Are you confused already, by looking at the title? I know you are, it is only obvious. So before getting any further into the topic, let us break the topic into simple phrases, give you the meaning of the complicated words, and then explain to you the details of today’s topic.
So the first and foremost thought that must be popping into your mind is, “what is Lead Nurturing”?
What is Lead Nurturing?
Let’s put it in simple words for you. Lead Nurturing is the process of building and establishing meaningful relationships with your customers, thus gently pushing them through the buyer’s journey and towards making a purchase. This strategy helps to increase the chances of your potential leads of conversion.
Why do you need a Lead Nurture Strategy RIGHT NOW!
After getting to understand what Lead Nurturing is, the next obvious question will be why you need a Lead Nurture Strategy at all. Well, let the statistics do the talking for you.
- Nurtured leads make 47% more purchases than non-nurtured leads
- Lead nurturing emails have 4-10 times better response rate than stand-alone blast emails
- Companies with successful lead generation programs generate 50% more sales-ready leads at a 33% lower cost
- 51% of email marketers say email segmentation is the most effective way to deliver a personalized lead nurturing experience
Apart from the numbers, the Lead Nurture Strategy also helps your business in –
- Generating higher-quality leads
- Increasing Average Order Value (AOV)
- Creating more loyal customers
- Establishing authority in your industry
Benefits/Importance of Nurturing your Leads
- Your Audience will remember you
Benefit no. 1 has to be the fact that your audience will remember you. When you nurture your leads (that is your audience), you’re bound to stay on top of their minds. This happens because of the relations that you build with them. This is a great thing because the next time they need to buy any products and/or services, yours will be the first brand that pops into their heads.
- Boosts your Sales Strategy
Lead Nurturing will boost your sales. When you apply this strategy, you actually target future customers and focus on converting leads into future prospects. This in turn will boost your sales. Speaking analytically, Nurtured Leads make purchases that are 47% higher than non-nurtured leads, Annuitas reported based on research from Marketing Sherpa.
- Reduces Customer Acquisition Costs (CAC)
Lead generation helps you to make use of less-expensive methods of attracting customers. And spending less on marketing will be good for your customer acquisition costs.
(CAC = Total Marketing Cost / Number of Sales)
- Introduces Prospects to your Company
This strategy is also an effective way to showcase your products and/or services to your prospects. Lead Nurturing allows you to show potential customers the complete picture of who you are and what you can provide for them.
- Helps gain your Audience’s Trust
Proving your potential customers that you understand their pain points, and/or giving them useful tips and insights can help you not only to connect with your audience but also gain their trust. Sharing your knowledge with them lets them know that the motive of you building relationships with them isn’t just about your company making a sale, but also about providing them with necessary tools and information.
This makes them feel cared about and heard.
Few Lead Nurturing Strategies that you could use-
- Send personalized emails
Customers love personalization. You sending them personalized messages will make them feel connected with you and your company, thus making them love your brand as well.
- Align your sales and marketing strategies
When sales and marketing align, lead nurturing becomes more successful and customer retention rates improve.
- Follow-up with leads from time to time
Checking in on your leads is just like sending them a personalized email. This makes them feel more connected and cared about.
- Leverage Targeted Content
In the case of Lead Nurturing, one-size-DOES-NOT-fit all. Nurturing your leads strategically with targeted content can significantly improve results. You need to understand your customers and their unique preferences.
- Use multi-channel Lead Nurturing Techniques
In order to be successful, you need to adopt multi-channel lead nurturing, such as – Marketing Automation, Dynamic Website Content, Email Marketing, Social Media, Paid Retargeting, and Direct Sales Outreach.
Final Thoughts
In a nutshell, Lead Nurturing and its strategies allow you to build trust and credibility with your prospects over time, which in turn makes them more likely to become leads.
We hope you find the provided information useful. If you don’t want to get involved in this lengthy process, let us help you.
