How to Improve B2B Conversion Rates: A Practical Guide
To deal with another business is pretty much like directly working with a customer, but there are some peculiarities to it. The business you want to sell to might be pickier than the regular consumer. You also might have to face more than one decision maker. And, to top that, other businesses are usually more careful with the money they are willing to spend.
So, it might be harder for you to convert leads into sales. But don’t worry, there are things you can do to increase your chances of improving the conversion rates.
The following guide will help you deal with your B2B sales and the lead conversion.
What You Need to Know About B2B Conversion Rates
In business, sales funnel conversion rates are very important. And if you’re on this page, you want to improve them. But first, let’s take a closer look at the problem.
When trying to improve your B2B conversion rates, there are some questions you might have. And we are ready to answer them. The most frequently asked one is “What is a good sales conversion rate?” To be honest, there’s no universal answer to this question. It will depend on your industry and what exactly we need to measure (for example, the pay per click, website, and so on).
But to give you a general idea, the average sales conversion rate is approximately 7%. This number is general and it varies depending on different industries. For example, a typical conversion rate for publishing services is 10%, while eCommerce and retail get only 3%.
If you want to get that 7% (or even 10%), there are some steps and methods you can use and benefit from.
The Best Methods
B2B lead conversion rates depend on many factors, including not only the industry you’re working in but also the audience you’re trying to reach. So, when dealing with such a task as improving your conversion rates, try to see the whole picture and comprehend all the aspects of your business.
While doing that, you can also pay attention to the following useful tips, which can help you make your company successful:
- Don’t be afraid to retarget. Instead of showing your marketing content to as many people as you can, limit the audience to people who might be the most interested in your offer. Pick the channel (or a few of them), on which your target audience engages the most, and use it to present your offers to the people who actually need them.
- Instead of simply listing the features of the product on your website, talk about the benefits a business can enjoy by using the product.
- Make sure your company is presented as a credible one. Some businesses might not be familiar with your company, so adding customer reviews, awards, or certificates will prove your credibility and will show potential clients that they can trust you.
- Really call people to action. Make certain that each Call to Action button is visible, easy to find, and isn’t tucked away somewhere at the bottom of your landing page. Don’t make potential customers search for it.
- Make your text easy to scan. You know that the majority of website visitors don’t read the whole thing. That’s why it’s helpful to present the most important info at the beginning of the text and to bold the essential parts.
- Use personalized and dynamic content. This type of content is able to change depending on who is viewing it. For example, you can create a very personalized experience for potential customers by presenting content connected with their specific industry.
Finding quality leads is also an effective way to increase your conversion rates. But how do you distinguish the quality leads from the low-quality ones? It’s actually rather simple: when considering a potential prospect, pay attention to a couple of questions. Is this company facing an issue you can help them with? Are they able to spend money on your product? Who is the decision maker in the company? How urgent is the issue the company’s facing? These questions can help you figure out if the lead is good enough and whether it’s worth spending your time on them.
These are just a few tips you can follow on your own. Yet, if you are really serious about your business, the best method to increase the conversion rates is to hire a professional to help you deal with that. You can outsource the tasks connected with your website’s optimization and delegate B2B cold calling to us. We are ready to apply our knowledge and make the best efforts to help your business grow. So, contact us now.
