Lead received. Prospect impressed. Sales cycle completed.
This idea of perfect lead to a sales conversion cycle is rarely realized. Usually, most businesses are dealing with undecided prospects, unclear sales pitches and limited facility for customer engagement.
Marketing automation system enables businesses to shorten its sales cycle. It begins by recognizing and nourishing leads that are likely to close deals. This allows you to qualify and convert prospects within a significantly lesser number of steps.
Why do leads get dropped or unconverted?
Businesses usually don’t complain about long sales cycles. They actually complain about leads getting dropped and customers being unresponsive most of the times.
This just means that businesses don’t have a strategy to manage prospects in the long-term.
For almost all business, a conversion ratio of 10% to 15% conversion is probably considered OK. This means that almost 90% of interested prospects regularly go away.
According to a study by marketing Sherpa, irrespective of your individual effort, leads take its own time for the lead to be turned into sales.
According to the study, customers usually decide to go with a purchase in the first two months for just 31% combined. But the third month alone has a conversion of 26%. For acquiring these late deciding prospects, you need to make sure that your conversion cycle acquires and streamlines leads across the timeline.
Probably, sales people also lose sight with prospects over an extended period of term. This can also be a direct reason for leads getting dropped. With organizing and managing customer conversations, you can engage prospects over the long-term and bring down the conversion ratios.
Setting up a conversion funnel
A sales funnel augmented by marketing automation has the direct effect of increased revenue. By managing prospects in a direct way, you can classify each part of the prospect and consequently devise strategies to efficiently reach and manage their requirements. This helps you to efficiently derive conversion and manage customer engagement. All these processes need to be managed on a day-to-day-to-day basis. Ultimately, you could create a system that understands customer requirements and streamline their needs of the concerned departments.
Automate your Follow-up Responses
Managing on-time responses is an easy and straightforward approach to managing your follow-up responses. This involves receiving each client query and setting a precise timeline for providing lead response. This increases your opportunity of conversion.
Sales CRM lets you set-up a customer profile with automated follow-up responses connected along a time line. This makes sure that each prospect has the ability to raise right on-time customer response.
By automating a customer follow-up cycle, you could be sure that all clients are accessible along a particular time line. This system allows you to respond manually as soon as a prospect responds to a response. This system increases your chances of acquiring a customer response to long-term, consequently decreasing your follow-up response time.
Create automated outbound Campaigns
Marketing automation lets you directly collect and retrieve lead contact list through multiple platforms. This data lets you run planned outreach campaigns, increasing customer knowledge and retention. This enables you to run outreach campaigns reaching multiple customer contacts.
By means of parameters and filters, you can segregate different customer sections, letting you create campaigns that appeal to specific prospect’s objectives. This process can increase your response rates and further increase conversion.
Building Customer Knowledge
Marketing automation gives you the essential tools to gain knowledge about customer interest and priorities. You can pull these tidbits to add to your marketing campaigns to increase the conversion.
But most businesses fail to put the right use of customer knowledge. Some look at customer interest as something to be negotiated and agree-upon.
By collecting user interests, you can create specifically tailored packages to reposition your business to appeal to your core customers. Marketing automation cuts back on your sales cycle duration by precisely understanding each customer requirement and enabling them to increase conversion.
This ensures that your business has the perspective and information required to pitch strategically to every customer. You can also apply the knowledge of actual customer requirement at different negotiation phases.
Get Closer to your Customers
According to studies, people are much more likely to buy from a business that they know and are aware about. By repeatedly connecting with your audience, you can increase the connection with your audience. This enables you to build engagement and reconnect with your customers.
When you are dealing with customers confused with umpteen options, just providing a better product is not good enough. You should be able to remain within consumer radar to ensure that your business gets enough attention. Marketing automation system shortens your sales cycle and acquires maximum consumer attention.