Industrial Marketing Blog

5 Reasons You Need a Lead Nurturing Strategy

Posted by Brian Shanahan on Oct 15, 2017 2:38:45 PM

Content marketing isn’t just a buzzworthy phrase tossed around to impress. In fact, it’s not a buzzword at all. Content marketing is a solid methodology to boost brand image, generate leads and increase sales. Let’s talk for a minute about the leads aspect of it and 5 reasons why you need a lead nurturing strategy.

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1. Develop Radar on Prime Prospects. Typically, industrial and manufacturing prospects are quiet, preferring to do their own research and make buying decisions when they are satisfied that they have exhausted all available information. So how do you get in their line of sight and to the head of their preference list? It’s all about sharing appropriate information and then nurturing leads through solid relationship building.

2. Build Trust First. Consistently communicating with prospects is the best way to tell your story. As you share content at a measured pace—not too often and not too frantic—readers will appreciate your professionalism and expertise and come to rely on you as a professional resource. Slow and steady will win this race so show prospects that you’re going the distance and they’ll reward you in kind.

3. Not Every Lead is a Keeper. Who doesn’t get excited when their website gets a flurry of hits or their social media activity spikes? It’s best to keep this in perspective, though, because not every website visit or like comes from a potential customer. You could be experiencing a rush of people doing research, or perhaps you’re getting traffic due to something one of your competitors has done and people are now curious about you too. Keep your eye on legitimate prospects and try to be discerning about leads (i.e. lead quality) which are simply lookers and those that have real potential. When you invest time and money chasing down phantom leads, you divert important resources from profitable activity that could be generated from nurturing more appropriate prospects. Lost productivity for sales as well as wasted marketing costs cost businesses at least $1 trillion every year when leads are not properly nurtured.

4. Keep Marketing Costs Down. Even though digital marketing costs tend to be lower than more traditional forms of marketing, there are still expenses involved with content creation, distribution, follow-up, etc. Maximizing the content you currently have available will help keep a lid on expenses. Think about repurposing content by white papers and case studies into blogs by segmenting the information into more digestable chunks. Conversely, you could expand basic product or service information into more extensive media such as videos and webinars. When you have a good inventory of content, you can share in various channels, and your efforts will have a better return than if you had proceeded with a blast approach.

5. Nurtured Leads Make 47% Larger Purchases. OK, we’ve saved the best until last. Nurtured leads result in bigger sales. The sales cycle for industrial and manufacturing products can seem like marathons anyway, but studies show that staying the course and nurturing appropriate prospects can produce remarkable results. When nurtured leads close, they end in almost 50% higher sales as opposed to those that closed but weren’t nurtured.

Creating and maintaining great relationships is still the key to better sales and long-term customer loyalty. Just think of a lead nurturing strategy as an initiative in authenticity and an important aspect of relationship building. Prospects get an initial look at what you have to offer and then decide to build a relationship based on your solutions for them as well as the way you interact with them and take care of what’s important to them. You’ll cultivate long-term loyalty from customers who rely on you and trust that you have their best interests at heart. And that’s about as authentic as it gets. Just don’t forget to nurture.

Need help evaluating or executing a more successful lead nurturing strategy? Schedule a short consultation call to discuss your goal, concerns and how we might help improve your results.

An introduction to B2B lead nurturing for industrial companies

Topics: Lead Nurturing

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