“Conversion Challenges In Tech & Software Industry.”
As prosperous as the tech and software industry is, one of the major downsides to working in this industry is the sheer volume of competition from rival companies such as Survey Monkey, Shopify, Slack, Snowflake, Google, Microsoft, Salesforce, Xero, etc.
Unless you happen to be one of the huge names in the world of tech, getting your customer’s attention and convincing them to shop with you over your competitors is much easier said than done. This is where it can pay dividends to emphasize lead conversion.
In a business sense, lead conversion is defined as the process of turning a lead into a paying customer. Basically, it means that you’re convincing people to shop with you and become your paying customers.
As marketing trends are constantly evolving in the tech industry, taking potential leads and converting them is not an easy task, but it can be achieved with the right marketing and further onboarding and sales strategy.
Here’s a look at several effective ways to convert your leads in the world of tech and software.
Devise FAQ Listing – Specific Pain Points?
One of the most effective strategies for any tech company looking to convert more leads is to create an FAQ page listing common pain points that businesses may face on a daily basic.
List common FAQs relating to your business and the software/products/services you provide, talking about the problems that they solve. Ask the questions and then provide the answer in the clearest, most concise way possible to show how your products can help.
By listing common pain points that businesses face, you’re able to emphasize with the consumer, relate to them, and reassure them. You’re able to show them not only what your products/software does, but also, show how it can help them.
Utilise Video Marketing
With sites such as TikTok and YouTube proving so popular at the moment, and with social media pages such as Instagram placing more of an emphasis on video, video marketing is a very sound strategy for a business looking for more lead conversions.
Market research suggests that as many as 70% of business-to-business (B2B) buyers watch some form of video during the buying journey. Whether this is an advert for the products being advertised, a tutorial, a welcome message, or anything else, it shows the power of video.
Now, how you utilize video marketing will depend on your target demographic, and your business on the whole. You may wish to utilize lengthy sales pitches and tutorials marketing your products/services, or you may wish to keep things brief with condensed 1-3 minute videos like those found on TikTok, Instagram Reels, or with YouTube Shorts.
Whichever route you decide to travel down, be sure to address your target demographic, your products/services, customer pain points and how you can alleviate them, contact info, and any other important info you wish to get across.
Make Use of Surveys
One of the best ways of converting leads in any industry, is to get inside the head of your target demographic and to try to understand what it is that they want. Using surveys is a great way of achieving this.
Surveys help you to understand what tech and software buyers want to purchase, and what they’re looking for. Not only that, but surveys allow your potential buyers to tell you directly, so you know exactly what they’re looking for.
Ask potential buyers about business pain points, what they’re looking for in a software platform, which tech they’re using, and what they’d like that tech to do differently. Once you know what your target demographic is using, and what they would like it to do, you can then begin to offer solutions to their problems.
Whether it’s via email marketing, or if you place the survey link on your website and other social media channels, they’ll quickly prove to be one of the most effective lead generation tools you could wish for.
Offer Free Trials/Demos
Another very effective strategy in the tech industry when it comes to lead conversions is to offer free trials and/or demos.
By offering demos/free trials of the products you provide, users have the ability to sign up for a limited period of time and try before they buy. This is a very useful strategy as it helps build buyer confidence, and allows tech and software companies to learn more about their target demographic.
Not only will this assist with email marketing etc, but you can also use any feedback to tweak your products/services which will ideally help to lead to an increase in lead conversions.
Purchase Lead Closing Services
If you’re serious about converting leads into buyers, one of the most effective strategies you can implement is to purchase lead closing services.
These services are provided by professional companies that specialize in lead conversions. These companies will conduct market research, they have a wider reach, and they can implement a wide range of strategies to help drive more potential customers to your business and turn leads into buyers.
Cater to Your Target Audience
If you’re looking to convert more leads, be sure to cater to your target audience whenever possible.
Define a customer profile from a B2B standpoint, as well as a buyer persona when it comes to Business-to-Consumer (B2C). By catering to them directly, you can offer them goods, products, and services that they are far more likely to purchase.
Remember to stay ahead of trends and to constantly adapt as, in the ever-evolving world of tech and software, this is absolutely essential.
Utilise Social Media
Social media is now an enormous part of modern living, and in the business world it’s one of the most effective marketing and advertising strategies.
If you don’t have social media pages for your business, you need to rectify this as soon as possible.
Social media not only serves as a “free” form of marketing and advertising, but it also offers potential buyers another way of contacting you, viewing your products, and viewing your content as well.
While sites such as Facebook, Instagram, YouTube, Twitter, and even TikTok are all beneficial from a business standpoint, business-orientated LinkedIn is one which tech companies should ideally prioritize. Market research has found that LinkedIn is the most effective social media site when it comes to B2B lead generation, yielding close to 80% of all B2B leads.
While it is beneficial to have multiple social media pages, if you had to pick one for B2B lead generation and building relations in the tech and software industry, LinkedIn is the one to focus on. The main reason for this is that from a tech and software perspective, buyers looking for new tech are less likely to scroll through Facebook or Instagram than they are LinkedIn.
Collaborate
While Vanilla Ice’s ‘Ice Ice Baby’ from the early 90s may be considered cheesy and cringey today, he was onto something when he told his listeners to ‘collaborate and listen’.
For any business looking to convert more leads, collaborations are incredibly useful.
To help convert more leads, try to find influencers in your chosen industry and collaborate with them. From a tech and software perspective, unboxing videos on YouTube always draw big numbers, as do simple tech reviews. Here, you can have influencers showcase your products and turn viewers into buyers.
Contact influencers with a large online following and presence and enquire about collaborating with them. Perhaps offer to send them a product and ask them to unbox the product online and review it for their followers.
If you believe in your product and you want more eyes on it, perhaps before a big launch day, collaborating with influencers online is a great way to generate hype and make more people aware of your company and the products/services that you provide.
Put Yourself in Their Shoes!
After all, we’ve all been in the similar situations and have been sold in one or another way. Let’s take a step back and look at a helicopter view, and put yourself in the client’s shoes, and think if you face the similar approach, would you willing to come on board!
We use our 9-Steps Market Disruptive Innovation System – where the businesses go through transformation, and experience growth and gradually they are scaling in a consistence and systematic way. If you like to know more,
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