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What is Lead Nurturing and Why is it Important?



December 1, 2020

We thought you would never ask! This is part 1 of a 2-part series on lead nurturing written through the eyes of CoPilot AI.

Lead nurturing is the important task of developing and nurturing business relationships with potential prospects or buyers at every stage of the buyer journey. In other words, it’s the act of staying in touch with your prospects through follow-ups, relevant content, and check-ins.

Why is Lead Nurturing Important?

Lead nurturing helps professionals increase their chances of maintaining relationships with prospects who might not be ready to make a purchase or commitment now, but could be ready in the near future.

In most cases only a relatively small percentage of your inbound leads will be ready to make an immediate purchase, leaving upwards of 90% of your inbound leads on the table.

Some simple examples of nurturing include:

  1. An eCommerce store that sells clothing might send an online shopper an email to follow up with a discount if they visited their website, went to the checkout page, but didn’t buy the item.
  2. A SaaS (Software as a service) company might provide the opportunity to download an eBook in exchange for an email on their website. With the email, they might send out another blog or customer case study to help guide the prospect on their purchasing journey.  
  3. A Consultant or Advisor might speak to a potential client over the phone to understand their needs, but a deal is not signed. The Advisor might email them a month later with a new industry report, giving them more confidence in the thought leadership the Advisor could provide if they were to partner with them.  

These are all simple ways that businesses can nurture their leads through the buying process, but let’s break down some tips for nurturing your prospects into a little more detail.  

1) Provide value

You might have noticed in our examples above, one of the most successful ways you can nurture your leads is to deliver them content that helps them progress through their specific buyer journey.

Whatever way you reach out (email, social media, messenger tools or phone calls) you need to provide information that helps them address common questions or concerns they might have about your product or service. Content such as thought leadership, articles, blogs, customer case studies or webinars are great ways to show your value to your prospect in an ongoing manner.

2) Make your outreach automated

Automating your nurturing strategy is one of the best ways to allow for scale. Obviously, it depends on the type of business you run and the service or product you provide, but investing in a software tool (shameless CoPilot AI plug) is one of the simplest ways to increase the likelihood you will generate some success.

Not to mention, automated tools are great because the odds of converting a prospect into a sales opportunity increases when there is a timely follow up. It’s a numbers game, and the more people you can add to your well oiled nurture machine, the better results you will see.

3) Be as personal as possible

Sure, you’re probably thinking “didn’t’ they just say make your outreach automated’? Well yes. But using automation doesn’t mean you’re giving up on personalization.

The key to a good nurture strategy is knowing WHO you’re key prospects are and WHAT they’re interested in knowing. If you can crack that, your nurture messages can be personal to the step that prospect is on in their buyer journey. Take it from one of our happy customers that was able to use automation without sacrificing personalization here.

Maybe you just met them or maybe you’ve known them for a year, but they still haven’t converted to a sale, either way as long as you can categorize them at some capacity to WHO and WHAT, your automated outreach will seem personal to them.

4) Align your team on the outreach

Nothing is worse for a prospect journey than being reached out to, multiple times, by a different person than they originally talked to. Even if it’s done on purpose, this is a mistake that could cost your sales and marketing teams a good sales opportunity.  

Gather your team and have a brainstorm to discuss the possible journey your prospects are going on now, and what the ideal state could be. Make sure you include both sales and marketing functions as the sharing of common problems prospects are looking to answer will help to form the most comprehensive strategy. A good nurturing strategy has everyone on board and bought in before it’s launched.  

Check us out in a couple weeks where we will showcase some tested messaging examples of a good nurture strategy and why they work so well!

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