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The Three Key Drivers to Lead Conversion

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Maximizing ROI of generating leads is essential to any successful business, especially when utilizing expensive internet leads. As companies scramble to find the best methods of squeezing every last drop of value out of their leads, it’s important to remember that a solid lead management system is often the key to managing these leads properly. Jeff Solomon, one of the founders of Leads360, has laid out the Three Key Drivers to Lead Conversion. By focusing on these three drivers, any sales staff can begin to convert more of their leads and dramatically increase profitability.

Speed: The first key driver is speed. There are plenty of Metrics that indicate just how important speed is to the sales process. The early bird gets the worm, and the first salesperson on the phone with a lead will usually get the sale. Research has shown that 78% of leads will close with the company that contacts them first.[1] Furthermore, leads are 22 times more likely to convert if they’re contacted in the first five minutes.[2]

Sales Process: The second Key Driver to Lead Conversion is sales process. Consistent success in sales, demands a repeatable and clear sales process that can be easily tracked and adjusted by sales managers and marketing executives. By approaching every lead in the same manner, you’ll find that it’s easier to identify the metrics necessary for maximizing your ROI.

Persistence: Persistence is another Key Driver to Lead Conversion. Most leads won’t even be contacted on the first attempt, let alone closed. As a result, a solid sales staff will know to keep the pressure on and make as many calls as necessary to contact a lead, and ensure that every opportunity has been taken to convert it. Leads360 studies have shown that a whopping 93% of leads are contacted after the 6^th attempt, while only 39% are reached on the 1^st call.[3]

By following these Three Key Drivers to Lead Conversion, your sales staff can begin to focus their efforts and really start to see results.

[1] First to Call: Why You Can’t Afford to be Second; Leads360 Whitepaper, June 2008

[2] Click to Dial Study; Leads360 Whitepaper, November 2009

[3] Six Calls Equals Success: The Surprising Impact of Call Frequency on Lead Conversion; Leads360 Whitepaper, November 2009