Lead generation is one of the most important and strategic components for successful sales and marketing strategies for any business. While lead generation is all about capturing new customers in the market, it is Lead Nurturing that is the precursor for the conversion of real sales figures.
Lead nurturing is the process of building and maintaining relationships with potential customers through their journey across the sales funnel. Research done by Ascend2 shows that 53% of brands find that their leads require long cycles of “nurturing” to turn into a successful sale. Keeping that in mind, a tactical fusion of both, lead generation and nurturing, is key to ensure positive sales.
Before making a final purchase decision, customers can today access multiple options for most products or services. So, even if a customer initially pays interest in your product, he/she remains reluctant given the choice of options. This is where lead nurturing plays a major role. Its main attempt is to minimize this deviation to its minimal point.
Lead nurturing is all about building a relationship with potential leads and thus following up on those leads before pushing a sale onto them. Here are some best practices that your business can follow to nourish leads to conversion:
By tracking a potential buyer’s journey through their discovery of your brand can give you a lot of insight into their intent to buy. This can help in pitching the relevant product information to potential buyers. Communication can be initiated through emails and even text messages with the customer at regular intervals. By effectively following up with potential leads, a brand should be able to create a need for the product or service in the customer’s mind.
A lead nurturing strategy should be grounded in the personalized interest of each customer. Using the insight from the customer journey will also allow for better knowledge about what the buyer is looking for. When a business caters to the particular needs of buyers, they are more likely to be responsive, and eventually, buy from a business that knows what they want.
Your business should start building rapport with leads as soon as a customer shows interest in your products; be it over your website, or even a cold email campaign. Again, for quick nurturing of business leads, both Sales and the Marketing Teams should ideally work together. A mutual agreement of a defined stage at which a lead would be handed over from Marketing to the Sales team increases the chances of better relationship building.
In order to build a winning lead nurturing strategy, companies must use multiple touchpoints for communicating with potential buyers. These touchpoints, once integrated will make interactions smoother with the customer. A report by Demand Gen based on the 2015 Lead Nurturing Benchmark Study indicates that only 49% of organizations include less than five touchpoints in their lead nurturing campaigns. So there is enough room for improvement here. An effective lead nurturing exercise as a business process is the fuel to a business in terms of revenue streams.
Both lead generation and nurturing are very sensitive processes. And it takes intense effort to convert a query into a qualified lead and finally into a paying customer. However, lead nurturing carries more weight than lead generation. This is because it directly focuses on customers that have genuine potential rather than just beating around the bush. Despite this, when businesses take both parameters hand in hand with befitting strategies, a lead that enters into the top of the sales funnel can be easily converted into a successful sales figure.
According to the same study mentioned above, 50% of marketers consider that increasing lead-to-customer conversation is their biggest challenge and their top priority. Thus nurturing your valuable business leads definitely needs a professional approach. So outsourcing it to an experienced partner will be a great business idea. For best results, the outsourcing partner should be a provider of outbound call center services.
Maxicus has been a reliable name in this prospect for more than a decade. We are serving as a trustworthy strategic business partner for several globally renowned brands. The team at Maxicus has gained expertise in both inbound and outbound support services, across digital as well as legacy channels. Find more information about how you can power your business’ revenue growth here.Categories: