Discovering the Value of Lead Nurturing for Your Prospects
If you know the first thing about Inbound Marketing, you know that it’s based on the premise of bringing customers in, based on their own interests and needs, rather than interrupting their lives with impersonal ads, cold-calling and other outbound tactics. Inbound Marketing hinges on providing customers with content and information that they want, creating relationships between fans and brands, and providing customers with a more personalized experience.
Customers now have numerous avenues through which to explore products, services and brands; attracting and engaging them with content and nurturing that relationship until they are ready to buy is an important aspect of marketing for any forward-thinking company. But the process involved with nurturing a prospect until they’re ready to buy is tricky.
That’s where the science of lead nurturing becomes vital to your company’s success.
What is lead nurturing, you ask? Keep reading—we’ll explain both what it is, and how it can dramatically improve your company’s ROI.
“What is Lead Nurturing, Anyway?”
Lead nurturing, in a nutshell, is actively engaging in a relationship with potential clients, even when they haven’t purchased from you in a considerable amount of time or at all.
First, think about the fact that up to 96% of first-time visitors to your company’s website simply aren’t ready to buy yet.
However, statistics show that up to 70% of those first-time visitors may eventually become purchasing customers in the future.
- Once you’ve captured a lead’s information, you have the power to personalize your interactions with them, building a rapport and establishing trust between the prospect and your company.
- A mature lead nurturing process would allow a company to present a prospect with content and information that the prospect is interested in. In establishing your company as an authority and gaining esteem in a prospect’s eyes, you increase the chances that they will purchase from your company in the future.
There are, however, a few steps to take before you can determine the best lead nurturing processes for your company’s leads.
Create a Brand Story
Before you can develop a lead nurturing strategy, you have to have leads to nurture. In this day and age, you’re battling a vast sea of competitors, any of whom are accessible to your prospects at the click of a button.
This means the value of appealing to your prospects on an emotional or personal level has skyrocketed; with so many options to choose from, it’s no wonder customers gravitate towards the brands that offer a human element in their branding.
Nail down your company’s tone, presentation and aesthetic and present your target audience with content that is interesting and relevant to them.
Answer their questions, express camaraderie and identify with their struggles. Win their trust by showing them that you understand and value them as consumers.
Deliver Premium Content to Capture Info
Once you’ve established your company as an industry leader and gained some rapport with a prospect, you’ve increased the chance that they will submit their information on an offer.
- To make the process of submitting information worth it for your potential customers, you should provide them with interesting, nuanced and useful information, like an eBook, a long blog article or attention-grabbing content on social media.
- When you’ve done the requisite study on your customer base’s pain points, concerns, struggles, questions and desires, you should be able to produce content that they want to read and will submit their information to obtain.
Get Your Lead’s Attention
Sometimes, a lead’s interest in your brand and products fizzles before they even make a purchase. There are ways to remedy this, however, and gain back the intrigue and attention a prospect once showed your brand:
- Send an exclusive offer. Provide your cold leads with premium, exclusive content to re-engage them. Invite them to an exclusive webinar. Give them a sneak-peak at new products yet to roll out on your website. Make them feel special and pique their interest.
- Provide them with a first-buyer’s discount. Few things are as attractive to consumers as exclusive discounts on products they are already interested in. Nudge your cold leads towards re-engagement and possible first-time purchases with special discounts.
- Mix up the content you send. If you generally send blog articles and eBooks to your leads, consider mixing it up with some Slideshares, exclusive infographics or videos. Adding variety to the content you send will create a ripple in a cold lead’s prior knowledge of your company’s content, helping to both attract their attention and pique their curiosity.
Align Your Sales and Marketing Teams
This concept and art of sMarketing continues to confound inbound marketers and companies everywhere. Sales and marketing teams have traditionally found it difficult to communicate, align goals and function symbiotically. These struggles can cost companies up to 10% of their annual revenue due to lost or badly-nurtured leads
However, companies that report strong marketing and sales alignment achieve a 20% annual growth rate.
Here are a few base-level ways to get on the road to better smarketing:
- Determine a formal, cross-department definition of a qualified lead.
- Determine departmental standards for communication, timing and cues for sales-ready leads.
- Determine and share profiles of optimal leads that are likely to convert to customers
- Consider intertwining marketing and sales metrics to establish common revenue goals across departments.
Wrapping It All Up
Lead nurturing can be a long and confusing process, but the benefits it offers outweigh the growing pains endured and efforts expended in getting there. Here are a few key statistics to keep in mind as you embark on the journey towards effective lead nurturing strategies:
- Companies that have established effective lead-nurturing strategies generate 50% more sales at 33% lower cost.
- Nurtured leads make 47% larger purchases than non-nurtured ones.
- Companies with mature lead generation strategies enjoy a 9.3% higher sales quota achievement than companies without.
Get more information on the science of lead nurturing and implementing some effective strategies in your company with The Science of Enterprise Lead Nurturing.