14 Aug Jargon Buster – Lead Nurturing.
Jargon Buster – Lead Nurturing.
From YMG – The Award-Winning Digital Marketing Agency in Chelmsford, Essex.
Here at YMG, we’re all about helping businesses reach new heights. The heights that hard-working business owners deserve. But sometimes, the terminology used within digital marketing can be complicated. This is why we created the Jargon Buster series.
Well, that, and in the immortal words of Ray Parker Jr. “Lemme tell ya something, bustin’ makes me feel good”.
…ok, I’ll just get into it now. Lead nurturing! Here’s all you need to know:
What Is Lead Nurturing?
By now, you likely know that Jargon Buster is a series that gives you all the information you need, whilst cutting out the faff. But, if you’re in desperate need of ultra-quick info, here it is:
Lead Nurturing is the process of increasing a lead’s probability of converting into a sale or client.
Now, if you’re here to learn, rather than to get a quick fix of an answer, let’s go a bit more into detail.
Unlike lead generation, lead nurturing is a technique that gently reminds a lead of their interest in a service or product. Keeping contact between your business and a lead will build a relationship over time. The stronger the relationship, the higher the probability becomes of conversion.
Imagine it like nurturing a plant. Sure, it can grow by itself. But sometimes they won’t survive on their own. So, what can you do? If the planted seed is the lead, and the fully-grown plant is the converted sale, how do we get the planted seed to that point?
We nurture the lead. Just like we’d nurture the plant.
But no. We’re not telling you to feed your leads and potential customers plant food. That may give your business a bit of an odd reputation…
But if we’re not feeding our leads plant food, what do we do?
What Are Some Examples of Lead Nurturing?
The most common form of lead nurturing comes in the form of emails.
These emails are carefully structured and created in a way that encourages a lead to convert. Reminding a lead about an item they’ve shown interest in or suggesting related items are the norm. Added with a Call To Action (CTA) is the general formula for a basic lead nurturing email.
Another example of lead nurturing can include dynamic or retargeting ads. Being quick and responsive on your business social media accounts is another way to nurture your leads. Even as simple as answering any questions or queries your leads may have will help. To learn more about social media management, click here.
The digital marketing industry is ever-changing. Because of this, businesses are having to stay on their toes with their lead nurturing approach. As it’s not uncommon for leads or potential clients to back out if they can tell they’re being nurtured. So, be sure to make sure your lead nurturing campaigns are carefully structured and constructed. After all, lead nurturing is about the long game.
What Benefits Does Lead Nurturing Bring My Business?
To ask yourself what benefits lead nurturing brings to your business is to ask what benefits a sale brings.
Yes, it is that simple.
When your business commits to a lead generation campaign, a very small amount of the leads it attracts will convert instantly. The lead nurturing campaign works to gently remind those that don’t convert their initial interest. Or it can highlight similar products of services from your business that may also interest them.
Some reports claim that using lead nurturing converted 15-20% of the “not ready to purchase” responders into customers and sales. DemandGenReport report that ‘companies that excel at lead nurturing generate 50% more sales leads at 33% lower cost’.
So, what benefits does lead nurturing bring to your business? Sales, trust in your customers, higher sales, and more.
What Type of Business Can Use Lead Nurturing?
Due to the nature of lead nurturing, any business can use it. The difference is how you approach it.
Some business owners are solely focused on money. Making money by spending the least amount and getting there the fastest way. But lead nurturing is not about immediate sales. It’s a process that cares for the customer/lead and works to convert over time.
If you’re a business owner that appreciates long-term success and sales, then lead nurturing is for you. If you’re only interested in short-term and immediate financial gain, then this is not a technique for you.
Can I Create a Lead Nurturing Campaign Myself?
Of course, there’s no stopping you from creating a lead nurturing campaign for yourself.
As we’ve discussed previously, it must be carefully constructed and designed. There is a fine line between nurturing your leads and pestering or annoying them. Because of this, we suggest that you contact a digital marketing agency to construct a lead nurturing campaign for you. They can often be paired with a lead generation campaign if you don’t already have one in place.
To contact us about how we can create a lead nurturing or lead generation campaign for your business, click here.
If you’ve done the human thing and scrolled straight to the bottom, hello. You’ve not taken advantage of what YMG’s Jargon Buster has to offer.
If you have read this blog from top to bottom, good on you. Hopefully, you’ve learned something because knowledge is power.
Anyway, I digress. Let’s debrief on the subject of lead nurturing.
Many businesses use lead generation, but more ambitious businesses use lead nurturing. As they understand the importance of this process. It’s a process that builds trust and relationships with your potential customers, rather than looking for a quick buck. The businesses with the trust of their customers are the ones that will still be trading long into the future.
For more helpful and relatable information on the world of digital marketing, check out more blogs in the Jargon Buster series. Some of our most popular blogs include one’s on Bounce Rates and Landing Pages.
YMG are an award-winning and full-service digital marketing agency based in Chelmsford, Essex, and home of the Jargon Buster series, helping business owners to understand the technical terms of digital marketing.