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Are you generating lots of leads but little revenue?

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You must have noticed sometimes a bell ringing as soon as you enter a shop. That’s an alert for the attendant that a potential customer has arrived. Now it’s his job to convince the customer into buying what he has to offer.

With all probabilities it can be possible that the customer generates a lot of revenue for the owner of the shop or that the customer leaves without buying anything. This scenario can be replicated in almost any business, wherein a lead comes and may or may not generate revenue.

But are you generating a lot of leads but less revenue. Here’s how you can decode:

The right mixture: Marketing efforts must be spread evenly. This means that the investment in various marketing channels must be distributed evenly so that a homogenous mixture of leads is generated. This must then be used to identify which marketing channel is generating more leads and more revenue.

Select your audience carefully: A good understanding of product and its targeting is required to know the audience. Pin pointing the audience may also be bad as that would create a niche segment and hence even though the leads are more likely to convert but the total no. of potential leads would reduce. Hence a broader but closely related group of audience must be targeted.

Ill-equipped Sales Force: Training of the sales force is very important as they act as a point of contact for the leads. If they are not well versed with the product, there are chances that the lead would not convert.

Remarketing: Creating a database of your leads is essential. In case you are an online retailer/reseller, it becomes all the more easier and effective as you can use remarketing tools to promote your product/service to the lead that already visited your website, creating a compelling pitch to re-visit your website and consider buying your product.

Over doing expectations: Your marketing efforts might be too brilliant to go along with the product. Accept the reality and focus on the product. This sometimes is the biggest cause of high number of leads but low revenue and can be hazardous for the brand in long run.

Focusing on the basics sometimes does wonders. Staying true to who you are makes a great difference not just to the business but also the brand in total. In the end revenue keeps trickling in.

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