Earlier this year, Propero launched the UK industry report: The State of Digital Marketing in Professional Services. In this report, 370 senior decision-makers were surveyed from professional services industries to gain a greater understanding for how they generate new business and approach their referrals.
As indicated by the graphs below, while many firms are converting the new business enquiries and referrals they receive, there are still a high number of firms that don’t measure the conversions they make, or they don’t make any at all.
In order to improve conversion rates, firms need to determine where leads come from, what brought them to the point of converting, and how better to understand the needs of their prospective clients.
Firms can use this information to inform their sales funnel, e.g., what’s helped enquiries convert into clients in the past, and how they can replicate it to convert future enquiries. They can also use it to understand their sales cycle, e.g., how long it takes to convert an enquiry into a client, and the amount of lead nurturing that’s needed to get the enquiry from introduction to conversion.
The correct infrastructure will support the conversion of new business opportunities. An employee who is dedicated to business development can create a conversion strategy to better understand the channels that are working for a firm and how to capitalise on them. They can also convert the enquiries who have previously engaged with the firm and are interested in their services.
Understanding the importance of WHERE your leads come from, and how to best move them from the enquiry stage to conversion stage, is key to putting together a marketing strategy that works. If this is something that you’re interested in, but fear you’re not equipped to implement a strategy that works, get in touch. Our team of marketing specialists will help you to create strong marketing plan to start converting prospects into paying clients.