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Generating leads is a big step for anyone attempting to grow their business. With your online presence, potential buyers are noticing your business and reaching out to learn more! But your goal isn’t only to generate leads, you need to be able to qualify them and convert those leads into reliable sales, and maintain your customer retention so that you don’t lose any momentum you’ve built with your customers.
This is an excellent time to mention the flywheel methodology. You may be familiar with the sales funnel, an idea of how you can translate marketing into sales, but did you know that this way of thinking can hurt your ability to retain your customers?
The sales flywheel is a similar way of viewing your process with a few major changes. Rather than having your customer pass through your sales strategy, the flywheel revolves alongside the customer constantly, ensuring continuous delight and a higher rate of retention.
The flywheel methodology integrates your marketing sales and service teams to create a high level of customer delight at each stage. Each of these teams is focused on different aspects of attracting, engaging, and delighting. To grow a business that provides value and establishes trust with its customers.
The idea is to be able to focus on more specific areas of your process so you can locate where you’re getting the most friction in your wheel and act accordingly. To learn more about the flywheel, check out what HubSpot has to say.
By understanding the basics of the flywheel, we can focus our efforts on turning leads into sales.
Most mid-tiered businesses rely on traditional tools such as excel files or emails to keep track of the incoming new leads. But guess what, the leads either don’t get followed up in time or sales executives miss out on reaching them after the first attempt. There is no process, system, or automation built into the sales workflow.You need to follow up with leads promptly to drive your sales.
Becoming a resource for your customers is an excellent way to build that positive buyer-seller relationship. It’s not as simple as providing a good or service, you also need to be able to offer a rewarding experience if you want to compete with similar companies. Through leads, you have access to a customer base that is actively curious and reaching out to you. What are you going to do with that?
Whether you are meeting in person, over the phone, on social media, or via email, it’s up to you to ensure that your customer has a good experience. This can encourage engagement, improve retention, and convert leads into sales.
CRM (Customer Relationship Management) platforms are essential to modern businesses. These tools allow you to track information and data on your leads as well as automate processes like newsletters to keep them invested. By using a CRM, you will free up time to focus on your other needs without needing to worry about falling behind in your marketing.
People want knowledge and information to help them make informed decisions. Do you have examples of what you can provide or case studies that showcase how you were able to assist others in their position? Make this content readily available and easy to locate. Ensure that your business is always creating new and valuable information. This will make your business invaluable to your potential customers.
While no two customers or clients are exactly alike, you will probably notice some common needs or interests between them. You can use this information to improve your strategy when it comes to encouraging sales.
How Does This Translate into Sales?
Sales are almost as much about the experience as they are about the quality of your goods and services. If you appear to be generating leads with a disproportionately low sales rate, the issue may lie outside of your marketing strategy. Is your website user-friendly? Are your customers unsatisfied with an aspect of your business? It’s important to be aware of these factors and use them to your advantage when attempting to make changes to your sales strategy. You may need to add a new tool to your roster, for example, a tech stack.
There is a wide variety of tools at your disposal when attempting to generate leads and convert them to sales. The sheer amount of technology and software can be intimidating to some but it’s very important to use what is available. A tech stack (or technology stack) is a collection of software and technology used by a business to complete or manage specific campaigns. Using these tools is the best way to manage your processes so that you have time left over to be client-facing!
Our partners over at HubSpot offer separate tech stacks for marketing, sales, and services. If you are interested in HubSpot onboarding and training, consider working with Measure Marketing! You can contact us today to see how we can help promote your business.
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