LEAD NURTURING

The Old Way

A prospect visits your website or responds to a direct mail campaign to get the free white paper. The prospect has self identified, so what do you do? Pounce? Treat them like they are the first prospect you’ve ever seen? Perhaps just wait. You don’t want to scare them off, right? The reality is neither of these behaviors is correct, yet 75% of all prospects never receive any follow-up after that initial self-identification. Most businesses do nothing.

It should be your nature to nurture:  But we’ve all been accosted by the over eager sales person – either by email, phone or in person. Most of us would rather walk over hot coals barefoot than have to endure the advances of a sales person when we’re not ready. And that’s just the point. Making a purchase decision is a process. Rarely are prospects ready to put down the plastic and sign after just a first look. And just as rarely does a prospect want to feel abandoned. The correct way to facilitate a prospect’s buying decision is by nurturing.

Nurturing is the practice of providing just the right amount of new information at each step in the buying process, giving a prospect what they need to know to comfortably take the next step or abandon interest. So how do you make it your nature to nurture? 

Nurturing Naturally

The best way to understand how to nurture a prospect is by understanding why people buy your product or service and how long it typically takes a prospect to make a buying decision. Using knowledge of why prospects make buying decisions allows you to understand what questions are likely and when those questions are most apt to be asked. Natural questions are: How much does it cost? How long does it take to arrive? Does it work together with my other software? Is there a warranty? What if I don’t like it? The week after a prospect receives the initial information about your product or service, they might be motivated by a follow up communication that proactively addresses some of the questions they’re apt to be asking. Another route might be to make a special offer in the nurturing communication, seeking to tap into everyone’s natural attraction to special treatment. Beware however, overusing the special offer can simply condition prospects to wait until they believe you’ve “bled” as much as you’re going to and can simply eat away at margins. The best nurturing programs continue to make the case for value and address questions that might be preventing a prospect from acting. Which brings up an important point: every nurturing email should have some call to action and provide a prospect with a means to opt out or take the next step.

Data Data Data

In real estate it’s location, location, location. In direct marketing, especially with new media, it’s data, data, data. Every communication, every landing page, every link, every opt out and every positive action is part of a mosaic that creates a picture of the way your value proposition, list, segmentation and marketing mix play in the market. Collecting that information and using it to support future decisions helps you improve conversions and ROI on your marketing. You may find for example that your list responds best on Sunday morning to email campaigns after they have received at least one direct mail piece in the seven days prior. Bingo. Now you know how to spend your marketing dollars to maximize response. Don’t send that email on Friday or Tuesday. Send it when your prospects signal their greatest interest. Lead nurturing is one of the best techniques for increasing conversions and improving your marketing ROI. Nurturing can be done by phone, through email, by text message or by good old snail mail. Experiment. You’ll find nurturing is the nature of good marketing.

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