Lead Nurturing Campaigns: What Qualifies As A Conversion In Today’s Sales World?
It’s 2014 and lead nurturing campaigns have changed – so has the buyer journey. How do you analyze sales data and determine what constitutes a legitimate conversion in today’s sales cycle? The answer is always unique to your organization and industry.
That being said, systemic developments have taken place, and they impact anyone working in sales. The modern buyer doesn’t fit into the traditional sales process and the concept of a conversion.
You don’t need to be reminded of the sales paradigm shift that was long in the making, thanks to the internet. But understanding the nature of that shift and what it means is the key to honing your craft and closing deals faster.
There are two important takeaways from this change:
- Initial sales conversations are taking place further along in the buyer journey. Your prospects are educating themselves and “converting” on their own. Buyers no longer lean so heavily on you to educate them about your product or service. They’re doing it themselves. In a way, your job is a little easier.
- More decision makers are along for the ride down the buyer journey. That means there are more stakeholders to impress in each and every deal. There are additional voices impacting your prospects’ purchasing decisions. Your job is more difficult.
So, again, how do you analyze sales data from your lead nurturing campaigns and determine what constitutes a legitimate conversion in 2014?
Take a proverbial step back and look at your prospects’ buyer journey and the sales assets along the way. Some of your prospects come to you having circumvented certain content and “conversion points” that your team strategically laid out for them. In turn, you have to re-identify what conversion points are the most telling and valuable indicators of a potential deal.
In this era of selling, there are many mini-milestones between the legitimate conversions. Some of these milder milestones might include a prospect subscribing to your blog or following you on Twitter. At this stage, they are clearly aware of your services and see a benefit from staying up-to-date on your educational content. Moreover, they value your organization’s knowledge and expertise.
Further down the line in your lead nurturing campaigns are more important conversions, those that are better barometers of the “ultimate success” – money in your pocket. These milestones might include starting a free trial, requesting a demo, or even a quote or estimate. At this stage, you’re close to the finish line and are in serious consideration.
Somewhere in between these two groups of examples are steps such as downloading e-books, watching webinars and other activities. You must take a high-level look at your lead nurturing campaigns, then analyze the data and take action based on the unique characteristics of your sales process.
The Tellwise Nutshell (TTN): Prospects don’t play by rules of the traditional sales cycle anymore. To properly assess your sales analytics and take action on your analysis, first consider how the buyer journey takes place today. Evaluate the importance of actions such as Twitter follows, downloaded whitepapers and requested demos. That way you’ll be able to make smarter, more impactful decisions with your sales data.
To learn more about using analytics to improve your prospecting strategies, check out the Tellwise Tipsheet.