By Brian Carroll
In a complex sale, most of the selling actually happens when the salesperson isn’t there. I know there’s a lot of emphasis on lead generation (that’s a good thing), but getting a ton of leads doesn’t mean that increased sales will follow.
Startling as it may seem, recent research (and even studies from 10 years ago) shows that longer-term leads (future opportunities), often ignored by salespeople, represent almost 80 percent of potential sales.
You can increase your odds of success by adding a lead nurturing program.
What’s lead nurturing?
Lead nurturing is all about having consistent and meaningful communication with viable prospects (those that are a “fit” for your solution) regardless of their timing to buy. It’s not “following up” every few months to find out if a prospect is “ready to buy yet.” Lead nurturing is about building trusted relationships with the right people.
Walking in their shoes
Consider the following concerns that are going through a potential customer’s mind before he or she makes a buying decision:
• How will this product/service help my company?
• We’re doing okay. Why do we need it?
• Is there another company out there that is better?
• Will their solution really work? Can they prove it?
• Is the company credible?
• Can we afford it?
Lead nurturing helps people find the answers to these questions and reminds them of the benefits of working with you. You’re creating value by giving them useful information in digestible, bite-sized chunks.
How to start lead nurturing
A typical lead nurturing program includes a series of letters, emails, voicemails, case studies, success stories, articles, events, white papers, and Web events that are meaningful to your potential customers. You’re providing relevant educational or thought leading content.
The tactics employed and the frequency of touches will depend on the solutions being sold and the buying cycle of the prospect.
Basic Lead Nurturing Plan
Below is a sample lead nurturing plan.
• Initial Contact Introductory phone call and follow-up “thank you” email
• Month 1: Third-party article on pertinent technology via email
• Month 2: Industry-relevant case study via email with follow-up call
• Month 3: E-newsletter with voicemail alert to check
• Month 4: Third-party article on pertinent technology via email
• Month 5: Relevant white paper via email
• Month 6: Targeted campaign via direct mail
• Month 7: Relevant ebook via email with follow-up call
• Month 8: Link to relevant podcast via email with follow-up call
• Month 9: Report via direct mail with follow-up call
• Month 10: Invitation to webcast via email with follow-up call
• Month 11: Call to invite to industry trade show and follow-up with registration link
• Month 12: Prospect calls you and becomes a sales-ready lead
When we create lead nurturing programs, we create different lead nurturing tracks based on demographic criteria such as size, industry, role in the buying process and more.
So what’s the ROI?
As a result of lead nurturing, companies will see more sales-ready leads, higher close ratios, a stronger sales pipeline and shorter average sales cycles. Clients who have committed to lead nurturing program find that they can sustain their production of qualified leads over the long term and build a much more predictable and sustainable sales pipeline. Perhaps more interestingly, another client determined that their nurtured prospects brought in nearly 100 percent more initial revenue than those that were not nurtured, and another client cited a greater overall positive impression of their company.
EDITOR’S NOTE: Brian Carroll will be a special guest in next week’s WhitePaperSource teleclass, and will discuss these topics in detail. Click here for more information.
About the Author: Brian Carroll is CEO of InTouch, Inc. and author of the popular book, Lead Generation for the Complex Sale (McGraw-Hill, 2006). Brian is also a leading expert in lead generation and he’s profiled and regularly quoted in numerous publications.
