You have a whole slew of leads. But do you know what to do with them? This is the dilemma facing many businesses in today’s modern world of limited attention spans and information overload. The relationship between business and buyer is not always a simple one. Far from it, in fact.
44% of marketers cite measurement for demand generation initiatives as their top priority for 2021.
Even if your brand is able to stand out from the regular inbox clutter and get noticed, actually managing to turn a lead into a sale is a multifaceted process. This is where lead nurturing simplifies things. Read on for four keys to keep in mind when nurturing leads, as well as potential pitfalls to avoid.
Key #1: Understanding the Complex Sales Cycle
Effective lead nurturing begins with understanding your sales funnel. This will help you distinguish the point of the cycle your leads are in, score them based on how they fit within your business objectives and how likely they are to convert, and reduce your guesswork when creating targeted marketing content.
- Upper-funnel: These consumers may not even be aware of your business. If they are, their awareness is minimal. Something as simple as an easy-to-find “about us” page or a clear company narrative can further entice potential buyers and inspire action.
- Mid-funnel: This is a crucial step in your lead nurturing process, as potential buyers have different needs and wants. Focus on what makes your brand unique and continually test and refine your message by analyzing your customer and prospect data.
- Lower-funnel: The consumer has usually made up their mind and is ready to purchase. This is where the groundwork for a solid business relationship is established, so make sure the purchase interaction is smooth and efficient as possible.
Post-purchase emails, rewards programs, referral programs, responsive customer service, and user-generated content are all ways to keep your customers happy and coming back for more after they reach the end of the funnel. Constant vigilance of this process is essential for lead generation and the creation of long-term business relationships.
Key #2: Focus Your Content
Lead nurturing is not a “one-size-fits all” strategy. First, you need to take an in-depth look at your buyer personas. A buyer persona is essentially a profile of your target customer that focuses on who that person is and why they’re looking at your brand’s product or service. Their needs, expectations, and goals are laid out to form an accurate analysis of your potential customer.
Once you understand your personas and what information your customers want readily available, you can begin building your content. Focus on answering the tough questions your customers have brought up. Content that is educational or focuses on the transparency of your business goes a long way in the lead nurturing process.
Key #3: Nurturing Goes Beyond Email
Although traditional lead generation relies heavily on email campaigns, lead nurturing has expanded into myriad different directions. The sheer volume of clutter plaguing most inboxes makes it hard to stand out. Whatever intimacy was once associated with email correspondence is done for.
Emails can be an effective, important tool for jumpstarting the lead nurturing process, but there are more components to focus on if you want to see positive results on a holistic level.
- Social media: Social media is a great tool to help build lasting relationships with leads. A well-timed and well-targeted campaign can be the final kickstart for your business relationship. Even those who don’t know your brand can learn a lot through a well-planned social media campaign.
- Segmented remarketing: Retargeting strategies have proven effective in generating new leads and lasting customers. Taking a proactive approach to establishing connections with buyers who have shown interest but fallen out of the funnel is a smart business move. Instead of relying on email as a broad-reaching Hail Mary, try retargeting prospects who didn’t convert the first time.
Key #4: Invest Time in Analysis
There are fundamental metrics to consider in any lead nurturing campaign, including:
- Open and click-through rates (with email campaigns)
- Subscribe, like, and unsubscribe rates (with social media content)
- Click-through rates (with targeted paid ad placements)
- Conversion rates (on a website call-to-action)
Nurturing leads isn’t a perfect science. Changing marketplaces, business structures, location, and more all play into how your specific business generates leads, and there’s never going to be one final, correct answer.
Maintaining relationships with potential buyers is difficult without knowing where to improve. This is precisely where analytics can make a world of difference.
The best way to cement the proper lead nurturing practices is to measure your performance. These metrics can change based on business and product, but industry standards should provide a stable benchmark by which to judge valuable metrics.
Lead Nurturing for Growing Ecommerce Brands
Successfully nurturing your leads requires patience and some trial and error, but creating lifelong customers and strong lead relationships is a sustainable practice for a long-term business. It’s not just about reaching shoppers – it’s about guiding them and facilitating the experience they crave. Even when current practices are converting well, they can always convert better.
Don’t be afraid to test the waters, and always be focused on where you can improve. If lead nurturing and lead generation are important focus areas for your company right now, our team of proven digital experts is prepared to help. Send us a message and one of our team members will reach out to share answers, insights, and opportunities to put your brand on the path to profitable growth with your lead strategy.