Here are four strategies you can use to increase the likelihood that your qualified leads will convert:

Think speed. Businesses that follow up within five minutes are nine times more likely to convert Web leads. Take this timing into account when you establish your follow-up and customer management systems. Use speed to get to your prospect before the competition.

Focus on customer relationship management. A single call or e-mail is not enough. Once you have a quality lead, the best chance of closing the business lies in a dedicated, multitouch process across mediums with personalized messages that emphasize the individual's details. After following up, add the lead to your customer relationship management system, and connect with him or her regularly. Just because a lead didn't close today doesn't mean he or she can't be sold six months from now.

Develop a quote system. Implement a system that allows customers to adjust quotes on their own with different coverage and pricing options. This allows the customer to feel comfortable, in control, and informed so you can reach out and quickly finalize the sale.

Test multiple lead vendors. Diversify your lead generation portfolio by testing multiple lead vendors. After six months, determine the return on investment for each vendor, and make allocation decisions based on the data. Take into account how the vendor treats returns and credits, as well as how responsive the company is to your requests.

If you're reluctant to increase your upfront investment to generate fewer leads, do the math. Higher-quality leads come at a higher initial cost, but the resulting sales will pay higher dividends.

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4 strategies for dealing with online leads

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