One of the many challenges our clients face when they start working with us is low conversion rates, regardless of whether they are B2B or B2C. After all, there is no point investing heavily in lead generation when you don’t have the processes in place to qualify them – or the right incentives in place to convert them.

Many marketers are under pressure from management and sales teams to bring in more leads, but too often this goes hand-in-hand with higher costs. Imagine instead that you could increase your revenue and profit margins without having to shell out more advertising investment to attract more leads.

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SOUNDS GREAT. NOW WHAT?

Almost 2/3rd of marketing executives admit that generating high-quality leads is a challenge, but it doesn’t have to be. Much depends on how you acquire information about your prospects and how you use it. Let’s take forms as an example. There is a big difference between an arduous process that takes 20 minutes to complete and a meaningful continuation of the user experience that adds value. Just as important as timing, length, and user experience, the right approach can improve engagement and interest for a significant increase in conversion rates.

Of course, it doesn’t stop there. Information from your forms (as well as other sources such as LiveChat plug-ins, social media, etc.) should directly feed into your CRM system. Progressive profiling in this way can help you nurture leads until they are sales-ready: only then should they be converted and passed to the sales team. Using your CRM system’s capabilities to process leads in this way offers several benefits worth considering:
  • It allows your teams to have a focused understanding of what is in the sales pipeline, and allows them to direct their energy to those leads requiring prioritization;
  • It allows team supervisors and managers to have overall visibility on sales activity and ripening opportunities;
  • It allows marketing teams to classify prospective customers into meaningful segments that can be used to track, report, and deliver targeted communications.
What’s more, a smart approach to setting up your CRM systems can help redirect your teams’ energy to those leads that are ripe for nurturing and conversion. This can be achieved, for example, through automated lead scoring that takes the guesswork out of prioritizing leads; or by customizing dashboards that take the headache out of measuring and tracking conversion rates. Tailoring your CRM system helps ensure that your IT set-up works for your business processes (and not the other way around!).
 
At IMS, we work with you to ensure that you’re maximizing commercial benefits with a customized CRM system that leads to increased sales. To find out more, get in touch with one of our digital consultants.

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About the Author

After completing his training in M&A at Skadden Arps, Anastasios Papadopoulos founded Integrated Management Systems in 2016 and played a key strategic role in positioning the company as one of the leading Digital Transformation Agencies in Hong Kong.

He brings with him his experience in M&A and Tech, and also founded IMS Digital Ventures: the innovation, incubation, and investment arm of IMS and Hong Kong’s first corporate venturing firm that launches and invests in disruptive businesses with Asia’s largest corporations.

Anastasios Papadopoulos read Law in France and in the UK and holds a Management degree from HEC Paris.

Connect with Anastasios Papadopoulos on LinkedIn.

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