After taking all the right steps for your business’s online marketing you finally have good, quality traffic to your business. You’re connecting with your target audience and creating awareness with potential customers. One problem though. Too much of your traffic is not converting. Statistics show that somewhere between 40 and 70% of leads are not ready to convert. YET! For business owners, this means necessary lead nurturing steps should be taken to maintain a relationship and make that conversion.
What is Lead Nurturing?
Lead nurturing is the process of building a relationship with your target audience through engaging and relevant content to create a sale. This process usually begins with the exploration part of the customer journey. When a potential customer is searching for a service or product you offer and they find your company, the lead nurturing process has begun. Everything that happens between your business and the potential customer from this point until the sale is complete is all part of lead nurturing.
Why is it important to my business?
There is a lot of information about how and why lead nurturing is important for business. But the bottom line is that it increases your sales. To elaborate, though, effective lead nurturing will reduce your cost per acquisition while simultaneously increasing your return on investment. Here are a few statistics about how lead nurturing benefits your business:
- Companies that prioritize lead nurturing generate 50% more sales at 1/3 the cost
- Nurtured leads make nearly 50% larger purchases
- Lead nurturing creates more loyal customers
How can I Improve my Lead Nurturing Strategy with Digital Marketing?
There are several actions you can take to make an effective lead nurturing strategy and your online presence plays a critical role in this process. A wide range of engagement activities from one-on-one interactions with customers to personalized ads lead to sales conversions. A successful strategy will use a variety of these tactics and digital marketing to engage your target customers in every step of the customer journey.
Beginning with awareness, your visibility online is the first step to reaching your target audience. A strong website is then necessary during the consideration phase to inform customers about your company. After this, retargeting ads and other forms of follow up work to increase the customers intent to purchase. Lastly, after the conversion is complete, the customer then becomes a champion for your brand. They can leave online reviews and speak to their experiences online.
Remember, it is crucial for companies to follow up with their leads in a way that is timely and professional. A strong digital marketing strategy will help you throughout the lead nurturing process and reach your business goals!