Are You Ignoring Your Highest Converting Lead Source?
3 min read
Before I share my thoughts with you today, I need you to answer the following questions honestly:
It’s fascinating that the answers to the above questions are the same for many organizations.
According to a recent survey of B2B marketers:“The #1 challenge for B2B companies is generating high-quality leads.” (Source)
To know how call tracking can be used to generate qualified leads is an effective way to improve the marketing and sales process. The flip side of this equation is important too. You may need to eliminate bad leads or even fire your worst clients.
And still, people often prioritize optimizing other resources but ignore their highest converting lead source which by the way, for most businesses is phone calls. There are other B2B lead sources like social media, email and direct marketing, PPC ads, webinars, customer referrals, cold calls, and many more. But the conversion rates for these sources are not as high as the conversion rate of inbound phone calls.
Let’s have a look at the stats-
According to SmartBug, the overall average percentage of organic traffic that should be converting into leads is 16% (Source)
The click-through rate for most industries ranges between 1% to 5%. (Source)
This percentage is the people just clicking a link in your email to visit your website. Whether they buy from you or not is a completely different question.
The global average referral rate is about 2.3%. This is true for businesses using referral program services. (Source)
According to the Keller Research Centre at Baylor University, a mere 1% of cold calls eventually become opportunities. (Source)
Most organizations are ignorant of the fact that one-third of the total inbound calls their business receives, around 32% of callers convert into customers.
This percentage might vary according to the industry, but undoubtedly, inbound phone calls are the highest converting lead source. Here are some amazing statistics to prove that phone calls still matter.
The internet world is overwhelming.
In 2019, it is estimated that there will be around 2.77 billion social network users around the globe. (Source)
The Internet, specifically your website and social media platforms are few of the best places to nurture your leads in real-time. And thus, it is natural that you’re tempted to invest more time, money, and efforts. Who doesn’t like to see their efforts appreciated in the form of likes, comments, and shares? But does that make you enough money? Is that building a healthy relationship with your customers?
A phone call indicates that someone is interested in your businesses. The person takes the initiative to call which demonstrated that want to connect with you. Phone numbers affect your company’s trustworthiness. Here is what our industry research found:
61% of customers think it’s important that businesses give them a phone number to call.
33% of customers would be less likely to use and refer brands that don’t provide a phone number.
If a lead calls you, trust us, he is ready to buy. They need a bit of nurturing and probably a slight push to spend. The last thing you want to do is let that lead go because you can’t analyze phone calls. Without marketing attribution and data analysis, you don’t know what worked or didn’t work on the call.
And how do you analyze a call? By putting us to work!
Convirza Call Reporting™ Suite tells you about both the call trends over time and individual call details. Unlocking phone call data to get access to your most important metrics and KPIs to make great decisions is easy with Convirza.
Convirza has had customers who were bidding on hundreds of different keywords. They never realized that only ten keywords actually drove calls that converted to customers. This information changed the way they leveraged their investment. Nobody wants to run out of operating money. Therefore, optimizing for the bids that convert becomes fundamental to profitably running a campaign.
On this note, I have to quote Peter Drucker,
“You can’t manage what you can’t measure.”
So are you measuring your calls? Are you tracking calls with Convirza?
Published on: Apr 2, 2018