Businesses are only able to measure their success or failure by taking into account the sales figures and popularity and acceptability statistics.
For example, lead generation is the baseline necessity to ensure a constant flow of potential customers. The conversion of leads into actual customers and the measurement of it is, therefore, also necessary to understand the success and failure of marketing and sales tactics. But here are some basic facts and statistics related to lead conversion that businesses often ignore.
1. 79% of Marketing Leads Don’t Convert into Actual Sales
Lead generation is not enough if the conversion rate is near to nothing. This above-stated statistic is, therefore, quite alarming and eye opening as to how leads are treated by businesses. Proper steps should be taken to close the sales.
2. Businesses Lose 95% of Their Sales Opportunities by Not Concentrating on Lead Conversion
High-end businesses usually generate all the prospects and leads that they need. However, they fail to concentrate upon converting those prospects into customers thus losing potential sales and clientele opportunity. Once leads and visitors to websites are generated, follow-up is required to convert them to customers.
3. Lead Conversion Rates Have Seriously Dropped Over the Last Few Years
Although lead conversion and its management is optimum for the growth of sales yet a decreasing number of companies have been able to stay in touch with their lead conversion rates and hence their sales’ figures have fallen considerably. Econsultancy has revealed that the percentage of companies who showed improvement in their lead conversion in 2011 was 65, which was 70% in 2009 and 2010.
4. Effective Strategies can Boost Conversion Rates up to 300%
Steelhouse has reported that when you approach the market with the correct targeting strategies, your lead conversion rates can increase up to 300%. Therefore devise your strategies and testing methods carefully before approaching the market.
5. Only 22% Businesses Are Satisfied With The Conversion Rates Of Their Companies
Without effective strategies prospects and growing leads are seldom converted to customers and Econsultancy has provided the statistics which reveal that only 22% businesses are actually satisfied with the conversion rates.
6. Poor Website Response can Decrease Conversion Rates by 7%
You should make sure that your website and landing page are in working order because KISSmetrics has shown that even a delay of a second in the page response can bring down the lead conversion rate.