A Practical Approach to Leak Proof Your Lead Conversion Funnel
Learn about the four stages of the lead conversion funnel and how to effectively convert a lead into a customer
The lead conversion funnel is often considered impenetrable, but little do we realise it can develop leaks over time. If left unattended, these leaks can lead to lost opportunities. So, it’s essential to understand and address the issues of lead conversion funnel to maintain a healthy lead conversion process.
The four stages of lead funnel are
- Awareness
- Interest
- Consideration
- Action
You will face various challenges at each stage, so, it’s essential to understand and address these issues to maintain a healthy lead conversion funnel.
Stage 1: Awareness
This is the stage where potential leads identify their problems and look for a solution. All you must do is get in front of your leads to make the best impression.
Then what is the leak at this stage?
Attracting the wrong clients!
Recognizing and quickly discarding unqualified leads is essential to conserve resources and time. Focus on leads that align with your ideal customer persona, and verify their information, and ensure data accuracy.
Fix: Create a detailed customer profile using tools like InFynd to gather company information. Curate your marketing campaigns with personalised content addressing current events, emotions, and search trends.
Stage 2: Interest
The second stage involves capturing lead information through forms and email nurturing campaigns. In a competitive landscape, you need to stand out, so you should offer compelling lead magnets and optimize lead capture forms to make the process seamless for prospects.
And the leak in this stage is leads not signing up!
Fix: Creating lead magnets that provide immediate insight into your solutions, setting you apart from competitors.
Stage 3: Consideration
In the consideration stage, differentiate your product or service from competitors consistently through marketing campaigns and content. Trust can be built only by educating prospects about your business. Get your unique selling point front and centre of the prospects.
The leak is failing to differentiate yourself from the competitors!
Fix: Build a content strategy by breaking down lengthy research reports into short Q&A videos to engage prospects and demonstrate trustworthiness.
Stage 4: Action
The final stage involves closing the sale, which can be challenging due to the need to demonstrate you’re different, overcome the resistance of prospects, and gain their trust. Ask the right questions to understand your prospect's needs and make a move accordingly.
And what is the leak?
Closing the sale itself!
Fix: Use open-ended questions to encourage emotional engagement, because once you build an emotional connection their trust will improve. Then you can assess whether a prospect needs further nurturing or is ready for a purchase.
By addressing these four major leaks, you can improve the efficiency of your lead conversion funnel. However, perfection is a myth. You will still find unqualified leads occasionally, trouble with campaigns, and lose a good prospect. And that is perfectly alright! The key is to learn from the blunders and improvise the funnel along the way.
