Lead Nurturing Strategy and the Role it Plays in Marketing
Your current database is a goldmine. By focusing on the leads you already have, you have the potential to apply the kind of strategies that will help you stay in front of your prospects and effectively engage with them throughout the entire sales cycle. This is the goal of a lead nurturing strategy – getting more leads to Sales by employing the kind of techniques that will help you produce more revenue without the need to acquire new contacts.
Working to identify what your prospects needs are and engaging with them using the right messages via an effective lead nurturing strategy, you will see that potential buyers, in turn, become more motivated to become Sales-ready; and this is when you can finally start to deliver more qualified leads to Sales!
By developing, deploying, managing and measuring programs that target specific audiences, CMOs achieve revenue growth by developing effective offers and working with the right audiences within the sales funnel to increase closing rates and speeding up sales cycle activities.
Incoming lead processing campaign
The definition of a Sales-ready lead has to be established between Sales and marketing. This is the first goal and determines which lead goes to Sales and which needs to get more attention and further nurturing. By defining a Sales-ready lead by demographic, BANT (budget, authority, need, timeline), completeness of data profile and lead score, you can determine which campaign to use, and where to send off a lead.
Incoming lead processing can also take into account establishing permission for nurturing. Give a prospect the opportunity to opt-in and start a relationship with you while giving them a chance to opt-out at any time.
Finally, allow prospects to customize a relationship with you. Ask prospects how often they want to hear from you and the channel of communication they most prefer – text, phone call, direct mail, etc. Let them customize nurturing communications by format and interest to establish their preferences on their own terms.
An accelerator campaign
Accelerator campaigns are used to accelerate the buying cycle with an effort to create a “nudge” according to specific prospect behaviors. The most popular method of doing so involves sending out a string of emails that are followed by a 14-day free trial sign-up. Prospects are enticed with step-by-step instructional tips such as ways to use the software with the option of making a request to be contacted.
By focusing on the conversion rate, you are able to define the buying process for consumers by creating a roadmap that works to get buyers from one pipeline stage to another until they have reached Won business. While prospects are shopping around to select the perfect vendor, marketers, in turn, are focusing on improving performance by measuring conversion rates and nurturing leads to strengthen marketing performance.