HOW TO LEVERAGE DATA TO KEEP LEADS IN YOUR FUNNEL

It’s a challenge that many brands struggle with every day. You finally attract a consumer to submit a web form and they are deposited into your lead funnel. Yahoo! However, you now have the challenge of keeping them in that funnel and nurturing them through it until you ultimately convert them into a customer.

However, a consumer’s shopping journey doesn’t always end with the submission of a lead form. In fact, many high-intent consumers continue to research their options even when already engaged with a brand as they progress along their decision-making process.

Once a consumer has submitted a lead form and is in your lead funnel, do you continue to monitor that consumer’s shopping activities? Just because they are in your funnel, it doesn’t mean their journey ended at the point of lead submission.

HOW BEHAVIORAL DATA HELPSIf you are engaged in lifecycle marketing, you are using behavioral data to inform you how active your consumers are in their buying journeys so you can market to them appropriately.

What you may not be doing is leveraging behavioral data to identify which of the leads in your conversion funnel are still investigating and evaluating and displaying continued shopping behavior. When you have that information, you can deploy strategic actions to ensure they don’t drop off into a competitor’s funnel.

When you have consumer journey insights not only at the time of lead submission, but also for the months following lead submission, you can use these insights to ensure you are putting the most relevant message in front of each consumer at the appropriate time in their journeys.

• The inactive leads are entered into nurture campaigns, with the same messages and offers being sent to the entire segment of inactive leads. After all, when they are contacts that haven’t engaged with your reps, how else can you determine ways to customize your messages to them?

• Many companies will have their sales development reps cold call these leads when they have no active leads to work on.

• Sometimes, the marketing team will put together a special, clever campaign to try to revitalize the leads.

When analyzing all mortgage leads, Jornaya data exposed that 31 percent of borrowers continue shopping—visiting at least one more site—within 90 days of submitting a lead form. Although 31 percent demonstrated that continued shopping behavior 90 days out, only 18 percent exhibited the behavior in the first week after the lead was submitted, which indicates that it’s important for companies to continue monitoring their leads’ shopping journeys until they convert.

There are three shopping activities that you should watch for when monitoring the behavior of consumers in your funnel…

1. IDENTIFY CONSUMERS THAT ARE STILL ACTIVELY SHOPPINGActive shoppers are active buyers. In fact, Jornaya data shows that consumers that are seen visiting industry sites in the week after submitting a lead have been shown to have an 80% higher conversion rates.

Remember, What if you were able to get even more conversions out of this high-intent group by prioritizing these leads with your best salespeople and getting the right message in front of these consumers at the optimal time?

By leveraging data sources on a regular basis to get updated views of consumers in your funnel, after the initial query, you can adjust your contact strategy and lead prioritization. This way, you can ensure your brand is in front of these high-intent consumers at the right time to increase conversions.

1. IDENTIFY CONSUMERS THAT ARE STILL ACTIVELY SHOPPING. (CON’T.)

Jornaya data reveals that consumers who are observed visiting a brand’s web properties in the week after submitting a lead to that brand convert up to 300 percent higher than average. When working leads through your conversion funnel, do you know which consumers are demonstrating an affinity for your brand?

2. IDENTIFY CONSUMERS THAT ARE ACTIVELY RESEARCHING YOUR BRAND’S OFFERINGS.

IDENTIFY CONSUMERS THAT ARE ACTIVELY RESEARCHING YOUR BRAND’S OFFERINGS. (CON’T.)

There are vendors that can provide you with an updated view of consumer behavior at points in time after the initial query, including whether that consumer has been seen interacting with your brand’s web pages. You can then leverage these insights to adjust your contact strategy and lead prioritization so that conversions are maximized.

On the flip side of number two, consumers that are in discussions with your brand but are seen continuing to research competitive options are high-intent consumers that may be at risk of converting with a competitor.

3. IDENTIFY ANY CONSUMERS IN YOUR FUNNEL WHO MAY STILL BE ACTIVELY RESEARCHING COMPETITIVE OFFERINGS AND ARE AT RISK OF CONVERTING ELSEWHERE.

With access to behavioral data, you can identify this activity and target those leads for special attention from your sales team or discount offers. By leveraging behavioral data, you can continue to regularly monitor your consumer’s behavior at points in time after the initial query, and adjust your messaging strategy and competitive positioning when you see consumers engaging with competitors to increase conversions.

3. IDENTIFY ANY CONSUMERS IN YOUR FUNNEL WHO MAY STILL BE ACTIVELY RESEARCHING COMPETITIVE OFFERINGS AND ARE AT RISK OF CONVERTING ELSEWHERE. (CON’T)

A big challenge that most organizations face is prospective customers that accumulate in the section of your CRM where leads go to die: the Inactive Leads section. This is usually an overwhelming number of leads to manage when you have no indication of where they are or are not in their shopping journey. If you are like most companies, you are wasting a lot of time and resources on consumers who may never convert into customers for your brand.

ANOTHER USE FOR BEHAVIORAL DATA: INACTIVE LEADS

But, how do you know which leads to try to re-engage, when? How can you determine if they are all even worth your resuscitation efforts?

With technologies available that can provide you with an updated view of consumer behavior at points in time after initial lead submission, even if a consumer pauses their shopping journey, you can identify when she becomes reengaged.

When you have access to these insights, you can use them to time your outreach to consumers who haven’t responded before, increasing the likelihood that those consumers will now engage with you. When you reach out to a consumer at a time you know they are actively shopping, your chances of engagement are vastly increased.

When you have access to these insights, you can use them to time your outreach to consumers who haven’t responded before, increasing the likelihood that those consumers will now engage with you. When you reach out to a consumer at a time you know they are actively shopping, your chances of engagement are vastly increased.

Jornaya is the consumer journey insight platform that provides marketers, data analysts, and compliance professionals with the highest-resolution view

of the consumer buying journey. It is the only technology platform that witnesses both first- and third-party consumer interactions in real time and

across devices. Meeting consumers at these moments of intent enables businesses to shorten the distance between data, decision, and action.

Jornaya seamlessly integrates with any buyer journey decisioning process or toolkit.

Get started at www.jornaya.com | 267.460.7287

(c) 2016 Jornaya, Jornaya.com & Lead Intelligence, Inc. d/b/a Jornaya. All rights reserved.