Lead Nurturing = Retention of Mindshare
Thinking of going out on a date? There are many factors that may make or break your chances of impressing your date like selecting a poor restaurant or being late. Damn! The next thing that is going to happen is you are never going to hear from that person again. Well, let’s get somewhat more optimistic. You made the right choices, left a good impression and bamm, it’s a yay yay for another date. Now is the time to make more efforts. Because finding a date is just the 1st step, getting him/her to say “yes” is what takes efforts. So is in the case of Sales. Lead generation is the first step in the Sales cycle. Then comes Lead Nurturing.
Let’s take Bob for instance who went on a date with Tina which ended well. Now Bob is looking forward to meeting Tina in a concert which is after two weeks.
Another guy named Jack also went out with Tina but rather than waiting for 2 weeks, he drove her to the office the next day. Every morning Tina wakes up with beautiful fresh lilies delivered to her porch with a good morning message from Jack.
Now, who do you think narrowed his chances of winning Tina’s heart? Well, Jack of course!
Earn Your Client’s Mindshare through Lead Nurturing
This is what happens in business. If you want to earn your customer’s or say client’s mindshare, you must nurture your leads. As companies adopt inbound marketing as a way to generate more leads, the importance of having an effective lead nurturing strategy becomes very clear. In most cases only a relatively small percentage of your inbound leads will be ready to make an immediate purchase, leaving upwards of 90% of your inbound leads on the table.
Executing a powerful lead nurturing strategy can hugely affect the results of your inbound advertising methodology. Research led by Forrester has demonstrated that marketers see a normal 20% expansion in sales opportunities from nurtured vs non-nurtured leads. Moreover, the research additionally uncovers that organizations that excel at lead nurturing generate 50% more sales at a 33% lower cost.
Regardless of the reasonable advantages of lead nurturing, a research by MarketingSherpa shows that just 36% of marketers effectively nurture their potential leads. Beyond a shadow of a doubt, this implies there’s a tremendous open door for other marketers like you to implement effective lead nurturing strategies and pick up favorable advantage over your competition.
Be Jack, Not Bob
If you want a way to Tina’s heart (your client), here are some effective (lead nurturing) tactics:
1) Targeted content – Leads nurtured with targeted content produce an increase in sales opportunities of more than 20%
2) Multi-channel lead nurturing – Four out of five marketers say their email open rates don’t exceed 20%. It’s time to think beyond the inbox.
3) Multiple Touches – Prospects receive an average of 10 touches from the time they enter the top of the funnel until they’re a closed-won customer.
4) Timely Follow Ups – The odds of a lead entering the sales process, or becoming qualified, are 21 times greater when contacted within five minutes versus 30 minutes after an inbound lead converts on your website.
5) Personalized emails – Personalized emails generate up to 6 times higher revenue per email than non-personalized emails do.
6) Lead Scoring – 68% of successful marketers cite lead scoring based on content and engagement as the most effective tactic for improving revenue contribution from lead nurturing.
7) Sales and Marketing Alignment – 89% of companies that align their sales and marketing lead nurturing efforts report measurable increases in the number of sales opportunities generated.
This is not just the end of your tasks. Analyse the outcomes of your efforts. Track it through what is written about your business in the press, through telephone and email feedback you get from customers, in comments left on Facebook and other social networking sites, and with the number of referral customers you get. If customers think and talk about you often and in a predominantly good way, you have earned positive mindshare. If they think or talk about you negatively or infrequently, you’ve lost mindshare. Because the ultimate goal is to have customers think of your products or services before your competitors!