How Lead Nurturing Improves Sales

September 3, 2012

In your quest for sales, do you leverage the value of lead nurturing?

Sales leaders know that in the process of converting a raw Lead to a Prospect, and then to a real Opportunity, and ultimately to a Customer, there are often many nuances and inflection points in the conversation, with the result that the sales process is almost never linear.  Those nuances can include shifts in the Prospect’s priorities, needs, and role in the buying process.  These things must be verified repeatedly to detect changes in Prospect status and respond accordingly.  If you don’t frequently check them, your sales forecast becomes a fairy tale, and you won’t know where your next meal is coming from.   You could be ignoring imminent buyers or focusing too much on long-shot prospects, and not even know it.  Either way, you lose.  Lead Nurturing helps you keep on top of the changes.

Click here for a free, crowdsourced process guide to help improve your forecasting.

Recent Experience

A recent project we performed for Pluris Marketing, provider of OCDP (omni-channel dynamic profiling) solutions for large consumer marketing organizations, transformed from simply securing executive appointments to also nurturing leads, and illustrates how lead nurturing contributes value to the sales pipeline.

Not part of the original project scope, Lead Nurturing quickly grew in importance, for three reasons:

  • Establishing a dialogue with as many prospects as possible enabled us to train our ears to the “Voice of the Customer” so we could determine what value people derive from Puris’ solutions – in their own words – and tweak our campaign messaging to improve relevance.  In short, what you call yourself is often not as important as what your customer calls you.  Example: the phrase “Dynamic Profiling” is a term borrowed from a Prospect – not something Pluris dreamed up.
  • Nurturing leads enables us to captivate and sustain a broader, interested audience, improving our place in each prospect’s “Initial Consideration Set” of potential options when they decide they need a relevant solution.
  • The sheer number of “nurturables” far exceeded the number of immediate sales appointments generated under this project.  The number of nurturables alone caused our client to take notice of the opportunity.

Why Nurture Now

Certain human behavioral tendencies make it difficult to convert a new Lead to a current Prospect, let alone a sale:

1) Relevance – People typically perceive immediate needs as more relevant and more urgent than future problems.  No matter how relevant you think your offering is, your Lead’s opinion matters more.  You stand a far greater chance of converting a Lead to a Prospect if they view your solution as currently relevant.

2) Consequences – People tend to discount the importance and consequences of future events.  A distant goal or pain is less motivational than a current one, even if delay portends grave consequences.   Moreover, people tend to see future consequences – even grave ones – as less important with every year such action is delayed.  The farther into the future a need is projected, the less likely it will be perceived today as ever becoming important.

Surprise! Researchers Find Humans Illogical

Illustrating the Relevance and Consequences phenomena, Columbia University researchers found that the average person finds little difference between getting $250 now or $350 a year from now.   Imagine that!  You could opt to wait a year and earn 40% on a surefire outcome, or you could take the money now and forego the potential 40% greater financial benefit.  You don’t need to be Warren Buffet to know that no investment vehicle can guarantee you a 40% one-year return on principle just by delaying receipt, and yet most people queried would rather have the money now, consequences be damned.

Heavily discounting future benefits or consequences can greatly distort corporate thinking, behavior and beliefs.  As maddeningly illogical as human nature may it may seem, your appreciation of this phenomenon actually becomes your competitive advantage if you have a Lead Nurturing program that helps prospects learn, appreciate and promote the importance of your solution.

Lead Nurturing Includes Content Marketing

An effective Lead Nurturing program, including content marketing mapped to each prospect’s unique persona and information needs, enables you and your prospects to keep the discussion channel open and lively.  Rather than attempt to drive each prospect toward near-term action, you instead conduct periodic relevant communication, build productive relations, and assist prospects in evaluating your offerings, so that they can intelligently shift priorities toward considering and adopting your solution – perhaps even sooner than they expected, but in any case, willingly.  If done well, you can identify the “hand raisers” worthy of greater attention and likely to buy, and even determine their decision time frame.

Driving toward a sale too hard or too soon can be viewed by the Lead as pushy, inattentive and ignorant, and typically leads to a fall-off in response, inattention to your future communication attempts or, worse, unsubscribing from your feeds and possibly treating your ill-timed, irrelevant communication as unwanted spam.   We’d all like to believe that prospects discount our pushy, sales-y human failings and focus instead on the merits of our offering, but you are more likely to hold one another’s attention over the long term if you actually listen, check for understanding and nuanced changes, and respond accordingly with relevant information.

Patience Pays

In your eagerness to bring in more sales this calendar quarter, don’t risk alienating a next-quarter sale. The Leads you start to nurture today rarely move as quickly as you’d like, but a constructive, open dialogue helps you understand your relevance in the Prospect’s view so you can tune your messaging to match, while also giving them something to share within their own circles of influence to build consensus toward adopting your  solutions.

Patience and persistence pay, and lead nurturing is the currency.

 

 

 


Content Marketing: A Day in the Life

February 27, 2012

Keeping to the plan of openly sharing our playbooks with clients,  friends and followers, I’m hoping this overview of a typical Content Marketing routine helps you think about ways to be more productive and get better results.  For more Playbook tools, visit the Resources page and help yourself.  As usual, more links apppear below this article. Enjoy!

The following routine is – like most – idiosyncratic, but after some weeding and winnowing, I now have a handful of “go to” resources that work well for many situations. Your own results may vary, and certainly your own audience and goals will affect your choice of routine and toolset.  That said, here’s one routine.  Will it be the same a year from now?  Probably not.  Audience requirements change, tools evolve, and our “learning lab” approach reveals new findings every day.  How does yours compare?  Holla back, friends!

Overview

Digital ink

In about an hour a day, two to five days a week, I create, share, comment and research interesting, relevant content among my online community of Twitter followers, LinkedIn connections, and several membership and nonprofit organizations I have joined or for whom I give presentations by invitation.  I perform versions of this process for clients who have outsourced their Chief Revenue Officer and content marketing roles.

Overarching Goals

Simply put, the goal of any content marketing effort should be twofold: Uptake and Intake.  Uptake refers to the echo effect of communities sharing and re-using original content.  Intake refers to the process of linking all content to intake processes – landing pages, email responders, mobile apps, microsites, interactive tools, events, documents, etc.

To fulfill those goals, it helps to have the following workout goals:

  • Cultivate an online voice
  • Generate original noteworthy content
  • Promote others’ noteworthy content
  • Link it all to intake processes for  generating business leads and monitoring/managing community dialogue
  • Continually explore tools and techniques that facilitate “scale-up” i.e. maximizing results of time and effort.
  • Link Content, Community and Conversion using a content mapping and planning tool like the one shown below.

Blog Routine

I write two articles per month for my two blogs. I write one article per week for each client blog I curate. When very busy, I let my own blogs lapse.

e-Zine Routine

FanFoundry Daily and SocialClimate Daily (Paper.li)
Weekly: Rotate the hour of publication each week to hit the 8 am and noon hours across US / EU  .

Daily: Browse articles matching my pre-set keywords; re-tweet articles from the source where possible; move tweeted articles “above the fold”.

Hootsuite

Daily: Review the handful of Twitter accounts I own, as well as those I curate for clients – Stream, Mentions, Re-tweets, keywords, client community dialogue, as well as personal friends and professional groups; Re-tweet relevant content (see Paper.li above and Alltop.com below); Post relevant original Tweets – an article link, a meeting note, a convo thread, etc.; schedule client promotional Tweets to occur in the 8 AM and noon hours across US / EU  time zones.

LinkedIn

Daily: Scan Profile for InMail, Visits, LinkedIn news, and Connection updates. Send notes to Connections with noteworthy Updates (new job, interesting article, etc.); respond to discussion threads, invitations and queries.

Semi-weekly: Visit Discussion Groups; post article links; comment where my expertise warrants; start a Discussion (usually a research question for my own or a client’s business).

Alltop (virtual “magazine rack” of noteworthy bloggers)

Review the blogs I follow for timely and relevant articles. Re-tweet them, and flag interesting ones to link at the end of my relevant blog articles.

Databases

Each week we add new contacts to our main CRM database, classifying them by source, organization, industry, and several other criteria.  Sorting on multiple criteria, we can usually find anywhere from a dozen to several thousand relevant audience members to whom we may email, Tweet or otherwise reach out and initiate or sustain conversations.
The database numbers around a hundred thousand, yet we are able to keep conversations personalized and theme-specific.  This generates significant inbound interest and keeps us touch with clients, partners, friends and prospects.  Shameless plug:  our lifetime average open, click and conversion rates exceed industry norms.

They say you can only have about 150 members in your personal network before things break down; you can easily triple that number – or more – with an effective CRM database, compelling content and mobile/social/email marketing.

R&D / Sharpening the Saw

I condense notes from interesting and relevant magazine subscriptions (Forbes, Fortune, Wired, AdAge, BtoB, etc.). I file them under appropriate topics (in a list of 20).  I update my portfolio of presentations with relevant statistical references from all sources.

I follow a handful of industry analyst heavyweights and key businesses.

I review my meeting notes and generate follow-up communications using my database, private email and, for larger audiences, email marketing software.  I review trending topics on Twitter etc. to determine best topics for timely articles.

Trending topics I cover for myself and my clients include: marketing automation, branding, campaign management, community building, content marketing, customer care, email marketing, event marketing, interactive design, marketing communications, marketing funnel, mobile marketing, prospecting / inside sales, public relations, sales pipeline management, sales training, SEO, social media, and sustainability. Additionally, I cover trending industry topics for my portfolio of clients.

Other Tools – Analytics, Plumbing, etc.

All of the above may seem like a full time job,  but couple of years of practice have transformed it to a daily one-hour process that we have adapted to suit many clients.  It is all facilitated by an array of tools.  You can find a reasonably updated listing of tools in the right sidebar.  They include CRM, analytics, and assorted utilities that help leverage channel data for better client results.  Examples: Klout, FollowerWonk, InMap, etc.

How does your routine compare?  Got any tips to share?  Holla back!

Thanks, and make it a great day.


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