What is Lead Nurturing?
Lead nurturing is communicating consistent and meaningful touches with viable prospects who are not at the buying stage yet. Since only 25% of leads are legitimate and should go to sales the other leads need to be kept back and nurtured until they are ready to move on.
In other words, if you contact leads that are not ready to buy and push them into making a decision right away, you will likely lose them. Lead nurturing gives you the ability to deliver relevant messages over a set amount of time to engage the consumer at the right time.
Why Nurture Leads?
Studies show that targeted and segmented emails perform better than mass email communications. Lead nurturing enables you to tie a series of emails to a specific activity or conversion event.
Lead nurturing makes your marketing efforts smarter. Using what we know about the leads we will segment them into groups to tailor the message and timing that makes the most sense.
- Stay top of mind – Delivering timely consistent communication helps build brand trust.
- Segment messages- Sending your customers messages that align with their product interest will help build brand awareness.
- Learning about what interests your leads- By presenting different questions or types of content and seeing who responds to what you can qualify leads and set yourself up for conversions.
- Shorten the sales cycle – Nurtured Leads have a 23% shorter sales cycle.
Step 1: Define the goal of the nurturing campaign
Before you start you need to determine the goal of nurturing. We need to know where we are heading. Here are a few examples:
- Reawaken cold leads
- Increase lead quality
- Generate new leads
- Recycle old leads
Step 2: Segmentation/Personas/Buying Stage
You do not cater to just one type of customer. Make sure your messages reflect who you are talking to.
Here are a few stats:
- Segmented emails get 50% more clicks. (Source: MarketingSherpa)
- Targeted program reduces advertising costs 73%, leads to 3,000% ROI (Source: MarketingSherpa)
- Both open and click-through rates improved by over 14% in users’ segmented campaigns compared to non-segmented campaigns
- Industry: Healthcare, Government, Education
- Website behavior: Pageviews, website visits, conversions (also determines buying stage)
- Buying Cycle Stage
- Demographics: Role, Company Size, Job Function
- Past Purchase
Step 3: Define key performance indicator (KPI)
Decide what metrics determine success.
- What we define as a conversion?
- How does the lead move to the next step?
- What makes a lead sales ready and what actions do we want them to take in the process.
- Triggers- These are the indicators to move the lead along the path or give them points towards moving to sales qualified.
- # of clicks
- Videos watch
- Download whitepaper
- Attended event
Step 4: Assets: Message - Tone - Audience
We will work with you to make sure you have the right calls to action and the right message for your target audience.
- Landing Page
- Auto Responders (thank you page)
- White paper
Step 5: Scoring
Scoring helps to ensure that only the best leads get passed to sales while those that are not sales ready are nurtured.
70% of sales leads are not properly leveraged or are completely ignored, thus wasting marketing program dollars. -Gartner
Step 6: Map the plan and set
How are you going to move leads through the nurturing process?
- Order of emails
- Reminder emails
- End track
Step 7: A/B Testing and Discovery
Test everything! We will need to perfect the right message with your audience. Our goal is to build a knowledge base of what your customer responds to and the messages and success we have in our testing process. Here are just a few of the many things we test:
- Content Copy
- Form length