All experienced marketers know that inbound leads are the most likely to part with their money. But not all leads are ready to do so immediately. In fact, upwards of 90 per cent will choose to wait a while before finally deciding to take the plunge with you.
90 per cent is a large proportion, so it’s critical that your company has a well-defined strategy to nurture these customers effectively.
Score Your Leads
Not all leads are created equal. Some will take up a lot of your time and fail to net you much cash, while others will behave perfectly, providing you with a lot of money to boot.
Determining where customers fall on the value spectrum is as much an art as a science. But according to MarketingSherpa, around a fifth of companies already practice it to some extent. Scoring leads by the value that they represent offers numerous advantages, allowing your marketing teams to dedicate more time to the highest-value clients. Think about how you might score a potential lead based on income, company size, number of potential orders, contract longevity and so on, and try to come to an estimated monetary value.
Personalize Your Emails
Once you’ve met a customer, it’s a good idea to personalize your communications with them. They want to know that you’re able to deal with them on a one-to-one basis. Generic communications are a big turn off, so avoid them whenever possible.
How can you personalize emails effectively? Aside from beginning them with your customer’s name, also try to assuage their concerns about buying your product. A customer may have said no the first time around because they were worried that your product might not have a particular feature that they wanted. Use emails as a tool to educate your customers in a way that overcomes their objections.
Every digital marketing agency knows that well-timed follow-ups are crucial for business success. The Harvard Business Review, one of the most scientifically-savvy publications available, says that slow response times is putting many US companies at a disadvantage. Data suggests that lead conversion is most likely between 5 and 30 minutes after initial contact with a firm. Although automatic emails play a role, the current state-of-the-art is still an old-fashioned phone call to your customer. B2B customers, particularly, need to talk to a human on the other end of the line to make sure that products meet their specifications.
Keep Touching Base With Leads
Research reported by Hubspot suggests that leads need around ten interactions with a company before parting with their cash. But, that the average company only provides five interactions. That’s a significant discrepancy and might be part of the reason why so many companies fail to convert effectively.
Ideally, companies need to have a good template of the buyer’s journey and understand the psychological roadblocks getting in the way of them making a purchase along the way. Use emails, blogs, podcasts, and educational pieces on your website to overcome these potential stumbling blocks.