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Nurturing Leads - it's a wonderful thing to do
“If Lead Generation is the creation of potential customer interest in your products or services then Lead Nurturing is the continued cultivation of this interest.”
We're feeling pretty caring and attentive today so we thought we'd focus on lead nurturing. Awww, we're sweet, hey? So, let's get started.
What is lead nurturing?
As an avid online user with an interest in online marketing, you're probably being nurtured right now, whether you know it or not (hint: we're nurturing you). But how is that happening and what does it mean? And do you like it?
If Lead Generation is the creation of potential customer interest in your products or services then Lead Nurturing is the continued cultivation of this interest.
Lead nurturing recognises that many of the leads you collect through lead generation are not-sales ready but are likely to eventually buy. When done well, automated lead nurturing can build strong brand loyalty long before a prospect is ready to buy.
The short of it
According to research, companies that excel at lead nurturing are able to generate 50% more sales-ready leads at 33% lower cost per lead. Not a bad little statistic really.
And, it's hardly a big secret that many small businesses don';t nurture their leads as well as they ought to.
Find out why you should nurture your lead nurturing process, what the process entails, if it can work for you and see a real live example (kinda, sorta). Click this link to read the whole story. LINK.
Why Nurture Leads?
The smartest marketing minds around will agree that without a well-thought out follow up campaign that allows you to consistently and effectively follow up with your leads- you will most likely be wasting all the time, money and effort you have put in.
Maybe you generated your leads through a PPC or Facebook ad campaign; maybe you spent hundreds or even thousands of dollars getting your website up and running and bringing in new leads. It's hardly worth pointing out that it would be a waste not to follow through with these leads.
But who has time to follow through with your hundreds or thousands of leads. You would need a super committed team of salespeople who are willing to work tirelessly to convert your leads into happy paying customers.
The smart move? To completely avoid these expensive, time-intensive efforts and find an email marketing system that can do your relentless grunt work and prevent your prospects from falling through the cracks.
Lead Nurturing: The process
To effectively nurture your leads, start by putting yourself in your customer's shoes to determine what's important to them. Once you understand a bit more about your potential customers you can start to create targeted content that will educate and builds trust. It's important to use high quality valuable content. Once armed with this content you can begin to build campaigns that progressively move your prospects towards the sale.
A lead nurturing example:
You offer a free report on your website or landing page. The leads fill in their details (name and email or more). You add these details to a nurture campaign; during this series of emails you offer an invitation for a free consultation, or offers to buy. You can continue to follow up in a friendly and helpful way to encourage your lead to move forward and take some action.
It has been proven time and time again that a simple marketing effort such as this will make a huge impact on your conversion rate and sales.
Will lead nurturing work for you?
Lead Nurturing is cost-effective and can generate up to 50% more sales ready leads than a simple lead generation campaign. However it does require some time to set up and requires a little extra thought (though understanding your customers needs is never a bad thing). After initial set-up you can automate the process so all leads are taken through the lead nurture process and are tagged accordingly along the way so you always know where your prospects are in the sales process.
The Lead Nurture system
Email marketing these days is super simple. There are a multitude of web-based programs out there to help attract new leads, directly market to them and create stronger prospect relationships. Here at Indietech our clients rely on a number of systems, we can either help set-up the system or run your campaigns and manage your growing database of leads for you. Check out our preferred Customer Relationship Management (CRM) systems here.
And that wraps up our lead nurture section of the series. It is, by no means exhaustive, but we hope it demystifies the terms, processes and actions you can take to begin to effectively run a successful online campaign.