What is Lead Nurturing?
According to a study made by Marketing Sherpa, approximately 73% of the generated leads are not ready to purchase anything when they opt-in to your messages.
Sending those leads to sales reps anyway end up only in frustration on both sides. The lead is unlikely to buy anything at this point, and if your sales rep is too aggressive in trying to close a deal, the lead might leave your business before they even tried your product or your service.
How to not scare off those potential customers before they are ready to become your customers?
That’s the job of lead nurturing strategy! Lead nurture is a way for your leads to learn more about your business and start building a relationship with your business. It’s also a way to make those leads close enough to your business, so when they have a need, they will choose your company first.
Lead Nurturing in numbers
Not convinced is it worth the effort? Look at the data below:
- 67% of B2B marketers say they see at least a 10% increase in sales opportunities through lead nurturing, with 15% seeing opportunities increase by 30% or more. (DemandGen Report)
- Businesses who nurture leads make 50% more sales at a cost 33% less than non-nurtured prospects. (Strategic IC)
- 65% of B2B marketers have NOT established lead nurturing (Marketing Sherpa)
- Using lead nurturing converters 15-20% of the “not yet ready to purchase” leads into sales (Gleanster)
- Companies that excel at lead nurturing generate 50% more sales leads at 33% lower cost per lead. (DemandGen Report)
- Lead nurturing can potentially save 80% of your direct mail budget and bring a 10% or greater increase in revenue over 6-9 months (Gartner)
Benefits of Lead Nurturing
So how can you start building a relationship with your potential customers until they are ready to use your services? Here’s a couple of ways:
- By using lead scoring to determine which leads need nurturing
- By using targeted content – giving your customers content tailored up to their needs and interests
- By nurturing your leads on multiple channels – not only by email newsletters but also social media accounts, websites and paid ads. Your customers are in plenty of places at all, and it’s crucial that you would be in all those places your customers are!
- Quickly answering all questions and comments – especially those on social media
- Using retargeting marketing – for example in the form of abandoned cart emails
- Preparing personalised emails for your leads, with content relevant to their interests
Make sure though to not overwhelm your potential customers with tons of information. Too many emails or social media posts can cause leads to unsubscribe from your newsletter or unfollow your social media accounts. 78% of consumers unsubscribe from newsletters because a company was sending them too many emails, too often.
Lead nurturing strategy might sound complicated and time-consuming but it’s definitely worth the effort. You might just find some of your best customers among those nurtured leads. After you find the nurturing strategy that works best for your business, you are sure to see a boost in conversion rates and your revenue.