Using Lead Nurturing to Boost Conversions
Do you want to attract and convert more leads for your business?
Lead nurturing allows you to develop relationships with your leads and move them through the sales funnel so they quickly become customers.
On this page, we’ll take a look at the lead nurturing process and how you can use it to attract and convert more customers.
What is Lead Nurturing?
Lead nurturing is the process of fostering relationships with potential customers at every stage of the buying process. It focuses on listening to their needs and providing the information they need to make a purchase.
Why is Lead Nurturing Important?
Did you know that 50% of qualified leads are not yet ready to buy?
People may not purchase your products or services immediately after learning about your company. In fact, 63% of people who inquire about your company today won’t make a purchase for three months, and 20% will wait more than 12 months to buy.
This is why lead nurturing is so important.
In addition, companies that implement lead nurturing strategies earn 50% more qualified leads at a 33% lower cost. Nurtured leads also make 47% larger purchases compared to non-nurtured leads.
Clearly, lead nurturing is valuable for any business. However, a study by MarketingSherpa revealed that only 36% of marketers actively nurture leads. This means that implementing lead nurturing can give you a huge leg up against competitors.
Lead Nurturing Process
Now that you understand the importance of lead nurturing, let’s take a look at how you can nurture leads during each phase of the lead generation process.
Lead Generation
Lead generation means attracting new leads for your business.
As soon as someone expresses interest in your company by entering their contact info on your website, they become a lead. From this first communication, you can nurture the lead and develop a relationship with them.
For example, you can send a welcome email that contains important information about your company and what you offer. This will help spark their interest, establish rapport, and move them deeper into the sales funnel.
Your response can be automated or manual, but you need to acknowledge your leads to tell them that you will follow up with additional information.
It’s also helpful to give them a reference point to remind them how they got connected to you. If they downloaded a guide on your website, you can thank them for the download and let them know that you will be in touch with more helpful information and insights.
Lead Qualification
Just because someone shows interest in your company doesn’t mean they have the authority or resources to make a purchase.
During the lead qualification phase, you identify the leads that are most likely to convert. Then, you send them marketing activities designed to move them through the sales funnel.
After all, nobody wants to waste time and money marketing to leads who aren’t interested in buying.
Engagement
After you qualify your leads, it’s time to provide them with the information they need to make a purchase.
You can do this by listening to their needs and teaching them about solutions your business provides. In addition, you can schedule a phone call, set up a sales pitch, or provide them with additional resources that will help them in their search for information.
Conversion
The ultimate goal of lead generation is to earn new customers and close more sales.
Throughout the lead generation process, you need to nurture leads so that they seamlessly transition from one phase of the sales funnel to the next. In the end, you need to send a message so compelling that they purchase your products or services.
Lead Nurturing Tips
Next, we’ll explore some tips to take your lead nurturing campaigns to the next level.
Create Buyer Personas
First, it’s helpful to create personas that represent your ideal customers.
What is their background? Where do they live? What are their needs?
Developing personas that answer these questions will help you attract qualified prospects for your company. Then, you can tailor your communication and lead nurturing strategy to resonate with them.
For example, if a lead is a junior marketer at a B2C company and your ideal customer is an executive at a B2B firm, this is a good indication that the lead is not a good fit for your business.
However, if a lead matches your ideal buyer persona, you can continue to build the relationship and provide them with helpful information about your company.
Listen to your Leads
A major part of the lead nurturing process is listening to your leads to understand their needs.
By reviewing their email and activities on your website, you can get a good idea of what potential customers need.
This will position your products and services as solutions to their problems and highlight their unique selling propositions. You can also communicate the value your company will provide and then follow up with more targeted information based on the needs of individual leads.
Use Marketing Automation
Marketing automation streamlines your marketing emails and maintains genuine conversations with your leads.
With marketing automation, you ensure each lead receives the most relevant information at the most appropriate times.
For example, as soon as someone enters their contact information on your website, it can trigger a welcome email that introduces them to your company. Then, you can automatically schedule follow-up emails that contain helpful information based on a lead’s interests and behavior on your site.
Marketing automation helps move leads through the sales funnel, which means more customers who spend more money.
Create Targeted Content
Did you know that targeted content produces a 20% increase in sales opportunities?
No two customers are the same, and it’s important that you personalize your content to resonate with each lead.
Using your buyer personas, you can create targeted content that nurtures your leads based on their interests and goals. This will ensure that you provide them with the most relevant information they need to move to the next phase of the sales funnel.
Use Multiple Channels
On average, customers receive 10 marketing messages from the time they become a lead until they become a customer. The most successful lead nurturing campaigns provide helpful content that answers customers’ questions and helps them progress through the sales funnel.
It’s important for you to create a collection of helpful content, including social media, blog posts, email newsletters, whitepapers, guides, and more.
Effective multi-channel lead nurturing includes a mix of marketing automation, email marketing, social media posts, paid retargeting, website content, and direct sales outreach.
All of these strategies will ensure that you reach your prospects via the channels they use the most and provide them with the helpful information they need.
Score your Leads
According to the Lead Generation Marketing Effectiveness Study, 68% of marketers say that lead scoring based on content engagement is the most useful tactic for earning more revenue from lead nurturing.
Lead scoring allows you to rank potential customers to determine their value to your organization.
Most marketing automation platforms score leads by assigning numeric values to website browsing behaviors and social media interactions. You can then use that score to determine which leads to contact directly and which leads to nurture further down the sales funnel.
Follow up Promptly
If you contact a lead within five minutes of when they convert on your website, they are 21 times more likely to become qualified than if you contact them 30 minutes after the initial conversion.
For example, you can easily send a welcome email or call them to provide helpful information.
You will already know a prospect’s interests based on their browsing history on your site, and you’ll have enough information to research their company and role.
Evaluate your Efforts
It’s also important to take time to review your lead nurturing efforts. Figure out what’s working and look for areas where you can improve.
Ultimately, your lead nurturing tactics should improve ROI for your business, and if they don’t, it’s time to reconsider your strategies.
Concentrate on strategies that resonate with your leads, and invest time and money in tactics that earn your business more qualified leads that will become customers.
Nurturing Leads with Content
Creating and publishing content is another great way to nurture leads.
Let’s take a look at a few ways you can nurture leads with content.
Email Marketing
Email marketing is a popular form of lead nurturing, and it allows you to reach potential customers right in their inboxes. It’s so effective because 74% of people prefer to receive commercial communications via email.
With email marketing, you can send content directly to leads that move them through the sales funnel.
You can also personalize your emails, and research shows that personalized emails earn up to six times more revenue per email.
It’s important to remember that your email content needs to provide value to leads in order to work. Nobody likes spam.
Website Content and Blogging
You can also optimize your website with information that helps leads understand your industry.
Your website is often the first point of contact between your business and potential leads, and they need to be able to find the information they need or they’ll go to one of your competitors.
Consider starting a blog and updating it with helpful posts about the latest breakthroughs and trends in your industry. Publishing quality content is a great way to nurture leads and encourage them to find out more about your business.
Social Media Marketing
Social media is a great way to interact with potential customers and develop relationships with them.
Just like your website and blog, you can provide helpful, interesting content on social media.
You can also directly answer customer questions in a timely manner to show that you care about your customers’ comments. This is why it’s important to designate someone on your team to respond to messages and comments on social media.
Social media shows customers that you care, helps prospects feel more comfortable about your business, and establishes trust, which is crucial to earning new customers.
Want to Earn More Leads for your Business?
Are you looking to work with a lead nurturing agency or interested in learning more about how lead nurturing can help you attract and convert more qualified customers for your business?
Contact Start Lead Gen today to speak with a lead generation expert.
We work with hundreds of businesses across the country, and we’re excited to become your lead generation partner!
