Tuesday November 24, 2015
If you’re reading this post, there’s a good chance you’ve probably spent hundreds of thousands of dollars - if not millions - on generating leads. You know first-hand how time consuming, expensive, and challenging it is to make the most out of every new lead you acquire. And for high consideration products and services, lead acquisition has a higher cost, and prospects spend a longer time in the buying cycle.
For example, a prospect looking to buy a boat may spend as much as a year in the sales funnel, from aspiration, to intent, to the final decision or purchase. Wouldn’t it make sense to build a relationship with that prospect during the buying cycle, potentially making the cycle shorter and the prospect more familiar with your brand? Absolutely!
According to InsideSales.com, 35-50% of sales go to the vendor that responds first, making the first contact between you and the prospect a crucial element in your sales team’s effectiveness. A prospect’s purchase intent is all you need to start building the relationship, and the company who reaches out to the prospect the earliest has a much greater chance of making the sale.
Even if your brand is first to respond, you still need to develop ongoing communications that are relevant to your prospect’s interests. By exposing your prospect to brand and product communications, you have a better shot at winning the business over a competitor who is not nurturing leads effectively.
But how do you know if you are nurturing leads effectively? To help answer this question, we put together a short list of things lead nurturing is NOT:
- Calling leads every so often to see if they’re ready to buy your product, or giving them your sales pitch.
- Developing content for your entire database, expecting them all to interact and relate in the same way.
- Offering content that promotes your company’s products and services without properly segmenting or considering the specific interests/needs of a customer at each stage in the buying cycle.
- Emailing your lists inconsistently.
If you find yourself implementing these strategies, take a step back and start to think strategically about your customer journey and what touchpoints would be relevant to your prospects at each stage in the buying cycle. To help with this process, we recommend that you download The Ultimate Guide to Lead Nurturing. This guide will help answer any lingering questions you might have when it comes to generating and nurturing leads throughout the entire customer lifecycle.