Thanks to the Internet, seldom is someone who buys your product or service a complete stranger. They can go online to learn about you, and they’ll likely also use social media to find out what other customers think about you.
Sales are a result of the relationships you create with strangers, transforming them into leads which you can then accompany along the buyer’s journey to provide them with the information they need to finally make that purchasing decision. Lead nurturing is the process of building those relationships.
Customers set the agenda
The problem with most marketing tactics is that you push them out based on your needs. Successful lead nurturing is a customer-centric prospect, where you touch base with prospects on their timeline, rather than yours. You’ll engage a group of prospects you’ve identified and reward them with information and engagement relevant at each stage of their journey towards the sale.
Lead nurturing accomplishes two extremely important things:
- It builds trust through engagement.
- It establishes your value.
What is the single most important thing you share with your customers? It’s the problem they want to solve – also known as the pain point. This means that you probably shouldn’t lead with your solution. That makes it all about you.
Lead nurturing focuses around creating engagement, a two-way communication. The part of the conversation you hear back helps you determine what to share with them next so you can deepen their trust and increase your value as someone who can help them with an appropriate solution.
Leads: by the numbers
Research paints an interesting picture about the leads you generate.
- 50 percent are qualified but aren’t ready to buy right now
- 25 percent may never buy
It’s why lead nurturing is crucial to your marketing process. Starting up these conversations with people who aren’t yet ready to buy has been found to generate 50 percent more sales, and at a 33 percent lower cost. Nurtured leads have been found to make 47 percent larger purchases than non-nurtured leads. It’s why HubSpot reports that lead nurturing is one of the top three objectives for marketers.
Top lead nurturing tactics
According to a recent survey by business data software platform DataBox, email remains the most effective way to deepen the conversation with leads and accompany them along their buyer’s journey. Organizations participating in the survey said they believe that retargeting, personalization, one-on-one interactions, content marketing, and surveys also were effective in lead engagement.
Here’s the most important first-step in lead nurturing – you have to know who’s looking for what you sell so that you can invest in relationship-building with them. Find out how we use Identity Resolution to are actively looking for your product or service in your market, so you can start nurturing them as leads before your competitors do.