The process of developing relationships with the customers at every stage of the sales funnel is known as lead nurturing. Lead generation involves the marketing process of capturing the interest of potential clients, lead nurturing makes sure that the already captured leads are nurtured into paying customers. For B2B marketers, lead nurturing is of equal importance.
According to statistics, only 2% of the customers buy at the initial meeting. The remaining 98% of the prospects need some adequate information through the sales funnel before they enter into business with you. This is the reason why lead nurturing is essential. It can help you convert more lead into sales and increase the scope of those sales. Invespcro states that companies that stop at lead generation lose up to 80% of the leads while they spend 33% more than the companies focusing on lead nurturing strategy and generate 50% fewer sales as well.
In this year, most of the B2B marketers are focusing more on lead nurturing simply because it helps to convert inbound traffic into real sales. Nurtured leads help companies to achieve 20% more sales than non-nurtured sales according to research conducted by Forrester. Despite the known benefits of lead nurturing, only 36% of the B2B marketers actively focus on nurturing their sales leads. This means that there is a tremendous opportunity for marketers to implement lead nurturing strategies effectively into their marketing plan to gain an advantage over their competitors.
Here are some ways you can use to implement your lead nurturing strategy and increase your sales.
Create a System
When we talk about the system, it is not some hardware or equipment. You should create a plan to follow-up contacts with customers. When you start getting leads, segregate them into different categories like ready to buy, not ready to buy, not likely to buy, etc. When you are done with that, rank the leads according to how likely are they going to enter into a business contract with you. You should know that proper management of each lead throughout the process is the foundation of lead nurturing.
Use of Multiple Channels
Customers have so many alternative options, and to make them buy from you. You need to keep in touch with them. Each lead is likely to require more than one contact to close the sale. You can use multiple channels to stay in contact with them. Besides sending emails or calling the customers constantly, you can send a postcard. It is a sign of goodwill and will give a good impression of your business. Another thing you can try as a B2B marketer is that using digital means of promoting the business like Google Adwords and advertising on social media. It is a good practice to target customers while they are researching online while making their purchase decision.
Timely, Personal and Targeted Approach
The appropriate, personal and focused approach helps a lot in nurturing leads. You should have certain knowledge about the business you are targeting in your B2B marketing strategy. You should not call them when they are having their business meetings but at the time when they can listen to your proposal comfortably. Besides this, you’ll need to spend some time thinking about how the prospect business aligns with your product or service, then create offers that fit.
The importance of lead nurturing cannot be denied, but for B2B marketing, it is the need of the hour. Lead nurturing can help you take your business to new heights and expand the size of the firm as well.