Personalized Martech: How to Increase Your Lead Conversion Rate
The introduction of marketing technologies has fundamentally changed the way businesses operate. Everything from your customer support to increasing your lead conversion rate can now be done automatically with the many tech stacks that are available.
With over 8,000 martech solutions, many customer-forward businesses face the challenge of deciding which one to implement to help boost lead conversion rates. Martech is expensive and you have to make sure the tech stack you choose solves your company’s problems and optimizes your ROI. Many also do not realize that there are some tech solutions that can address several of your business needs at once.
One of the biggest marketing trends we have seen in recent years is a shift toward delivering a personalized customer experience. Personalization is not always available in martech platforms, but, if available, it is a huge boost in engaging effectively with your potential customers.
Work Smarter, Not Harder… You Need Automation!
Automation when used correctly can be a super powerful tool for your business. The main positive outcomes of integrating and using automation are:
- cost reduction
Automation can help your teams focus on creating more sales, but many businesses still face a massive challenge that touches all four of these points: achieving a good lead conversion rate. In fact, only 25% of marketing and sales professionals have automation software specifically for lead conversion (Ascend2).
As the age old adage goes…Time is money. So, using a lead conversion tool not only takes all the grunt work out of verifying leads and nurturing them, it also creates a greater likelihood of sales-ready appointments and those opportunities being successful.
Personalization Is Key
In general, 80% of consumers are more likely to buy from a company that provides a tailored experience (Epsilon). More and more consumers are getting tired of impersonal interactions and want to feel like they are getting taken care of.
Automation platforms without personalization capabilities communicate with customers in a way that doesn’t always fit their needs and often makes them feel unwanted. Customer expectations have changed, and it is up to businesses to be able to adapt and change along with those expectations. Everyone likes to feel like they are valued and unique in their needs. In fact, 70% of consumers say that how well a company understands their individual needs influences their loyalty, and customer loyalty is the key factor and end goal of lead conversion.
The process of lead qualification and nurturing, when executed strategically, can result in marketing turning over more qualified leads to sales, and sales converting more of those leads
into customers. But one of the biggest challenges that businesses face is in mitigating the gap in lead conversion where customers are not happy and walk away to another vendor for one reason or another. Personalization can be a huge asset in mitigating the gap and not sending your prospective customers to the competition!
Personalization to the user is also a huge plus. Companies evolve and ideas shift. So, having the ability to change the personalized messaging to correlate with the shift of narrative is key to crafting the correct message. It would be detrimental to a business if their automation was still programmed for the company’s communication style of the past and not the new communication style that it wants to adopt today and use in the future.
Increase your Lead Conversion Rate with Personalized Martech
It’s not too good to be true, personalized automation does exist!
Many companies are using personalization when analyzing their customer data in order to create the ideal customer profile. More and more businesses craft their messaging based on that unique profile of the customer whom they are trying to reach and engage with. But when it comes to lead conversion, many platforms still struggle with personalization after the initial contact and in the nurture stage.
Verse’s platform– with our customized, bespoke messaging and Smart Cadence– is able to tell when a customer wants to be messaged as well as their preferred method of communication. Automation with personalization is essential because it works much better, as it makes sure that every customer is taken care of in the correct way and, as a result, boosts those lead conversion rates!