The Top 8 Benefits of Lead Nurturing
Lead nurturing as a marketing strategy has lots of benefits. It is already seen worldwide as a genius technique that enables the marketer to increase the number of sales he/she makes in a given period. Here’s our top 8 benefits of lead nurturing:
1. Lead Nurturing is Timely
Unlike random email distribution, lead nurturing is timely. It responds immediately to the potential customer and does not waste any time in establishing a relationship. When a customer sees that the company is so interested in developing a relationship with him, there is increased motivation to do business with that company leading to increase in the company sales.
2. It Can be Automated
You do not have to manually track the lead. All you have to do is set up the automation and the system monitors what the lead is interested in, giving you detailed reports and continuing to nurture them without you having to lift a finger.
3. It Helps You Maintain and Grow Relationships
Automated lead nurturing affords you the opportunity to not only maintain the relationship between your business and the lead but It also helps you to increase this relationship. Thereby leading to a potential increase in the likelihood of converting your prospect into a customer.
4. It is Targeted
Lead nurturing does not just provide random and unnecessary information to the lead. Rather it monitors the lead and provides targeted content that they are interested in.
5. It Can Lead to New Leads!
It is true that lead nurturing only manages existing leads but it can also lead to new lead generation. Happy customers talk about good (and bad!) experiences they have with companies and word of mouth and referrals are one of the most effective ways of generating new leads. If your content is shareable and interesting, your leads are likely to share it with others with similar interests, leading to a new prospect for you to engage with.
6. It Saves You Money
Automated lead nurturing is cheaper than direct email messaging. It helps to save the money you spend on keeping up with your potential customers. So coupled with all the above benefits, automated lead nurturing is cost effective. This is because it is largely automated and you do not need to hire so much human resource to maintain it.
A statistical analysis of more than 2,400 companies was carried out using mass email marketing or lead nurturing and it was discovered that the lead nurturing approach enjoys higher click-through rates. It was seen that lead nurturing emails also had a slightly higher unsubscribe rate than individual email sends. This can be seen as a negative performance, but it actually is an indicator that lead nurturing is doing its job of confirming leads and removing people who are not willing to do business.
8. It Helps You Discover Cross-Sell and Up-Sell Opportunities
When dealing with past customers, lead nurturing offers a way to increase that customer’s awareness of what your company offers. A study found out that nurtured leads have a 9% higher average deal size; this means that there is a potential to not only increase the number of sales you have but you can also increase the value of sales using lead nurturing.
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