Lead generation is easier than ever with ads and marketing campaigns. But once you get leads, how many get converted into sales? If you’re spending too much on generating leads with no progress in conversion, it’s time to do something about it.
In this episode of The Mentee, William Brown of TitanX shares how to elevate your sales funnel with AI. We’ll discuss the importance of knowing who to convert and how to apply the 80-20 rule to leads and revenue.
Here are some power takeaways from today’s conversation:
- Know how AI can improve your sales funnel
- Use the 80-20 rule for sales conversions
- Find out where to establish a connection in your website
- Determine who’s worth converting
Episode Highlights:
[11:19] The Power of AI
Currently, AI is widely used to support social media by stealing our attention and selling it to advertisers. It’ll be more beneficial if people have their personalized AI.
[15:10] The 80-20 Rule
Lead generation doesn’t instantly translate into conversions. 20% of your leads will generate 80% of your revenue, so make sure you know who’s worth converting.
If you want to know which lead can convert, consider the following through a live chat:
- Motivation
- Timeline Conditions
- Asking Price
[23:27] Improve Your Funnel
Your ads and posts should consider a CTA that’s immediate. Consider an AI virtual assistant to create a live automated conversation with sellers.
There are three points of contact on a website:
- Live chatbot
- Contact number
- Filling out a form
AI can be considered as an Acquisition Manager. It can prioritize potential conversions based on qualifications and schedule corresponding follow-ups.
[32:54] Where AI Technology is Today
Chatbots use a menu of choices and queries. OpenAI and GPT can converse more naturally. But these two options have their limitations. The former is limited to the number of choices, while the latter’s responses can’t be fully controlled.
[37:35] Converting Leads
Generating leads is easy, but conversion is hard. If you struggle to convert your leads, you must invest in services like CLAIRE to help you convert them.
Notable quotes from the Episode:
[20:05] “It was all about who we chose to spend time with, [and] following up with, because as you scale up, the amount of leads you want to do, they don't necessarily just convert into closed deals. You have to have somebody there to convert them. And that person…has to know who's most worth converting.”
[34:22] “We're filling the gap in the market of the hybrid, where you give the consumer…the user fully natural, flexible conversations and you give the company transparency and control over what is said.”
[37:44] “Generating the leads is easy, converting them is the hard part.”
Resources Mentioned:
Bigger Pockets Podcast
Bigger Pockets Episode 77 with Michael Quarles
TitanX
Connect with Will: Email I LinkedIn
