New lead generation is the most expensive form of lead generation. It takes a lot of money and resources to generate new leads, and, for most small businesses, this money and effort is wasted because they spend so little time and effort following-up and continuing to take evolve those leads down the know, like, and trust path. Building a lead nurturing system will help to continue the relationship with prospects until they are ready to buy, and, in some cases, can even accelerate the buying process.
Lead nurturing, in its very basic sense, is the process of cultivating leads that aren’t yet ready to buy. As a business owner, it’s important to have a good understanding of the buying process your customers go through so you can understand how to build a nurturing plan.
The idea behind nurturing is to keep prospects engaged until they are ready to buy. In building a lead nurturing system, there are 5 laws you’ll want to follow for success:
1. Characteristics of the Ideal Client. It’s always important to understand a good deal about your ideal client, and not just the demographic details. The demographics are important, however, it’s also important to understand what your best clients value and how they behave because these are very important indicators in the buying process.
2. Understand the Buying Triggers. What happens that causes your clients to decide to move forward in buying your products or services? Is there something specific that has to happen before they will pull the trigger? For example, if you’re a wedding planner, the engagement process is trigger. In my business, my best clients are those that have tried to market on their own and then find out they really don’t have the experience, know-how and tools to make it work well. Knowing what these items are will help you develop and plan out your nurturing process.
3. Educational Content to Nurture. Nurturing requires that you have some educational content established so that as your prospects move through the process, they’ve got someone who can take them by the hand to ensure they know everything they need to know about your industry. The idea here is that continuing to educate your prospects allows you to cultivate latent demand by teaching them to make the best purchasing decisions.
4. Staying Top of Mind. A nurturing process should ensure that you and your company stay top of mind with the prospect as they continue to educate themselves until they are ready to buy. Without that nurturing of Top of Mind program, you run the risk of allowing a competitor to come in and wisk away the business.
5. Building a Client Experience. The nurturing process should already start to give the prospect an idea of what it’s like to work with you and your company. Use this process to start to build the client experience because it will only help you in building up that latent demand. This process can also be used to build strong brand loyalty long before a prospect is every ready to buy. You can start to develop some expectations so your prospects can anticipate what the experience will be like. Nobody talks about boring businesses so this is also a great way to get prospects to start talking about you even before they’ve committed to working with you.
Creating a lead nurturing program for your business will help to ensure that you’re not wasting the resources you’re spending on new lead generation. A solid nurturing program will help to close more deals overall and demonstrate how you can accelerate some of those opportunities as well.