New research highlights the Lead Conversion Gap, and what it takes to improve conversion rates in today’s modern communications landscape
Ascend2, a leading market research firm, in partnership with Verse, unveiled a new survey of more than 250 marketing and sales professionals, The State of Lead Conversion in Marketing and Sales. The report brings new insights to the challenges and opportunities that organizations face in today’s modern communications landscape, as well as the technologies that they currently use in order to optimize their sales operations.
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“Today’s digital marketers continue to innovate in lead generation, with many adopting marketing automation software, conversational marketing apps, and other methods to improve targeting, engagement and click through rates, said Todd Lebo, CEO and Executive Partner at Ascend2. “Yet, only 12% are currently very satisfied with their lead conversion abilities.”
According to the new survey, companies continue to struggle with establishing contact, qualifying and effectively following up with the leads they spend so much time and money to generate. Lead conversion is challenging, but the inability to improve lead conversion rates has a number of significant, negative downstream impacts: wasted marketing budget, wasted sales team time, and significant lost revenue opportunity.
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“Verse calls this the Lead Conversion Gap, and we believe closing it is the next frontier for marketing and sales,” said David Tal, Verse co-founder and co-CEO. “By outsourcing their lead management operations to Verse, companies can be assured that 100% of their leads are being engaged, nurtured and converted according to cutting edge best practices and their own customer experience and brand standards.”
The State of Lead Conversion Study also found that many organizations are not communicating with prospects in the way they would like. While 89% of consumers prefer to communicate with businesses by text/SMS, only 6% of survey respondents said that text is one of their most used channels for follow-up with leads. And the most common follow-up sequence is phone call, email, phone call.
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