organization.

Respond in a timely manner

When leads reach out, timing is crucial. Promptly responding to their questions and inquiries not only makes them feel valued, but also enhances the perception of your customer service.

Offer specials, discounts, and freebies

Let’s face it — everyone loves a good deal! Offering specials, discounts, and freebies is an effective way to capture attention, build excitement, and spur leads to act. For example, you can offer a discount code or a two-week free trial of your product or service. You can also offer seasonal promotions to take advantage of regular holidays and festivities.

Use appealing calls-to-action (CTAs)

A well-crafted call-to-action (CTA) can make all the difference in converting leads. Effective CTAs combine clarity, conciseness, and active language to prompt action. While you’re at it, use “you”-centric language to put the reader first. 

For example, instead of saying “Click here,” you might consider “Start your free trial today.”

In addition, be sure the lead is ready before asking for an action, or you might lose them altogether.

Use visuals

In today’s visually driven world, a wall of text will get you nowhere. You want to break up content with engaging images, videos, and graphics to capture attention and convey your message.

Listen to your unhappy customers

Negative feedback isn’t always all bad. Don’t ignore or skip over them. Unhappy customers can give you valuable insights into strengthening your sales process. Even negative reviews can help you grow, evolve, and address issues with your product or service.

Online payments, automated leads, and customer management?

See how Method does it all

Best way to convert leads into sales FAQs

What is a sales funnel?

A sales funnel is a model that represents the journey a potential customer goes through, from their first interaction with a company to the final purchase. 

What is the difference between prospect stages and pipeline stages?

Prospect stages refer to the early phases where potential customers are identified and their interest is gauged. Conversely, pipeline stages refer to the entire sales process, detailing each step from initial contact through to the closing of a sale.

What is a good lead conversion rate?

A good conversion rate varies by industry and specific business goals. Average conversion rates are between 2% to 5%, while anything above 5% could be seen as strong performance.

Ready to turn more leads into sales without the extra effort? Try Method free for 14 days.

Exit mobile version