Lead nurturing meaning is a marketing term that refers to the process of engaging, supporting and building meaningful relationships with the business potential customers, by providing them with appropriate and relevant valuable content and information at every stage of the buyer’s journey.
The best way to nurture leads changes over time.
A method that was highly effective two years ago might not work at all today. Algorithms change. People get overwhelmed with messaging and learn to ignore certain channels.
However, not all leads generated by your marketing team are sales-ready, and while they might be interested in your product or service, they would typically have some questions, and concerns they need to be answered in order to move from the awareness stage to the decision stage, which is where lead nurturing comes to play.
Why is Lead Nurturing Important?
Did you know that 65% of marketers don’t nurture their leads? That’s a lot of missed opportunities left untapped. If you are having second thoughts, here are the 5 most important benefits of lead nurturing:
1) Generate higher-quality leads.
2) Increase average order value (AOV).
3) Reduce CAC.
4) Create more loyal customers.
5) Establish authority in your industry.
Furthermore, here are some lead nurturing statistics to back the above benefits of having a solid lead nurturing plan:
A) Nurtured leads make 47% more purchases than non-nurtured leads.
B) Lead nurturing emails have 4-10 times better response rate than stand-alone blast emails.
C) Companies with successful lead generation programs generate 50% more sales-ready leads at 33% lower cost.
D) 51% of email marketers say email segmentation is the most effective way to deliver a personalized lead nurturing experience.
E) Even qualified leads need nurturing. In fact, more than half of the respondents to our latest survey report that 40-70%+ of their qualified leads aren’t yet ready to buy.
What Percentage of Leads are Qualified but Not Ready to Buy?
To find out what lead nurturing tactics are most effective, we asked 31 marketers to share the methods they’re currently using to nurture and reengage leads.
In total, they recommended six lead nurturing tactics. These are the methods they’re using right now to effectively nurture and re-engage leads. Including: