How Do You Turn Online Leads into Paying Customers?

How Do You Turn Online Leads into Paying Customers?

Leads generation is something a lot of businesses take seriously—as they should. After all, leads hold so much potential in them. They could turn into sales, partners, referrals, loyal consumers …

… you get the idea.

Generating leads online can be done through a number of means. In fact, if you have a tried-and-tested marketing strategy or lead generation system, chances are you’re raking in those leads like crazy.

Converting leads is the tricky part. New contacts are only valuable if you can actually get something from them, be it a sale or something else. Otherwise, they’re just email addresses on your mailing list.

How do you convert these leads online? Here are three tips we think you’ll find useful.

1. Qualify—Don’t be Shy!

Every lead you get online can be considered either a marketing-qualified lead (MQL) or a sales-qualified lead (SQL). Both are quite different from each other, and both are on a different stage in the sales cycle, but both are just as capable of increasing your conversion rate regardless.

An MQL is someone who, for instance, decides to download a free 30-Day Planner from your website.

An SQL, on the other hand, is someone who wants to know the payment options.

In order to keep both leads online on as paying customers, you need to cater to their specific needs. Catering to their specific needs means knowing what they want, and qualifying them as either marketing-qualified or sales-qualified can help you figure this part out.

Usually a seasoned sales team or sales coordinator will know how to qualify, and there’s a ton of information available out there regarding the process.

Why is this important?

Because if you discuss payment options with an MQL, they’ll feel pressured to buy something—which, FYI, no one likes feeling—and will probably leave.

If you offer an SQL a free white paper, they’ll get bored and impatient and—you guessed it—will probably leave. They don’t want your marketing merch; they want your actual merch.

Learn how to create an appeal content offer for your MQLs by reading this!

2. Keep Them Warm & Toasty

How Do You Turn Online Leads into Paying CustomersKeeping leads warm is a fairly simple approach that can work wonders. After all, we human beings generally respond positively to any form of nurturing; butter us up and keep us toasty, and we’re practically putty in your hands.

This is true even in the business sector.

The trick is to touch base with your leads online and make them feel like you’re genuinely checking up on them without going overboard. Emails once a week or twice a month, a simple (but pleasant) phone call, commenting on their social media posts or greeting them a happy birthday … as long as they’ve shown interest in your product, they’re a lead worth investing in. Doesn’t matter if it takes them just three days or up to three months to buy something

Every successful sale is prefaced by proper customer care. Show them that they matter to you and they’ll keep coming back for more.

3. It’s a Novel Idea!

It’s a scientific fact that human beings love all things “new and improved.” Neurologically speaking, exposure to something fresh and unfamiliar releases huge spurts of dopamine in the brain—a chemical responsible for the brain’s pleasure and reward system.

Long story short? We’re exposed to something we’ve never seen before, we get excited.

This is the concept of novelty and, when used in generating and converting leads online, can be quite the powerful weapon. Think about how Apple and Samsung release new phones (or new versions of their new phones) every couple of months. Logically, subconsciously, we know it’s a marketing ploy. We know there’s not much difference between versions.

And yet we buy the latest version anyway. Because it’s new. Because it’s novel.

How do you turn your leads online into paying customers? Keep releasing new products, or make a few improvements on the existing ones and rebrand them as new versions.

It doesn’t have to be your huge products, either. Let’s say you released a free case study six months ago and Prospect A downloaded it. Add a couple of new statistics to it, rewrite a portion of it, declare it as an updated version of your old case study, and bam! Prospect A will be driven to download the new one as well, just to see what the differences are.

Lastly, it’s worth mentioning that you need to act quickly when converting leads online. People don’t like waiting, and they definitely don’t like feeling like they were tossed aside. Every second you spend not reaching out to your lead is a second wasted. Delays lead to disinterest, and hesitating could cost you a sale.