What Is Lead Nurturing?
At its core, lead nurturing is the process of cultivating leads that are not yet ready to buy. Successful lead nurturing anticipates the needs of the buyer based on who they are (using profile characteristics like title, role, industry, and so on) and where they are in the buying process. Nurturing keeps prospects engaged by providing the most relevant content (such as white papers, e-books, and webinars) for their situation.
If done well, lead nurturing can build strong brand loyalty long before a prospect is ready to buy. By cultivating latent demand, companies can increase the conversion of unqualified leads to opportunities and drive more revenue. Nurturing also helps accelerate active opportunities by giving prospective buyers the information they need to make purchasing decisions.
Lead nurturing is about helping buyers along in their educational journey. Thus, it’s most effective when triggered by prospect activity or behaviors. Lead management technologies are often used to automate such real-time marketing. This type of software makes it possible to track leads and automate content delivery while simultaneously collecting behavioral data and triggering corresponding actions.
Understanding Lead Nurturing
Not every prospect is ready to buy now. In fact, according to research firm SiriusDecisions, of the 20 percent of leads that sales reps follow up on, 70 percent are not qualified. But it’s a mistake to ignore those leads. After all, 80 percent of prospects that don’t make the grade today will go on to buy from someone within the next 24 months. And when they do, you want your company to be at the top of their shortlist.
Once prospects are in the funnel, nurturing them with helpful, relevant content moves potential buyers through each stage of consideration at a natural pace until they’re ready to be passed on to sales. Nurturing is the safety net for every stage of the buying cycle, helping ensure that no revenue opportunity is missed.
Successful lead nurturing builds customer loyalty and increases revenue. By anticipating the needs of the buyer and providing them with the most relevant content they need to make a smart decision even before they’re ready to purchase. According to a recent Ascend2 study, the most important objectives of a lead nurturing strategy are to increase conversion rates and sales opportunities. However, 59% of B2B companies say creating relevant content is their biggest obstacle to lead nurturing success.
Download this guide to discover even more ways to improve lead nurturing and increase revenue.
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