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Lead nurturing

Lead Nurturing

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Lead Nurturing

For long-lead sales cycles of expensive purchases for consumers and businesses, lead nurturing is how marketing and sales work together to give prospects the information they need at the right time to accelerate the purchase decision process.  To reduce the cost of sales, it's  important to think through:

  • What does a salesperson need to do?
  • What can be done to help a prospect through non-personal selling (aka marketing)?

We're starting the conversation.  Share your advice and tips on lead nurturing. Read the tips others have shared on the tabs on this page.  The MarketingZone Editors use the best ideas shared by the community to continuously update and improve this article.

Tip

How to get lead nurturing done

 

  • Understand your prospects' education-to-purchase process
    • What key information do they need at each stage?  Who are their credible go-to sources?  How do they prefer to get information (in person, online, webinars, podcasts, email, direct mail, reports, white papers, seminars, events...)
    • This can be done through Market Research techniques like Online Surveys, Focus Groups, 1:1 interviews and Mystery Shopping.
    • Helping Customers at All Stages of Their Purchase Process outlines nine typical stages people go through when making a purchase. 

 

  • Determine how you will differentiate suspects, prospects and qualified leads
    • How to Determine Your Most Profitable Customers (so you can find more people like them)
    • How to Generate Qualified Leads

 

TIP:  Many businesses and non-profit organizations chase all leads/donors. Top salespeople don't do this. They ask questions and gather information to determine "who is most likely to buy," who are "hot leads" (will buy soon), who are people who may "possibly buy" and who are people who are "tire kickers." Many times marketing departments send "leads" over to salespeople and those "leads" aren't acted on because the sales people either don't trust that marketing has done anything to qualify the leads.  In small companies with small budgets and not enough time in the day to do everything, it's especially important to determine how you will classify people who may be interested in your product/service/company. The articles listed above will help you to do this. 
 
  • Develop your customer contact plan for marketing
    • Trigger Events that Indicate When Someone May Be Ready to Buy will help you as you develop your marketing contact plan and messages. When someone visits your website and requests a brochure, what type of communication should happen as a follow-up to that? Does the sales force need to be notified or is this something that marketing can handle (and automate) to send the person an email message three days later to ask if they have any questions? This email can also give them access to contact information for people, article reprints, third-party reports, tools, trade shows/events, etc., anticipating what they will want to do or know next (like get a price quote). 
    • How to Develop a Customer Contact Plan explains what's involved for marketing to set up a customer management system and process with appropriate messages for people at different stages of the purchase process. 
    • It's very important to have a Customer Database and to have fields in the database to identify if someone is a suspect, hot lead, prospect or whatever terminology you have come up with to identify and prioritize your leads. And it's very important to keep that information current. You do not want to be sending people inappropriate information nor investing in any type of marketing to people who are not qualified, or have chosen to purchase from a competitor. Your prospect database needs to be carefully managed and protected as a valuable asset.
    • Top Customer Database Suppliers

 

From our experience

From our experience:  All buyers are suspicious of companies that are selling to them. They prefer to get advice from objective third parties and people in their situation, who have gone through the purchase process and are experiencing what it's like to use the products/services. They can also find out how the company handles customer service issues through a third party. Companies can win more business if they act more like a third party and do a better job in marketing by getting rid of "marketing fluff" and offer more credible reports, information and advice. Here are some articles to help:

  • Writing for Marketing has all kinds of specific tips for words that work and how to ensure your marketing is credible.
  • Presenting Good, Better and Best Options is an effective way to help people understand the differences and trade-offs in your product line. This is what great salespeople do, isn't it? They listen to your needs and priorities and they present a few options and explain if you pay more, what more you get for that money. They don't present hundreds of options, nor do they say "This is the one! It will be perfect for you."  Buyers like to choose, but they want just enough choices that it's manageable.
  • Solution Selling is a marketing term for presenting a buyer with everything they need to buy to get something done.  For instance, if someone is interested in buying a spa/hot tub, they are thinking about how enjoyable it will be sitting in their yard looking at the stars soaking in their new tub. Solution selling is putting together bundles of everything to make their dream a reality. These are practical things like the spa itself, chemicals that will be needed, and a spa cover. The best solution sellers think like merchandising people creating a window display and include things like thick, terry cloth robes, plastic glasses and outdoor speakers. Many buyers will be so involved with thinking about all these accessories that they will accelerate their purchase decision and buy the spa (and a lot of these other things) from the retailer who offers everything they need and want.
  • Commercial printers who have invested in digital press equipment can do what's called VDP (Variable Data Printing) to create personalized brochures for individuals or different types of customers.  For example, some car dealers have systems set up for print-on-demand personalized printing. When a prospect looks at a car in their showroom and says they are interested in a red car with grey interior in a particular model, they can put in an order online with the printer to create and print a brochure for that customer that shows the exact car they are interested in with the exterior color and interior they like. This is sent to the prospect by the printer with a personalized letter from the sales rep.  Another example is when prospective students fill out an online form on a university website and indicate they're interested in specific majors and living arrangements. The college marketing department works with their printer to create different versions of brochures to be sent to students based on their answers.  Learn more about Personalized Printing and Personalized URLs (websites) that can be created as well.
 
  • Track, measure, learn and improve
    • The best marketers and salespeople are great at follow-up and continuous improvement. 
    • It will save you a lot of money in sales and marketing if you learn what doesn't work. For instance, assuming that sending an expensive four-color brochure to every person interested may prove to be a huge waste of money. But you won't know that unless you set up tests to send some people a direct mail postcard with information about a valuable report on your website they can download for free. Do you get a higher response for a lower cost doing that? What about inviting people to a seminar?  Sending a direct mail letter? Having someone call them? All these options should be tested, tracked and the ROI figured out to know what works best to convert suspects to customers most cost-efficiently. 
    • CRM stands for Customer Relationship Marketing. You'll want to learn all about this if you're interested in lead nurturing.
    • Top CRM Marketing Suppliers

 

  • Update your customer/prospect database
    • How to Manage Your Customer Database
 
 
Tip

What do you have to say?  And share?

The best tips about lead nurturing will likely come from people who work in your industry or specific type of business who have practical insights to share and from sales and marketing professionals with expertise in lead nurturing.  Give advice on lead nurturing.  Read what other people have shared by using the tabs on this article.  As more and more people share, this advice will become more valuable because you will be able to apply filters to find people in your specific industry and type of business. 
TIP:  if you're looking for a freelancer or company to hire to help you with lead nurturing, read the advice they've shared on this article. If they are interested in new business themselves, they will have created a listing and profile page that you can link to for more information about them. On that page, you can read all the advice they've given on MarketingZone and learn more about their particular expertise in different industries and specialized areas of marketing. 
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