In our highly connected and insightfully customized world of consumer engagement, lead nurturing ROI programs are paramount to building long-term relationships with prospective customers and retaining the attention of existing ones. Well-planned lead nurturing strategies allow companies to interact with consumers throughout various stages of the courting process, tailoring the messaging they receive to their specific product or service needs. It offers a human element so your company stands out.
You’re probably wondering just how well this “courting process” really works. According to Inbound Marketing Agents IMA, nurtured leads make 47% larger purchases than non-nurtured leads and companies with mature lead generation strategies enjoy 9.3% higher sales, but it doesn’t stop there. Lead nurturing follows the prospect through the entire process and reaps benefits along the way. Not only will this strategy produce short-term results with new conversions, but it will also help retain loyal customers who begin to feel like they are part of your company’s “family.”
Still having trouble wrapping your head around it? The numbers don’t lie:
- Lead nurturing emails get 4-10 times the response rate compared to standalone email blasts reports Silverpop.
- Lead nurturing emails generate an 8% CTR compared to general email sends, which generate just a 3% CTR says inbound marketing powerhouse HubSpot.
- Companies that excel at lead nurturing have 9% more sales reps making quota states CSO Insights.
- Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads indicates a report from DemandGen.
- Companies that excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost and companies that automate lead management see a 10% or greater increase in revenue in just 6-9 months says a study by Gartner Research
Lead nurturing is driven by obtaining valuable customer data collected through various touchpoints. Once you have these insights they can be easily segmented and dissected to personalize your marketing reach, making it more likely your efforts will lead to a conversion down the road, and we’re not talking just one sale but for a long-time, loyal customer.
Personalization is Key
In a world where it’s becoming abundantly easy to explore products, services, and brands, that personal touch is essential when trying to woo over potential clientele. You must first get their attention. This can be done by engaging them with content and then nurturing the relationship along the way until they are ready to buy. Understanding your customers and their needs is essential to crafting a successful lead nurturing program and knowing what questions they’ll need answered well before they’ve asked them is the key to keeping them flowing through the sales funnel.
Makes sense, right? The best way of getting into the prospect’s pocket is by getting into their head. Making it personal makes it familiar, and making it familiar makes it a little easier. Even Ebenezer Scrooge loosened the purse strings once his story took a personal turn.
Making your campaign personal through lead nurturing can be the difference your firm needs. Investing in these strategies will provide the personalized experience proven to make a return on investment with increased conversions and customer loyalty.
But, sometimes even a through plan may need a little guidance based on experience and Millennium has just that. We’ve invested resources in vetting the top lead nurturing programs available and have worked through some highly successful strategies with our clients to help keep their sales funnel full and their customers engaged. See how a lead nurturing program can add that personal touch to your marketing and boost conversions by connecting with me, Kyle Mallinger, on Twitter or feel free to shoot me an email at firstname.lastname@example.org.