While you think of closing a sale, your brand messaging also matters the most, as 60% consumers likely to make purchase decision based on it.
Looking forward to 2024 and beyond, it is evident that the nurturing of leads will become increasingly significant in boosting B2B sales growth. In fact, according to HubSpot Research, companies that have perfected their lead nurturing abilities rake in 50% more sales-ready leads at a cost that is 33% lower.
With our experience, Vereigen media has seen the results in B2B sales with lead nurturing. Here, I will try to explain why, and how? Lead nurturing plays an important role in 2024 calendar with some of our tested effective strategies which will help you turn your leads into revenue.
The Power of Lead Nurturing
Nurturing Lead means how does one develops a long-term relationship with a potential customer. To keep your business in your prospect’s mind, you can share valuable information through more relatable user centric content, offers can work too! This makes them build trust which eventually affects their purchase decision.
However, it is not only sending few emails; rather it involves creating a personalized multi-touch experience addressing each unique need and pain point felt by each lead.
Lead nurturing can boost sales opportunities for businesses by up to 20% as opposed to non-nurtured leads, as per the Oracle.
One thing to mention here is Timing! When are you approaching and percentage of active buyers in the market? Different sales cycles have different volumes of buyers and volumes of adding a new customer.
To understand this in a simple way, look below:
(Source: Speedwork)
In the Times of Informed Buyer
Being an Informed Buyer is good, but it can be an also add to the effort of your sales team. More than 67% of buyer’s journeys are now a part of digital platforms.
It means that when a lead contacts your sales team, they are already knowledgeable about your product, competitors and market place. They want a partner not just a vendor.
Lead nurturing allows you to build relationship and set foundation for future deal making with customers. You can count yourself as an industry trusted advisor and thought leader through provision of valuable content and insights.
Personalization and its Importance
Now that the marketing messaging has become so precise, it is so important how personalized impact you leave to cut through the clutter. Leads are likely to engage with content and offers that can resonate more with their need and wants.
According to Smart Bug Media, over 60% of consumers have confessed that they feel better about (and are more likely to buy from) a company that delivers customized content.
When you segment your leads based on factors such as industry, company size, and pain points, then it becomes easier for marketers to deliver more target specific content to the audience. And this includes everything from personalized email campaigns to customized landing pages or social media ads.
The Multidimensional Importance of Nurturing
It will require more than just an email to nurture a lead in 2024. It will be a matter of uniformed multi-channel experiences that follows your leads wherever they go.
By including other channels like social media, webinars and even direct mail, you can make the nurturing process more immersive and captivating.
This could include things such as:
Sharing blogs relevant to industry trends and news on LinkedIn.
Inviting leads to exclusive webinars and events.
Sending personalized direct mail pieces to your hottest leads.
Providing content from clients as endorsements of your message while building up your brand in the market place.
The secret lies in creating a uniform experience across all touchpoints towards building one’s brands image and value proposition consistently.
The Need for Measurement and Optimization in Lead Nurturing
Eventually, the measurement and optimization of lead nurturing will prove paramount. Some important metrics to keep track of are; conversion rates, lead-to-customer ratio, customer lifetime value, etc., allowing you to know what is working well and what isn’t.
According to the Online Marketing Institute, it’s not just about the leads, companies who nurture them well experience a 45% increase in lead generation ROI. However, you must show consistency in tasting and tweaking your strategies if you expect such results.
Some of these things could be:
A/B testing on different email collaterals and subject lines.
Finding out which channels or offers have generated the most engagement.
Asking your customers about their impressions regarding the impact they had on nurturing programs.
This way, you can be sure that your investment as far as lead nurturing is concerned is not going down the drain because it keeps getting better with time.
Final Thoughts
As we peer into the year 2024 and beyond, it is evident that nurturing leads will be central to success in B2B sales. You can get through all these by giving value, creating relationships and offering personalization across channels to convert more leads into sales.
However, lead nurturing is not a one-size-fits-all process. You need to have an in-depth understanding of your target audience, make available exceptional content and offers as well as test your strategies on a regular basis.
So why wait? The future of B2B sales has come; it has been powered by lead nurturing. Grab these tried-and-tested best practices today and see your pipeline fill up, close rates explode and revenue multiply in 2024 onwards for evermore. Lead nurturing investment time is now – are you ready for the take? Connect with us now!