Survival of the fittest. Lead nurturing for the win?
“Oh, you don’t do lead nurturing? Please tell me how your product sells itself.”
In the first part of this marketing mini-series, Soetkin talked about the myths and magic of marketing automation. This second part will dive deeper into the topic of lead nurturing. We’ll show you what lead nurturing exactly is and how you can implement it in your own organization. To top things off we’ll explore some use cases to get you started. No need to reinvent the wheel there, is it?
Learn to walk before you run; the how and why of lead nurturing
Soetkin concluded the first part with: “Marketing automation is the holy grail of lead generation”. A true myth unlike any other, but there can be some serious magic behind it! Marketing automation is considered as the best source of lead generation. Although you could generate more leads, this doesn’t mean you’ll close more deals… Sounds contradicting, doesn’t it? But why is this? When leads enter your sales funnel, most of them are still considered “cold leads”. This means they might be interested in your products or services, but they aren’t sales ready yet. So, this is where the magic comes into play. There are some “marketing automation spells” you may cast to grow their interest and get them warmed up for your offers! These come in the form of lead nurturing. Lead nurturing, put simply, is the magic to turn your newly generated lead into a sales qualified lead.
Education, education, education; or is there more to it?
As stated above, you should grow your leads’ interest. Sounds straightforward, but how can we achieve this? Are we going to blast them with emails stuffed to the limit with information? No, there is more to lead nurturing than solely educating your leads.
In fact, lead nurturing serves three main goals:
1. Retain permission to stay in contact
This is a vital part of lead nurturing. If you irritate your leads by engaging them too much with irrelevant information, you risk being ignored and potentially blacklisted. This results in a definitive loss, as you won’t have any way left to engage with them.
To properly educate your leads, you should push your key ideas first. Familiarize them with your company’s strong suits and your product’s advantages. Refrain yourself from delivering too much information too fast, as this could potentially scare off clients. The ideal situation is where you feed them little bits of relevant info that keeps your company’s offerings top of mind without becoming annoying! This also provides a feedback loop! As clients engage with your communication you have the possibility to learn and adapt your offering to their wishes and needs.
3. Monitor phases of the buying process
As your lead nurturing campaign progresses, so should your lead progress through the buying cycle. After all, the eventual reason for lead nurturing campaigns is to generate sales qualified leads and thus more sales. You need to watch out for signs that indicate that a lead is actually becoming a sales qualified lead. Examples of such signs can be: an increased number of page visits, downloaded content, attended webinars etc.
Talk the talk, walk the walk!
Everything I wrote above looks nice on paper. However, if it only stays on paper, it is no good for your organization. To really drive sales and convert your leads, you should put this knowledge into practice!
Last week, Soetkin introduced myths about marketing automation for lead generation. But, marketing automation also has some magic behind it that can be used for your lead nurturing campaigns. There are a lot of “spells” available today that make this process easy. One of those is the Pardot application. This is one of the most effective tools out there. Why? Simple, because it works! Pardot syncs with your CRM system and automates your complete marketing apparatus. It offers lead generation capabilities, lead nurturing options and segmentation rules to pinpoint different customer segments. Implementation of Pardot can be done fairly quick and easy, of course each user case is different and implementation time depends on your existing CRM setup. If you would like to know more about what this means for your organization, be sure to reach out to us!
A promise is a promise; some use cases to get you started
Practically speaking, how are we actually going to nurture leads? How do I practice what I preach? Well, I’ve already mentioned drip campaigns above. They are an amazing finding. I, as a recent adaptor, use it often as it is very intuitive to use and understand. You simply sketch out the path you want your leads to follow, and voila: relevant content is delivered to them at specific time intervals. Beware! This doesn’t mean you should trick yourself into the myth of “fire and forget”! As drip campaigns save a tremendous amount of time in executing your marketing campaign, it doesn’t attribute to its quality! Your marketing strategy itself should be well thought over and revised based on real results and key moments in your customer’s journey.
Below you’ll find 2 use cases of drip campaigns that can be implemented and make an impact in every organization!
1. Events campaign
Let’s say you had a booth at a convention and people could leave their contact information with you. Not everyone will be genuinely interested in what you have to offer. People that actually are interested, are most likely not sales qualified yet. This sounds like if it could use a drip campaign! Taking signing up at the convention as the starting point it could look something like this:
By doing so, you create different paths potential clients will automatically follow based on their interaction with your information. Whether your communication flows through mail campaigns or blog posts, it all gets captured. Your leads’ interactions will add to their “Lead score”, a measurement used to gauge how sales-ready the lead is. Once it passes a certain threshold, you can start doing business with them.
2. Upsell Campaign
Lead nurturing doesn’t have to confine itself to leads. Existing customers can be regarded as leads as well. Why, you might ask? Well, there is always the possibility to up- and cross-sell your other products and services. You can find a visual representation below.
By segmenting your existing clients based upon their already bought products/services you are easily able to create personalized drip programs. Here you can capitalize on the potential revenue that you already captured within your customer base. As you already know their preferences you have an excellent view on what other offerings they might be interested in. Doing so can generate a significant revenue boost.
Seize the moment and accelerate your business today by automating and tailoring your marketing activities. There are customers out there to be served and opportunities to be taken! What are you waiting for? Get out there and get a head start!