Many business owners believe that because the term “lead generation” is frequently used, that’s all there is to it: you obtain some leads, convert them, and make some money. But what about that crucial juncture between a produced lead and a closed sale? What takes place there?
It’s unrealistic to expect to identify a lead, contact or email them with your pitch, and seal the deal right away. Leads are nothing more than possibilities. They aren’t a sure thing to sell.
This is where the concept of lead nurturing comes into play.
What is Lead Nurturing?
Simply said, lead nurturing is the process of cultivating relationships with leads and nurturing them through the purchase process.
But that’s the gist of it. Let’s get a little deeper into lead nurturing.
At least half of the leads in each company’s CRM or software aren’t ready to buy. Perhaps the lead came through an online opt-in form in exchange for a lead magnet. Perhaps it was accomplished through sales prospecting, and you’re in the midst of a cold call or cold email campaign. Perhaps it was a trade show business card provided to your sales team.
There are dozens of ways to create leads, but the truth is that just because someone gives you their information doesn’t mean they’re ready to hand over their cash. Expecting them to be there already is foolish, and might even turn someone away.
They’re looking for information. They don’t want to be forced to take their wallets out before they’re ready.
Instead of launching into your hard pitch right away, you should use a more gradual approach.
You don’t want to collect a new lead’s contact information and then scream in their face, “Hey, look at these fantastic things we have!” Purchase some!”
You want to be more aware of your surroundings. You should offer them marketing materials that will pique their interest in what your company does and why they should partner with you. It’s critical to understand where your leads are in the buying process so you can offer them relevant, focused material rather than stuff that will turn them off since they aren’t far enough down the sales funnel.
Why is Lead Nurturing important?
We’ve addressed why it’s vital; you can’t move from lead generation to conversion in one step. That isn’t how it works. But first, let’s get to the bottom of why it doesn’t function that way.
Lead nurturing is viewed as one of the most critical features of marketing automation software by 57% of marketers. When your business is expanding and you’re getting more prospects every year, it’s vital to automate your lead nurturing so you can reach out to your audience at every stage of the buying process.
When a company concentrates on lead nurturing, it generates 50% more sales at a 33% lower cost. This means that if you, as a marketer, focus on nurturing each lead generated rather than having the sales staff go in for a hard sell, your ROI will be much better.
Furthermore, leads who have been fostered make 47 percent more purchases than leads who have not been developed. Which is always a definite plus, and it’s well worth your money.
This is why lead nurturing is such an essential component of your sales and marketing strategy. In contrasted to the return on investment you’ll see, the time it takes to nurture your leads is negligible.
What Is the Best Way to Create a Lead Nurturing Campaign?
Let’s move on to the next phase now that we’ve explored what lead nurturing is and why it’s so vital for a business to incorporate in their marketing strategy. How do you go about putting out a lead nurturing campaign?
- Create Audience Segments
The first and most crucial step is to make sure that everyone who participates in your campaign is at the same stage of the buying process so that they may be properly nurtured together. As previously said, you don’t want to provide material and calls to action to someone at the beginning of the buying process who is in the middle or end of the buying process. That’s a surefire way to lose a client.
Instead, start by segmenting your leads based on where they are in the purchasing process. You may accomplish this by setting up opt-in triggers, lead scoring, or even sending out a survey.
Lead scoring is the process of assigning a score to a lead based on a variety of characteristics such as visits to your website, videos watched (high level or in-depth), free material downloads, webinars attended, blog articles read, social media posts interacted with, and so on. The more an individual interacts with your company, the more likely they are to become a customer.
- Send Something Beneficial
The next step is to provide your customers with something of value. Lead nurturing is a mutually beneficial practise. You can’t expect your clients to give you their email address, spend time reading your material, and eventually give you their money unless you give them something in return.
Don’t immediately send them an email asking whether they want a quote or a demo once they sign up for additional information about your company on one of your landing pages. They won’t react to your email unless they’re absolutely interested in buying (which only a small number of individuals are).
- Set up an Email Marketing Automation System
Then, to stay top of mind and provide important information to each lead, you’ll send them through an automated email marketing campaign that answers FAQs, offers resources like blog posts and videos, and more.
Make certain that each email has a purpose or goal. You don’t want to include anything in your marketing funnel that isn’t useful.
Every email you send should be aimed at bringing your leads farther down the sales funnel. So you want to provide them useful advice and information, but ultimately you want them to become a customer.
One thing is certain: it is not a choice, regardless of how you manage your lead nurturing campaign. Lead nurturing is critical for your company’s success. It has the potential to help you close more sales and earn more money.
Lead nurturing tactics can be aided by a good customer data platform, such as us, Aiozium. Aiozium helps you recognise client patterns and behaviours, identify new markets, and make the most of the data you have available by offering high-quality, clean data.