The art of customer conversion involves more than just putting up advertisements. You need to identify intended customers through their profiles and nurture interests before they are ready to make the final purchase decision. 

Understanding who to approach, who to nudge a little, and to whom enticing discounts should be presented needs a keen eye for leads. In today’s comprehensive piece, you will understand how to use leads to convert more customers and drive sales. 

What Are Leads?

Leads are individuals and organizations who are yet to purchase your products. These potential clients fit your customer profile or are interested in purchasing. For success, select and group each lead carefully. This eases target marketing according to needs. 

Careful lead qualification can be done by assessing and segmenting different leads.  This guides you in determining the effort to place on each segment.

So, what are the different types of leads your business may have?

Cold Leads

These potential leads have yet to show interest in your product. In simple terms, these are those people you think would be interested in purchasing if they knew about your product.  This is an exceptional group of leads as they’ll potentially widen your customer base. Consider putting significant effort into nurturing this segment. 

Warm Leads

Your social media page may have numerous followers. Equally, your newsletter may have innumerable subscribers. However, as much as they have shown interest, they are yet to make a purchase. Since this group has shown interest, targeting them with relevant content may be the motivation they need to make that purchase. 

Remember, leads show interest in products in several ways. To identify warm leads, watch out for those who may like a post, visit your website, inquire about the price, or contact the sales team. 

Hot Leads

Such leads are either seconds or a few more kind messages away from making a purchase. Your messages may be just what they need to acquire the homemade scented candles you are selling. Any inquiries about the available varieties, customizable options, and even discounts on prices are hot leads. Interest is often high for this type of lead, so keep your messages highly personalized for this group. 

While the above classification is a broader perspective of leads, you are more likely to benefit if you categorize the leads further. Read more about these categories below. 

Firstly, there are the information-qualified leads (IQL). These are simply those people who have come across any information on your product.  You may have received notifications that someone has downloaded a white paper or visited your website. Note that these leads are in the early stages of purchase. You should continue feeding them with more generalized info. 

Marketing qualified leads (MQL) are those leads who have shown some deep interest. For example, the follower that repeatedly likes your post on Instagram is an MQL. Relevant, personalized content can easily lure them to purchase your products.

Sales Accepted Leads (SRL) satisfy both information and marketing qualities. With this segment, you can quickly commence sales conversations.  Consider making inquiries about their budget and telling them about your offers. 

Safely introduce the purchase conversation. They need a little coaxing as much as they have indirectly made the decision. 

What of Those Who Sample Products?

Indeed, if you have shared a sample of your products with some customers, such are considered product-qualified leads. Observing how they use the product, asking them for a review, or even upselling them on a different and pricier product can work for this category. 

Each conversion action undertaken with each lead aims to push them further down the funnel so that they make a purchase. 

“Your leads and customers need to be able to find your business, having a customized and memorable phone number is a great place to start” says Paul Faust of Ringboost. 

Conclusion

The success of your business may depend on how well you navigate the digital market. This includes identifying and converting leads. This blog has emphasized that there is no specific significant lead. It would help to concentrate on each lead with the same effort dedicated to all. The segments described above clearly describe the different leads and what you require to bring them in to make a purchase. 

Ultimately, putting more weight on hot leads is lucrative, but business leaders have advised focusing a dynamic strategy on all fronts.