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9 Proven Tips and Tricks to Boost Your Sales Conversion Rate
January 24th 2022
Inbound Sales
sales-conversion-rate
Only 67% of sales reps are able to hit their quota! It deeply impacts the organization’s sales conversion rate. Several leads are generated in the lead prospecting stage. But only a tiny percentage of the leads generated are converted into customers. A lot of time and effort is spent in prospecting and qualifying these leads. There are some proven tips and tricks to boost your sales conversion rate but before that let’s learn about conversion in detail.

Table of Contents

  • What is Sales Conversion Rate?
  • Why is Sales Conversion Rate Important?
  • Tips and Tricks to Boost Conversion Rates
  • Implementation of Conversion Rate in Your Organization

What is Sales Conversion Rate?

In brief, the sales conversion rate is the percentage of qualified leads that result in closed deals. It helps you measure the success of your inside sales efforts by looking at the leads that finally became customers. The conversion rate can be calculated as follows:

Conversion Rate = No. of leads converted into customers ÷ Total no. of qualified leads

Why is Sales Conversion Rate Important?

Tracking the progress of your sales team by measuring your conversion rate is extremely important. It is mainly because even a small change in your conversion percentage can make a big difference. Some reasons as to why it is essential to measure this rate are as follows:

  • Measure Performance

  • Sales reps are expected to meet specific success metrics. The sales conversion rate is one of the most critical performance success metrics. You need to measure your team performance based on the conversion rate to determine the effectiveness of the sales efforts. Measuring performance can help identify the challenges you might face in meeting your target conversion rates.

  • Enhance Quality Of Leads

  • Converting unqualified leads into customers cannot benefit you in the long run because they might end up leaving eventually. A close analysis of your sales conversion can reveal where and why the qualified leads are dropping off. Ensuring that only qualified leads are engaged helps improve the quality of leads.

  • Improve Sales Cycle

  • Measuring the conversion rate helps increase the efficiency of your sales cycle. It enables you to identify the gaps in your sales cycle. You understand your prospects and their pain points better in the bid to improve conversion.

  • Increased Revenues

  • Better conversion results in better sales which translates into improved revenue generation. Measuring conversion rates and improving them will help you generate more revenue.

Tips and Tricks to Boost Conversion

Tracking the rate at which you are converting your leads is crucial for your success. However, measuring the rate alone doesn't lead to success. You have to work towards boosting your sales conversion. There are various techniques to boost conversion. Here are some proven tips and tricks to boost your sales conversion rate:

1. Set up a sales funnel

A sales funnel visually represents a prospect's journey from introduction to final conversion. A company generates many leads each day. However, not all leads generated are qualified to become eventual customers. The sales funnel used to filter out the unqualified leads.

Like a funnel, it is wider at the top and narrows down as unqualified prospects drop off at different stages. A sales funnel is divided into stages depending upon the prospect's journey. There are typically six stages in the sales funnel, which are as follows:

Sales Funnel

By targeting only qualified prospects, the sales funnel provides better sales conversion. Furthermore, the sales funnel helps understand where and how qualified prospects drop off. It thus improves the prospect's experience at each stage which betters conversion.

2. Create a Buyer Persona

A buyer persona or a customer persona is a fictional persona that represents customers from within your target market. It involves understanding the needs, pain points, and motivations of a specific type of prospect within your target audience. The leads generated are qualified or disqualified using quantitative and qualitative data based on the buyer persona.

Your organization might have more than one buyer persona, depending on how your target market is segmented. It helps you understand your prospect's better. It helps improve your conversion rate by ensuring that resources are dedicated to targeting the right prospects.

3. CRM and Sales Automation

There is a direct impact on how you sell with the changing prospect behavior. Sales automation and customer relationship management or CRM platforms are gaining traction amongst organizations. As the name suggests, sales automation software helps automate routine tasks for sales reps. Tasks like generating period reports, assigning day-to-day activities to sales reps, or designing workflows are easily automated.

On the other hand, a CRM platform ensures that all data related to prospects and customers are fed into one system. You can devote the time saved by automating tasks to identify and perform more critical tasks like making essential sales decisions or increasing revenue generation. It ensures that prospects are better targeted through personalization. Both platforms together improve sales conversion rates by time-saving and better coordination.

4. Your Landing Page

Suppose you came across a sales automation software online. You decide to visit the website, and as you land on the first page, you find nothing concrete about the company or its product. You leave the page, never to come back! Your website is usually the first point of contact for prospects. "First impression is the last impression" holds good here.

Building an engaging landing page can help generate awareness and interest among your prospects. Since it might be the only chance to make the prospect aware of your company, you must include a brief on the benefits and use cases of the product or service. The landing page should be persuasive and differentiate you from your competitors for better results.

5. Make The Headline Clear

Headlines turn heads and complement your sales efforts. Whether spreading awareness or generating interest in your product, concise and exciting headlines can attract more prospects. It can help in piquing the interest of highly qualified prospects.

Telling the prospects about your organization its offerings can also help evaluate. Prospects can easily compare your product against your competitors. It can help you improve brand positioning, communication, and eventually, a conversion.

6. Strong Call-To-Action

A thoughtful call-to-action can help you engage prospects better. It encourages immediate action from prospects. It is anything that provokes a quick response from the prospect and, at times, even a direct sale.

How exactly can you design a strong CTA for your organization?

You can incorporate action words or phrases into sales scripts, advertising messages, or web pages. Some examples of CTAs include "Subscribe to our newsletter," "Register for the webinar," "Download the e-book," "Book A Meeting," among others. A strong CTA can increase conversion by engaging prospects and encouraging them to buy from you.

7. Use Real Testimonials

Trust is an essential factor while converting prospects. Most websites feature testimonials from customers that provide insights into their experience. Using real testimonials from customers can help in conversion rate optimization. It attracts new prospects by showing that your organization and product or service are genuine.

Testimonials can highlight how new prospects can overcome the pain points or challenges through your product or service. It will reassure them that your product aligns with the challenges they are facing and help improve your win rates.

8. Keep your Contact & Support Accessible

Usually, prospects may want to reach out to you with queries before making a purchase decision. If your contact or support is inaccessible, you might miss out on prospects that might be highly interested and qualified. It might be the case that you don't receive many calls, but providing contact information also helps build credibility with the prospects. It does so by making them feel that you are easily accessible to them and helping them with their purchase-related queries whenever required. Thus, when focusing on conversion rate optimization, it is essential to make yourself approachable to the prospect by displaying your contact details.

9. A/B Testing is the Key

A/B testing can help you try different techniques to implement the best one based on results. You can improve your conversion rates by trying and testing other tactics. A/B testing will help you check the effectiveness of the techniques with a data-driven approach. You can optimize the different touchpoints to improve your prospects' purchase experience.

Implementation of Conversion Rate in Your Organization

Actively improving your sales conversion requires changes to your sales process. You need to measure your sales performance periodically, recognize the gaps, and implement changes to improve. Take a cue from the above nine tips to boost your sales conversion rate! Get started by implementing tricks in your organization to make the most out of the leads generated.

ABOUT THE AUTHOR
Shreya Palsani
Contributing Writer
ABOUT THE AUTHOR
Shreya Palsani
Contributing Writer
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