How to reduce LeadGen cost with Conversational Sales

For many marketers, securing new, relevant, high quality leads online is a challenge. In-store conversion, which typically sits at 15-30% is going great but other channels are experiencing comparatively low lead conversion rates:

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But as technology has evolved, marketers now have access to enhanced live-chat and real-time video – also called Conversational Sales – which not only enable Telecom organizations to convert customers more effectively (at 15%-30%; the same as in-store), but make it easy to solve issues and customer challenges that traditionally have only been addressed via in-store visits. And, unlike those in-store visits that do not result in a sale, with a conversational sales solution, marketers are also able to secure the lead for additional nurture. Considering this, it’s hardly surprising that conversational sales solutions typically create twice the opportunity for cross-selling, result in double the usual order value, and see 90% customer satisfaction.

Conversational sales helps to reduce LeadGen costs in a number of ways:

1. Solutions enable personalized interaction, shortening the buying cycle

Personalization, of course, plays a substantial part in successful conversion. Regardless of the channel (online or instore) customers want to know that their challenges and sales objections can be addressed by the brand/ solution before they convert. Often, for complex solutions, this can lead to a longer buying process (and more costly conversion) as customers need more time (perhaps multiple store visits, site visits, time engaging with your sales representatives and content) before they’re ready to convert.

However, as they offer a remotely accessible, personalized and interactive solution, conversational sales can help prospective buyers through their purchase journey more effectively; resulting in reduced lead gen costs.

2. Solutions deliver customer-specific conversation – at scale

In in-store interactions, one-to-one personalization is easy to achieve; the sales representative can address a customer’s needs directly to help them find the right solution. But with a conversational sales, not only is this equally possible online, but Telecoms can achieve personalized engagement at scale – and as a result, better resonate with and convert buyers; reducing lead gen cost. Through real-time chat features and real-time video, conversational sales help brands engage with an unlimited number of web visitors at the same time. With only one presenter talking – and responding to questions – brands can serve hundreds of clients and even add unlimited numbers of concurrent channels with more presenters, to make sure conversations stay personal and in real-time.

3. Solutions enable more effective lead engagement

As we’ve discussed, conversational sales enable in-depth, interactive engagement, both personalized and at scale. They allow brands to better engage on a one-to-one and one-to-many basis – showing prospective customers exactly how a product fits their needs and answering their sales pushbacks to bring them closer to a purchase decision. This better customer experience leads to more seamless, relevant lead conversion. Equally, as chat viewers must enter their name/phone number before they can engage with the presenter, conversational sales is not only a great nurture tool – they also help capture the leads in the first place.

A Customer-Centric Solution, For Greater Quality Leads

Conversational sales offer substantial value to the business in terms of reducing CPA and lead gen costs. By providing a customer-centric online experience, it’s easier to not only attract quality leads, but engage and nurture them in a meaningful way; resulting in more effective lead generation; and higher quality customer relationships.

To read more on how to make the switch to conversational sales and download our eBook