Lead nurturing, what does it mean?
We have all heard about lead generation and the majority of companies are doing different lead generation activities such as running Google AdWords campaigns, E-mail marketing actions etc. Everyone understands that to grow and to generate New Business lead generation is a must and generating 100 leads/month is good. But what companies often forget is to ask themselves: what happens afterwards to those 100 leads?
Nurture marketing or lead nurturing is exactly that. Focusing on nurture marketing is to really have a system, a process and a plan with specific actions in order to follow-up on these leads. Thanks to new technologies there are various tools out there that can be used for setting up an automatic communications flow with a prospect, to nurture the lead. The Sales & Marketing department design a path of automatic pieces of information based on certain criteria that supports the buying process of the prospect. The criteria are usually related to demographics, is this prospect big/small enough for us to serve, is this prospect within the frames of our main target? The other criteria are related to the behavioural of the process.
Answers to these questions could be the most important that the company needs to know where in the buying process the lead is and to set priorities depending on how sales ready the lead is.
How do I get the information? How do I do nurture marketing?
Getting the information can be done in different ways, for example by online surveys, email marketing campaigns and competitions. In order to find out the behavioural criteria we need to analyse the interactions between the prospect and the seller. This can be measured and analyzed by looking at the web statistics; number of downloads of documents such as Whitepapers and case studies or simply response to a campaign.
So in order to improve the conversion rates and get the maximum out of your 100 leads you need to focus on lead nurturing, having a well defined process where based on demographics and the behaviour of the lead specific/various actions take automatically place.
This is nurture marketing, making the leads “sales ready” for the sales team gather in the euros.