Nurture Marketing: A Simple Guide to Nurturing Leads and Driving Conversions
Explore what is nurture marketing and how CRM software can help you nurture leads.
Nurture marketing is a communication strategy that places content in front of prospective buyers at various points in their customer journey. It involves proactively reaching out to leads and customers by providing valuable information before they ask for it.
The most accomplished nurture marketers skillfully listen to customers' feedback and customise services to fit their needs. This article will explore what nurture marketing means, some successful strategies, and how CRM software can help you nurture leads.
What is lead nurturing?
Lead nurturing is a multifaceted process integral to any sales strategy's success. It involves establishing and maintaining meaningful relationships with potential customers or leads as they navigate through the various stages of the sales funnel. The primary objective is to guide leads towards purchasing by providing them with pertinent and valuable information throughout their decision-making process.
This involves a targeted approach to content dissemination, including educational materials, product information, and personalised messages catering to each lead's specific needs and interests. The goal is to convert leads into loyal customers by promptly and effectively addressing their concerns, objections, and preferences, ensuring maximum satisfaction and retention. A well-executed lead nurturing strategy can significantly increase conversion rates, customer loyalty, and overall revenue as a result.
Why is lead nurturing important?
For B2B companies, it's crucial to understand that first-time website visitors are not mere casual browsers. They actively seek information and evaluate whether your product or service can provide the required solutions. These visitors are often part of a buying committee comprising five or more people.
Even if these visitors are still waiting to make a purchase, they will likely do so in the future. According to SiriusDecisions, 80% of prospects that sales teams deemed as "bad leads" purchased within 24 months. This underscores the need for businesses to implement a robust lead-nurturing strategy to capture lost revenue.
According to Forrester Research, lead nurturing has the potential to generate 50% more sales-ready leads with a 33% reduction in cost per lead if appropriately executed. Nurturing leads can significantly increase the value of resulting purchases, with nurtured leads leading to purchases that are 47% larger than non-nurtured ones. Therefore, we recommend that new leads are placed directly into a lead nurture campaign to keep them engaged and moving forward with minimal effort.
By creating content tailored to your customer's needs and interests, you can demonstrate your expertise in your industry and show them the value your products or services can provide. This can help you establish yourself as a thought leader and build trust with your audience over time. In addition to these benefits, lead nurturing can help you reduce customer acquisition costs by targeting the right people at the right time.
Once you stay at the top of your prospect's mind and provide them with helpful resources, engaging copy and useful information, you can increase the likelihood that they will choose to do business with you. Overall, lead nurturing is a powerful tool for any business looking to grow its customer base and increase sales.
What are the most effective strategies for lead nurturing?
The most effective strategies for lead nurturing are:
Let's see how each of those works.
1. Email Marketing
Fifty-five per cent of marketers believe that email marketing generates the highest return on investment among all digital marketing strategies. Even though it is one of the oldest marketing channels, email marketing is still incredibly cost-efficient, with 3800% ROI on average in Europe.
Regarding email marketing, It is good to know that you can target leads more efficiently with email segmentation or dividing email subscribers into smaller groups based on different parameters.
For example, suppose your company has produced an e-book. In that case, you can send it exclusively to subscribers who have engaged with prior e-books or comparable content. You can create more personalised and impactful communication by analysing their browsing history, downloaded content, position in the sales funnel, email engagement, and other essential factors. Pay attention to the importance of email segmentation in maximising your marketing efforts. To do this, CRM software can be beneficial as it has options to automate sending emails, schedule emails and help create easier follow-up processes. It also has, in many cases, the ability to analyse how successful the campaign is so that you can adapt your campaigns.
2. Content Marketing
It is indisputable that content marketing remains a favoured strategy among marketers, with a staggering 97% of them utilising it in their campaigns. However, only 3% of consumers make the final purchase despite generating leads through content.
This indicates a significant gap between lead generation and conversion that demands immediate attention. Lead nurturing is crucial in any content marketing strategy. It's the bridge that takes you from generating leads to converting them into loyal customers.
However, more is needed to focus on nurturing known leads. You must take a broader approach to succeed. Try to include lead-nurturing content in searches, ads, social media feeds, and inboxes. Cover all bases with personalised content that resonates with pain points of your audience. Help them ask themselves if you are the one who can solve problems. This is not easy, but it is the only way to reach potential buyers and turn them into lifelong customers.
3. Social Media
The power of social media platforms is undoubtedly one of the most efficient ways to cultivate leads. One effective way to establish a solid and enduring connection is to interact with your intended audience and furnish them with pertinent, beneficial material that aligns with their interests and requirements. It is crucial to capitalise on the inherent advantages of social media, follow a systematic approach, and apply industry-proven best practices to ensure optimal results.
For maximum impact, follow these tips:
Provide informative, helpful, and relevant content to your audience.
Consistently post at the same time each day to build trust and familiarity.
One way to connect with your audience is by responding quickly to their comments and messages and fostering discussions.
Utilising analytics to gauge your success and adjust your strategy is crucial.
Just look at how successful companies have used social media for lead nurturing. HubSpot shares valuable content, engages with followers, and promotes webinars. Zapier provides tips, shares customer success stories, and promotes events. Buffer shares blog posts, engage with followers and promotes products and services. Feel free to pick up those ideas and adjust them to your product and the needs of your audience.
4. Align all Marketing, Sales and Support Teams
The process of nurturing leads involves the seamless cooperation and coordination of the sales, customer support, and marketing teams. By pooling their knowledge and resources, these teams can gain invaluable insights into the needs and preferences of potential customers and work together to provide tailored solutions that meet those needs.
This collaborative approach helps build stronger relationships with customers and enhances the overall effectiveness of the sales process. It doesn’t have to be a mandatory call in which no one will speak. Sometimes, simple, fun activities and chatting about customers can create great ideas.
5. Conducting Surveys
Your conversion rates depend on how well you understand your leads and customise their journey from the moment they become your prospects. It's also important to consider where a given lead is in the customer journey. For example, if they found your blog via organic search and expressed interest in educational content, they're likely still waiting to learn about your product. In this case, nurturing them with educational content rather than promotional content is better.
Surveys are an effective way to gather information about your leads and use it to your advantage. If a prospect shares that their biggest challenge is the lack of CRM, you can market to them effectively and provide content related to CRM tools. You can use surveys to gain a wealth of information about your prospective customers, which is why it's crucial to have a survey tool that's natively integrated with your marketing automation platform.
Again, those surveys can be placed somewhere on the website and shouldn’t be too long. You just need to ask the right questions and ask for truthful answers that will help them improve their experience.
6. Leads Scoring
Lead scoring is valuable for businesses looking to maximise their sales productivity and ROI. By analysing leads based on behavioural and demographic factors, companies can better understand which potential customers will likely convert and focus their efforts accordingly.
This approach saves time and resources that might otherwise be wasted on less promising leads. Businesses can improve their marketing success by targeting more effectively. Whether you're a small startup or a large enterprise, lead scoring is essential to any successful sales strategy.
Setting innovative scoring ranges is essential to avoid random scores for different criteria. Setting ranges helps your team see the stage of leads. For instance, a scoring benchmark of 60 might indicate that contacts with scores of 60 should be sold immediately, while 50 and 40 might be for researching and contacts on your radar, respectively. A benchmark of 50 may represent contacts more likely to become leads, while a measure of 40 may indicate contacts requiring more attention to convert. Identifying the most qualified leads without innovative scoring ranges can be challenging.
7. Following Up
After a customer purchases your product or service, it's crucial to continue to lead nurturing as they are likely to spend three times more than one-time customers, according to a report from the e-commerce marketing platform Yotpo made in 2015. After a customer purchases your product or service, continuing lead nurturing is essential to encourage repeat business. According to a report by e-commerce marketing platform Yotpo, returning customers will likely spend three times as much as one-time customers.
What is nurture marketing?
Nurture marketing is a broader approach encompassing various strategies and tactics designed to engage and build relationships with existing and potential customers. It exceeds the immediate focus on leads and includes the entire customer lifecycle. Nurture marketing involves creating meaningful and ongoing customer interactions through personalised content, customer support, loyalty programs, and other initiatives. The goal is to foster customer loyalty, repeat business, and advocacy, not just focus on the initial sale.
That is why it is of utmost importance for businesses to create a comfortable environment for potential customers before initiating any form of communication. The significance of nurture marketing cannot be overstated, as it is crucial in establishing credibility and trust by showcasing experience, capability, relevance, and customer retention. Businesses prioritising nurturing marketing will likely enjoy long-term success and positive customer experiences.
Differences between Nurture Marketing and Lead Nurturing
In the marketing realm, two related but distinct concepts exist: "nurture marketing" and "lead nurturing". While lead nurturing concerns itself with directing leads through the sales funnel to make a purchase eventually, nurture marketing takes a broader, more comprehensive approach. It prioritises the cultivation of meaningful relationships with both existing customers and prospective leads, with an emphasis on building long-term engagement and loyalty.
How can your business use Nurture Marketing?
Nurturing prospects to buy your product or service requires a detailed structure that designs every available customer path based on all possible actions. The appropriate marketing automation platform can make a substantial impact on developing a relevant nurture campaign that is persuasive but not intrusive and that progresses into more frequent communication centred on product benefits and personal interactions.
Segmenting leads based on their interests ensures that you won't reach out with the wrong message, leading to disinterest or loss of sales. Nurture marketing can be used as a platform for conversations with leads and customers, addressing minor issues before they become major setbacks. Nurture marketing provides opportunities to engage with leads and customers by asking questions about their challenges, concerns, and business needs. Honest answers can prevent minor issues from becoming major setbacks.
How can Really Simple Systems help you nurture your leads?
To help you nurture leads effectively, our team has developed advanced Lead Management Software. This software offers comprehensive solutions for all stages of your sales process, from the initial inquiry to closing the deal. It lets you easily customise data fields, segment contacts, and cultivate customer relationships.
Never again worry about repetitive tasks, as this software automates them for you. Create and enrol contacts in email campaigns with effortless ease. Gain valuable insights into your leads and sales pipeline through robust reporting and analytics. Take your sales game to the next level with this powerful tool and see your sales soar.
Igor Krivokapic is a freelance content writer with a passion for social media and brand management. With over ten years of experience, Igor possesses a diverse content creating history including sales and marketing topics in the technology sector.