How to Turn Your Leads into Demos

In B2B marketing, generating leads is only half the battle. The real challenge lies in converting these leads into meaningful demos or meetings that can drive your business forward. Understanding the nuances of this conversion process is crucial. 

This article delves into the common pitfalls and effective strategies to turn your leads into demos, backed by insightful statistics and expert advice.

Types of Leads

Understanding the different types of leads is the first step in optimising your conversion strategy. Leads can be broadly categorised into:

1. Prospects: These are members of your total addressable market, categorised by persona and industry.
2. Marketing Qualified Leads (MQLs): These leads have shown interest in your company and product by opting into marketing communications, such as downloading a document or attending a webinar.
3. Sales Qualified Leads (SQLs): These are leads that have expressed a desire or need to work with your company further after an initial conversation.

Three Common Scenarios Why People Can’t Get Meetings from Leads

1. Lack of Qualification

One of the most common reasons businesses struggle to convert leads into demos is a lack of qualification. Many companies rely on lead generation agencies that cast too wide a net, resulting in a large number of unqualified leads. These leads often don't know who you are or why you're contacting them, making it difficult to convert them into meaningful conversations.

2. Too Few Sales Touchpoints

Did you know it takes 6 to 8 follow-up calls to reach a prospect? Many businesses fail to understand the importance of multiple touchpoints. According to HubSpot's 2020 State of Inbound report, the average conversion rate for turning leads into sales meetings is around 23%. However, this number can vary greatly depending on the industry and the specific sales process. For example, in the software industry, the conversion rate for turning leads into demos can be as high as 50% or more. It's important to note that lead quality and follow-up efforts also play a significant role in conversion rates.

3. Lead Volume

A low volume of leads can also hinder your ability to convert them into demos. If your conversion rate sits at 10%, you need a substantial number of leads to generate meaningful conversations. For instance, if you need ten leads to generate one meeting, not having enough leads can severely impact your sales pipeline.

Strategies to Turn Leads into Demos

1. Improve Lead Qualification

To improve lead qualification, consider the following steps:

• Refine Your Criteria: Work closely with your lead generation agency to ensure they understand your target market and criteria.
• Use Technology: Implement tools that can help you better qualify leads based on their behaviour and engagement with your content.

2. Increase Sales Touchpoints

Increasing the number of touchpoints can significantly improve your conversion rates. Here are some strategies:

• Follow-Up Calls: Make it a standard practice to follow up with leads multiple times. Remember, it takes 6 to 8 calls to reach a prospect, and 44% of salespeople give up after just one follow-up call.
• Email Campaigns: Use targeted email campaigns to nurture leads through the sales funnel. Sending multiple emails increases your chances of a response by 25%.
• Content Marketing: Provide valuable content that addresses the pain points of your leads, keeping them engaged and moving them closer to a demo.

3. Boost Lead Volume

To increase the volume of leads, consider these techniques:

• Webinars: Hosting webinars can drive a bulk amount of leads into your funnel. For example, a well-executed webinar can get 50 to 80 registrations, with 20% to 40% attending, and 10 to 20% becoming SQLs.
• Paid Advertising: Invest in paid advertising to reach a larger audience and drive more leads into your funnel.
• Direct Outreach: Sometimes, a direct ask for a meeting can be effective. Approximately 3 to 5% of your connections may set up a meeting through direct outreach.

Optimising Your Sales Funnel

Mapping out your sales funnel can help you identify where to focus your efforts. For instance, if you have too many leads at the top of the funnel that are not qualified, you need to build a buyer journey that nurtures these leads through the middle and bottom of the funnel.

• Top of Funnel: Focus on awareness and initial engagement. Use content like e-books and guides to attract leads.
• Middle of Funnel: Engage leads with more detailed content, such as case studies and webinars, to move them towards consideration.
• Bottom of Funnel: Use direct outreach and personalised communication to convert leads into demos.

Measuring Success

To ensure your strategies are working, it's essential to measure success. Track metrics such as:

• Conversion Rates: Measure the percentage of leads that turn into demos.
• Lead Volume: Track the number of leads entering your funnel.
• Engagement Rates: Monitor how engaged your leads are with your content and communication.

Turning leads into demos is a multifaceted process that requires a strategic approach. By understanding the types of leads, addressing common pitfalls, and implementing effective strategies, you can significantly improve your conversion rates. 

Remember, the key lies in qualification, multiple touchpoints, and maintaining a healthy lead volume. 

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