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The rewards of nurturing and cultivating leads
Lead nurturing is the process of building and maintaining relationships with prospective clients at all stages of the buying cycle to eventually turn them into active clients. According to studies performed by Marketo,
“Companies that excel at lead nurturing generate 50% more sales ready leads at a 33% lower cost.”
Why is that?
Before lead nurturing was ever a “thing”, companies would hope to get new clients through conversation, infomercials and newspapers. They would publish advertisements in local newspapers and hope that friendly conversation would lead to a purchase.
Fortunately, today, lead generation has become automated. No longer do we have to go on television, display our products and ask people to “call now on the number below.” Although TV marketing is beneficial, we now have social media and email marketing, as well as other tools that help us to cultivate leads.
Many of our clients have seen the benefits of lead nurturing. Some have made a complete turnaround in their turnover simply due to this. It works! Here are ways lead nurturing can help your business:
Lead nurturing gives you the opportunity to close leads faster.
With lead nurturing you can use email marketing techniques to keep your leads engaged with your business. This involves sending out automated emails to leads with interesting news and offers.
You may launch each campaign and let it automatically work for you. Leads will read them and if interested, contact you to purchase. You avoid spending time having to personally qualify a lead and warm them up to do business with you.
Email marketing will do the qualifying and warming up of leads for you. Your email marketing campaigns should be personal, targeted and full of life! That way leads feel you’re speaking to them personally, which builds trust with your brand.
In addition, studies show that up to 50% of sales tend to go to the supplier that responds the quickest. What this means for you as a business owner is that you need to respond quickly to a lead query if you want to eventually make the sale. Lead nurturing can help you to do that.
Lead nurturing allows you to segment your target market.
Studies show that segmented email communication gets 50% more clicks. This is a huge percentage of sales you’re missing out on if you’re not nurturing your leads.
Segmenting your target market means looking at your ideal clients and separating them based on traits, lifestyle, affordability and more. Once you have segmented your target market you then send email campaigns suited to each segment. Get into the mind of each segment and build campaigns surrounding them. This will again allow your leads to connect with you and push them further along the sales funnel.
Lead nurturing keeps you in constant communication with your leads.
Often times leads grow cold because they haven’t heard from you in a while. Lead nurturing will maintain constant communication with your leads to keep them interested, and if they haven’t visited your website in a while you can see it on a report and then take further steps to re-engage with them.
Lead nurturing allows you to see the direct impact of your efforts.
With fantastic reports and statistics, you can see exactly what reactions your campaigns are producing. You can view the click-through rate, purchase rate and follow the lead’s movements up until purchase. This will allow you to find out which campaigns are working and trash or tweak the campaigns that don’t.
In closing, it’s important to note that lead nurturing only works when done correctly. You will need to have the right lead nurturing program and assistance to see good results. Lead nurturing done well will automate your processes and put you in the best position to make a sale. If you want to learn more about this, set up a free consultation here.