Ep 37: How to Improve Your Conversion Rate - Coaching Conversations

In this episode, Nick and Chris discuss the three tops ways to convert prospects into action.  Listen in as they guys discuss your message, your offer, and your follow-up. What will ensure you beat your competition to winning clients?  There are a lot of “tire-kickers” that aren’t ready to spend… how can you reach the ones that are poised to do so?

What can you do practically to improve your offer so that our stand out among your peers?  How can you ensure you don’t lose a client through lack of follow-up?  The answers are simple and powerful when implemented. 

Get a pen ready and write down the simple steps to Client Conversion.

Welcome to Coaching Conversations.

Time Code/Show Notes 

00:25  Chris welcome to the show and the focus on improving your sales conversion rates. 

01:40  Chris asks Nick … “what are your top 3 ways to convert better sales from leads to over the line?”

02:13  How good are your leads?  We may be reaching a lot more people via social media …but how suitable are these?

02:46  Nick’s first key to successfully converting leads to becoming client:  Important to REFINE YOUR MESSAGE.  Makes all the difference to who you’re attracting.

Your business may be able to help many types of people – but do you really want to or need to? 

04:02  How do you refine your message?  You need to test it.  3-5% are ready to purchase or proceed.  You need to ensure your message gets in front of them.

06:04  35% need to be convinced a little bit more.  They need more connection and communication to help confirm their decision to move forward with you.  Address their problems and how you can solve.  The rest (vast majority – 60%) are not ready to buy and probably won’t be anytime soon… so focus is vital on the ones that are.

07:59  Nick’s second key is to REFINE THE OFFER.  If a client is comparing two or more competitors for their purchase…. Ensuring your offer stands out as better value will convert better.  It’s not that difficult to do so with some creative thought.  You can offer more without if costing your much more.  Your offer needs to clearly show value.  Nick suggests some practical ideas to get the mind ticking.

12:26  You need to dial up the wow factor in your offer.  It doesn’t have to lose you money.  There are strategies to ensure it’s impactful without affecting your bottom line.  Nick offers more suggestions.

15:34  Nick’s third key to converting leads… FOLLOW UP.  Many clients fall off the radar due to a lack of follow-up.  75% of businesses give up after the second or third connection.  Today it may take ten or more connections to get a client to proceed.  The fortune’s in the follow-up!

18:20 Follow-up is massively underutilized.  Set up a system that does it for you.  Automate emails, follow-ups need to be designed.  We can spend a lot on getting leads and then let them fade with a lack of follow-up.  Step by step – design your client timeline.

21:50  Don’t overcomplicate things.  Do the basics well and consistently.  It’s a game of persistence.

EPISODE SUMMARY

In brief…  Nick and Chris chat about ensuring your message is getting through to the right people at the right time… and what to do when you have reached them.

1. Refine your message to ensure you’re targeting the RIGHT client type.
2. Refine your offer to stand out from the crowd.
3. Follow up leads methodically. Get a system set up to ensure you do so consistently.