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Close Rate From Web Leads

 
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Old 06-06-2012, 06:05 AM   #1
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Close Rate From Web Leads


I have been doing some tracking and trying to idenify trends.

Web traffic generates a LOT of calls ( Thank you Lord ! ) but what we actually close is about 15-20% of these calls.

How is everybody ranking among web leads ?
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Old 06-06-2012, 07:10 AM   #2
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Re: Close Rate From Web Leads


I close well over 90% on anything that comes from online. Google local is where I generate most of my leads online.

It's interesting from my perspective because most of the people who I talk with say I'm one of the only companies that call back within the hour. I end up talking for a while on the phone and make people feel good and considering my industry doesn't do that I feel that's a big reason for my close rate.

Another key factor is reputation. My name has gotten around enough where people have heard good things about me and that's important for obvious reasons.

For you it's probably very different. It's obvious to anyone on the forum you are passionate and work hard in the marketing department. That said, maybe your number is actually pretty decent.

Have you done studies on the competition? I would imagine you are in a very competitive industry and price is more important than other trades like remodeling. Just a guess.

Also. As a fun experiment have you tried to find similarities within the group of people you close? I've done this a few times and discovered key trigger points that get people to close. I started taking these attributes and focusing on them. This helped my closing rates increase tremendously. I'll give you an example....

Early on I discovered that my highest closing rates were with customers who recently had a plumber at the house and they didn't like the experience. I began to ask why and took notes. After a while I came up with some commonalities within this group of why they were upset.

Now, when people call, I've turned these commonalities into a sales pitch and my closing rates increased. In short, I use my competitors failings as entrepreneurial judo and eliminate the fear. It's really given me an edge in my high closing rate.

Why is it people don't close in your industry? You must have some good opinions about this right?

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Old 06-06-2012, 10:59 AM   #3
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Re: Close Rate From Web Leads


I dont track is really, but out of 10 calls I only end up looking at maybe 4 or 5 of them. Then I close about 2 or more.

So thats about 20% of alll the messages on my machine, but a 50% closing rate. My closing rate might actually be higher, I dunno.

I seem to get a about 10 a month, my home inspector found, or we are looking at buying a house. I delete most of these immediately unless they are within the surrounding towns.
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Old 06-06-2012, 06:15 PM   #4
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Re: Close Rate From Web Leads


your answer may lie right here..
http://www.manta.com/sales/boost_email_0711

or here

http://www.manta.com/sales/email_tips_0411


these have been huge for me..
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Old 06-07-2012, 08:38 PM   #5
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Re: Close Rate From Web Leads


I found after call tracking the calls, I was able to listen to my office ladies take calls. Once I heard every call they took, I was able to coach them which meant we closed more calls.
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Old 06-08-2012, 12:28 AM   #6
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Re: Close Rate From Web Leads


Your onto something here. Usually web leads are the worst leads out there. But in the business of lead generation they are the cheapest...I think you would save a lot of time by doing some light qualifying on the phone..Are you doing any of that?
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Old 06-10-2012, 10:13 AM   #7
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Re: Close Rate From Web Leads


We do quite a bit of tracking on our own website. We currently get around 6,000-7,000 hits per month on our site. So we take tracking very seriously. First let me say that it has been our experience that clients calling in from the website tend to convert at a much higher rate than those filling out forms. Having said that web leads can be quite profitable. I think the more important questions is what keywords the clients are coming to your site from. As an example, we have seen that certain keywords drive alot of traffic, however the conversions are low, and others tend to drive less traffic but tend to convert much better. So I think you should consider taking a more focused view on the keyword driving traffic and calls/leads. This will have the effect of driving more targeted people to your site, and reduce your overall costs, by concentrating your efforts on those prospects that convert best.
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Old 06-11-2012, 03:59 PM   #8
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Re: Close Rate From Web Leads


Quote:
Originally Posted by CopperSmith View Post
save a lot of time by doing some light qualifying on the phone
definitely this
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Old 06-11-2012, 04:24 PM   #9
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Re: Close Rate From Web Leads


Someone mentioned call tracking, and I think that's a great idea. You won't know what's going wrong on the call (if anything) unless you can listen to it after the fact. Then you can do customer service training, if needed.
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Old 06-11-2012, 05:01 PM   #10
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Re: Close Rate From Web Leads


Web leads for me, in my area are terrible. I have such a pathetic closing ratio with them I am embarrassed to post it. Its just bad.
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Old 06-11-2012, 05:37 PM   #11
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Re: Close Rate From Web Leads


Quote:
Originally Posted by bretth0214
Web leads for me, in my area are terrible. I have such a pathetic closing ratio with them I am embarrassed to post it. Its just bad.
Well, you are honest. That's the first step to winning. You need to figure out why?

It's not as hard as it may seem. In fact, you should do what manufacturing companies do on a daily basis ~ Continuous Improvement.

How much time do you spend focusing your efforts on improving "closing"? You see, like a factory you need to overcome this problem by fixating on solutions. Factories that manufacture a product measure and report what they do constantly, many do this in terms of seconds. That's why factories are always lowering prices; continuous improvement allows them the education to "do better". They use this as a competitive advantage. Of course, that's why it's hard to start manufacturing because time has taught them how to be efficient and the "new" guy has to start fresh.

In reality you are no different, it's just that your closing is the opposite, it's inefficient.

What does this mean for you? Well, take the lessons from a factory and start zeroing in on closing. Focus on it......

Start documenting what you currently do and start tweaking it slowly documenting success from failure. This is what a factory does. Many people don't focus on one thing and that's not good, they just ramble through the day putting out fires never really improving the business.

Start breaking down the sales call in pieces, or small chunks. Determine best practices through trial and error. Write it down, study it, learn from it....... total focus. By July 1st you will see a dramatic increase in closing. This I can promise.
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Old 06-11-2012, 07:43 PM   #12
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Re: Close Rate From Web Leads


I could always get better at closing, but my closing other leads is good. I am currently busy and one more project from being booked for the year. Its just the internet leads that I really have a problem with.

I have tried lots of different approaches on these leads, nothing works and in my opinion the internet leads I am generating are crap. I don't really know why, but I do know it has a lot to do with the quality of leads.
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Old 06-11-2012, 08:51 PM   #13
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Re: Close Rate From Web Leads


Quote:
Originally Posted by cabinetsnj View Post
We do quite a bit of tracking on our own website. We currently get around 6,000-7,000 hits per month on our site. So we take tracking very seriously. First let me say that it has been our experience that clients calling in from the website tend to convert at a much higher rate than those filling out forms. Having said that web leads can be quite profitable. I think the more important questions is what keywords the clients are coming to your site from. As an example, we have seen that certain keywords drive alot of traffic, however the conversions are low, and others tend to drive less traffic but tend to convert much better. So I think you should consider taking a more focused view on the keyword driving traffic and calls/leads. This will have the effect of driving more targeted people to your site, and reduce your overall costs, by concentrating your efforts on those prospects that convert best.
6-7k a month?!? how long have you been promoting the site and what measures ?
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Old 06-12-2012, 10:07 AM   #14
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Re: Close Rate From Web Leads


Actually our site, NJCabinetOutlet.com which was revamped in April, is seeing that type of volume, and our concentration is in mainly 100 mile radius or so. We do alot of internet related marketing, Local SEO, Adwords, Bing, Yahoo, Retargeting, Online display and also other forms of print media to generate website traffic. It is all about mulitple layers of marketing.
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Old 06-12-2012, 09:34 PM   #15
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Re: Close Rate From Web Leads


Quote:
Originally Posted by MagicPoolSvcs View Post
I have been doing some tracking and trying to idenify trends.

Web traffic generates a LOT of calls ( Thank you Lord ! ) but what we actually close is about 15-20% of these calls.

How is everybody ranking among web leads ?
Overall the efficiency of web leads has gone down compared to a year ago. I think part of the reason is related to changes I made to my website. I also think the quality of web leads has gone down.

I have paused Google Adwords because the cost per lead has tripled.

I have found there is a huge difference is close rates depending on the size of the job and the urgency. Close rates to fix a roof leak are at around 78% of appointments booked.

Close rates for $8000 replacement jobs from Internet leads has slid from 20% down to 10%. My close rate for other lead sources is around 40-44%.

If you are using Google Analytics you could compare the first quarter of this year to the first quarter of last year and see if you spot any trends. If you have been making changes to your website that might have something to do with it.
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Old 06-12-2012, 09:44 PM   #16
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Re: Close Rate From Web Leads


Quote:
Originally Posted by cabinetsnj
Actually our site, NJCabinetOutlet.com which was revamped in April, is seeing that type of volume, and our concentration is in mainly 100 mile radius or so. We do alot of internet related marketing, Local SEO, Adwords, Bing, Yahoo, Retargeting, Online display and also other forms of print media to generate website traffic. It is all about mulitple layers of marketing.
Are you sure your not just selling jk cabinets. Looks alot like them.
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Old 06-13-2012, 05:49 AM   #17
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Re: Close Rate From Web Leads


You guys got me thinking. I think in fact, a lot of the calls that come in are not in our service area, so you need to discount that. I will look to see the "actual opportunities" vs "actual sales", that would be a more accurate closing number.
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Old 06-13-2012, 09:12 AM   #18
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Re: Close Rate From Web Leads


Quote:
Originally Posted by ohiohomedoctor View Post
Are you sure your not just selling jk cabinets. Looks alot like them.
We carry about 9 different kitchen cabinet product lines, with about 28 door styles total. We do carry JK Cabinetry also as you meantioned.
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Old 06-13-2012, 06:13 PM   #19
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Re: Close Rate From Web Leads


Quote:
Originally Posted by Oconomowoc View Post
Well, you are honest. That's the first step to winning. You need to figure out why?

It's not as hard as it may seem. In fact, you should do what manufacturing companies do on a daily basis ~ Continuous Improvement.

How much time do you spend focusing your efforts on improving "closing"? You see, like a factory you need to overcome this problem by fixating on solutions. Factories that manufacture a product measure and report what they do constantly, many do this in terms of seconds. That's why factories are always lowering prices; continuous improvement allows them the education to "do better". They use this as a competitive advantage. Of course, that's why it's hard to start manufacturing because time has taught them how to be efficient and the "new" guy has to start fresh.

In reality you are no different, it's just that your closing is the opposite, it's inefficient.

What does this mean for you? Well, take the lessons from a factory and start zeroing in on closing. Focus on it......

Start documenting what you currently do and start tweaking it slowly documenting success from failure. This is what a factory does. Many people don't focus on one thing and that's not good, they just ramble through the day putting out fires never really improving the business.

Start breaking down the sales call in pieces, or small chunks. Determine best practices through trial and error. Write it down, study it, learn from it....... total focus. By July 1st you will see a dramatic increase in closing. This I can promise.
Excellent comments!

One thing that has helped me a lot is a simple spreadsheet listing all the quotes we do, the $ amount and where the lead came from. I highlight the ones we get. Sometimes when I feel like we are not closing enough the spreadsheet helps me to see that we actually are. This kind of tracking led me to drop my yellow pages advertsing 3 years ago when I realized I was working just to break even.

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Old 06-14-2012, 08:12 AM   #20
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Re: Close Rate From Web Leads


Here is a great stat. ( I know this is a web based sales thread ) but referral business is closing at 98% @@@

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