What are you doing with these leads that have said they are interested in what you have to offer, but are not ready to purchase? Are you waiting for them to contact you when they are ready or maybe your sales team has a phone call reminder set up to touch base every 6 months?
It is a mistake to ignore your prospects that are not ready to buy yet.
According to a study from SiriusDecisions 80% of prospects deemed “bad leads” by sales teams will ultimately go on to buy (from you or more likely a competitor) within 24 months. So, don’t you want to find a way to stay connected and top-of-mind when they are ready?
Lead Nurturing lets you stay engaged.
What is Lead Nurturing?
If you have adopted a Marketing Automation System such has Act-On, ClickDimensions, HubSpot or Pardot for example, you are probably familiar with the concept of nurturing. However, the way that it’s named in your system may be different. Some systems refer to nurturing as lead nurturing, others as drip campaigns, nurture programs or just plain campaigns. For the purpose of today’s conversation we will stick with the terminology “lead nurturing” but keep in mind that this is synonymous with other terms used.
Depending on the Marketing Automation tool you are using, the technology to create the nurture campaigns may be slightly different but the overall concepts are the same. You are developing a series of actions and communications based on behaviors.
For example, if someone submits a form located on your website you may choose to add the prospect to a defined nurture program. Adding a contact to a marketing list in your system is another example of an entry point into a lead nurture program. Once a person is entered into the lead nurture program, you would then establish the targeted communications that should be sent to that prospect to start their customer journey.
Nurturing programs, typically are set up with time delays so you can control the timing of the email send automatically. In addition, most nurture programs have branching logic capabilities that will allow you to send your prospects and leads down different paths depending on their engagement points with the past materials you have sent.
Nurture technology is an extremely useful tool as it affords you the ability to create targeted and automated communications at scale to your audiences.
Can I use the same nurture for all of my contacts?
While you could send the same nurture program to all leads, the better question is “Should I”?
Just like any other form of marketing, the more targeted and personalized you can be with your messaging the more successful you will be. In order to create that relevant communication, you need to first define your target. Defining your target it more than stating “my target is anyone that wants to purchase my product””. That is not a target. To be successful with lead nurturing you will need to identify your buyer groups, understand your buyers concerns, their purchasing process and how your product or services can solve their challenges.
How Does Lead Nurturing Drive Sales?
While the delivery channel for a lead nurturing program is primarily email based (although it can contain other activities) it’s is important to remember that lead nurturing is much more than just email communication.
Rather than a random and independent email sent out to a marketing list when the time feels right, a lead nurturing campaign, is a series of planned communications with the intent of moving someone to another point in a sales stage or to encourage them to complete an action. When setting up a lead nurturing campaign, each step should have a clear and concise goal or conversion point in mind with the ultimate goal of turning the lead into a customer.
Companies that are successfully using lead nurturing programs today have a committed focus to aligning sales and marketing with a shared goal of producing high quality leads. This focus leads to increases in lead to opportunity conversion rates, a more efficient sales process and revenue increases.
Want to learn more about marketing automation? Ledgeview Partners is a ClickDimensions and Act-On Partner and also provides Marketing Automation Services across many additional platforms.
Contact us today (yeah, we have a form you can fill out) to learn more.
Also, check out this GREAT on-demand webcast on “Driving Sales with Targeted Lead Nurturing Strategies” – just fill out the form below for immediate access!