Lead Nurturing is About Relationship Building not Selling
Can you guess what is common among all popular, growing, and leading brands? They all focus on nurturing their leads so that they can build trust-based and long-lasting relationships with their customers. That’s right; to run a successful business, it is crucial to focus on customer relationship building rather than selling. And for this you need to invest in a solid lead nurturing strategy.
Lead nurturing allows your business to attract, connect with and convert first-time customers into long-lasting customers by winning their loyalty. With an ever increasing base of existing customers, you can significantly lower your business costs and increase your profit margins.
This is clearly evident from the fact that customer acquisition costs a business 5 times more than customer retention. Also, studies also suggest that a 5 percent increase in customer retention rate can boost business profits by nearly 25 to 95 percent. And there is more; the success rate of a product/service selling to an existing customer is 60 to 70 percent, while it is only 5 to 20 percent in the case of a new customer. So, that really gives us a clear picture of how lead nurturing can work towards contributing to the long-term success of a business.
Tele-Based Marketing—the Best Approach for Lead Nurturing and Building Long-Term Customer Relationships
When it comes to lead nurturing, successful business owners in different industries opt for tele-based marketing along with digital methods. Studies show that 68 percent of B2B sales involve human interaction, such as tele-based marketing. And nearly 60 percent of the marketing managers of Fortune 500 companies consider tele-based marketing as an effective strategy for lead generation and nurturing. Also, 70 percent of the sales are generated from human interaction, 56 percent of which begin with tele-based marketing.
Among the top reasons that makes telemarketing extremely effective is the fact that it is involves voice-to-voice human interaction, which is considered rare and unique in today’s business world. New business owners often disregard this strategy and only focus on digital methods of marketing as they assume telemarketing to be traditional and obsolete.
Tele based marketing is on the rise! This approach is fast becoming popular and currently being recognised by reputable inbound marketing agencies as a valuable tool. And when integrated with existing digital marketing strategies, these agencies are seeing some successful results. Although inbound marketing maintains reliable and effectiveness for drawing leads into your sales funnel, its known for lacking the quintessential human connection and ability to nurture relationships in which telebased services like those provided by Gen Leads can deliver.
In fact, by incorporating telebased services into your pre-existing marketing strategy you will see positive results for your business, and not just through enhanced sales but through the solid relationships cultivated with your customers and their satisfaction of having been provided effective solutions
Tele-based marketing enables businesses to strike a conversation with prospects and existing customers alike. This few minutes of interaction between a customer and your business can help you gain a strong understanding of them and identify the pain points by paying attention to what they want, expect and desire. Based on that, you can introduce them to your products or services as solutions or answers to their problems. You can show empathy and compassion to your customers; and win their trust by not being pushy or automated, but by connecting with them on an emotional level. And that is exactly what customers desire today.
In any consultation we conduct, the first question we ask is “do you have a lead nurturing strategy in place?” The reason for this question is because the lead nurturing process holds much significance and is considerably more important than the sales process. For this very reason, Gen Leads ensure all campaigns encompass a lead nurturing strategy. And whilst your prospect may not want to make a purchase right away, through the progression of the lead nurturing process a prospect will be discouraged from making a purchase elsewhere due to the rapport that has been developed
An effective lead nurturing strategy is created in such a way to not only help you build the relationship but to keep you at the forefront of the prospects mind.
Not sure on how to start the process of lead nurturing or even putting a strategy in place?
Is your business nurturing its leads? Or are your sales team too busy focussing on the “hot” leads that your leads are not being nurtured?
At Gen Leads we understand the importance of lead nurturing and ensure that the lead nurturing strategy we put in place is relevant and focuses on your prospects and how to best communicate and build relationships with them. Contact us today to see how we can help your business with its lead nurturing needs.