Do you have low leads-to-lease conversion rates? Typically, low conversion rates are attributed to poor-quality leads, but there are many obstacles that can affect a sales team’s ability to close. The good news? There are ways to overcome them. Each of these obstacles and solutions are detailed in G5’s recently published white paper, “How to Turn Digital Marketing Leads into Leases.” The following provides an overview of the tools and tactics you need to improve conversion rates.
Align Sales and Marketing Teams
Undefined roles, expectations and processes for communication between sales and marketing teams are the most important obstacles to overcome. To align your sales and marketing teams, you need to create a balanced sales process that has the same metrics and measure of success for both teams. According to Enquire Solutions, a good sales process should be broken into four stages: lead generation and outreach, lead capture, lead nurturing and closing. Revenue-driven goals incentivize both teams to generate qualified sales leads. This focuses on tactics that add new customers, not just lead generation.
Automate Customer Service with a CRM
You can easily improve your customer service with a customer relationship management (CRM) system. These systems provide you with essential tools like customer activity tracking, interaction monitoring and contact information recording. There are several factors to consider when selecting a CRM for your self storage facility. Most importantly, it should automatically import data from all lead generation sources and customize workflows across facilities and other departments.
Improve Lead Contact Rate with a Defined Follow-Up Process
We know that follow-up takes valuable time and resources that are already limited, but it is essential to increasing lead conversion. Failure to follow-up can result in a dramatic drop-off in qualified leads. Your follow-up process must capture and engage all leads, quickly and efficiently. Just how important is it to respond quickly? Leads that are responded to within ten minutes have been shown to have a 185% higher conversion rate than those that are not.
Establish a Lead-Nurture Program
Underdeveloped lead-nurturing campaigns are another reason why 79% of marketing leads never convert to sales. Marketo research reveals that companies that excel at lead nurturing generate 50% more sales leads at 33% lower cost. How do you keep prospects engaged? Content marketing and email are two great solutions to nurture leads. Both solutions rely on understanding your audience and creating relevant, conversational and strategic opportunities to reach leads.
Read the Full White Paper to Learn More
Turning a lead into a lease is not simple, no matter how qualified the lead. To continue to learn how to increase your lead-to-lease conversion rate, download G5’s full white paper. It further details industry-specific sales and marketing team balance, how to choose a CRM, setting up a follow-up process and how to properly nurture leads via contact management and email.