Lead generation is very important for any business that want to succeed. This is why 58% of marketers say their lead generation budget will increase this year. But the truth is 30% - 50% of leads are not ready to buy. Infact, according to MarketingSherpa, 61% of B2B marketers send all lead generation to sales, but only 27% of those leads will be qualified.
So, how do you solve this problem?
It is simple!
Use Lead nurturing.
Lead nurturing is the process of building relationships with your leads at each stage of the buyer's journey. It involves communicating with your leads and helping them with more information on what you offer. This way, you will allay all their fears and build their trust and interest to the point where they become paying customers.
How do you achieve that?
Below are 7 jaw-dropping tips to increase your sales with lead nurturing TODAY.
1. Provide Valuable And Targeted Content
Effective lead nurturing requires distribution of valuable content to your leads. The truth is:
Leads nurtured with targeted content produce an increase in sales opportunities of more than 20%.
But the problem is:
Most marketers struggle with creating valuable content to nurture their leads. Forrester research revealed that 33% of b2b marketers cite "targeted delivery of content" as their biggest lead nurturing problem.
But you know what?
It is easier than you think.
First of all, before you can create targeted and valuable content for your leads, you need to create a buyer persona for them.
It will help you to know your leads better. You will know the issues they are struggling with and the suitable content that they will value based on their goals, objectives and interests. You can create content based on such issues and proffer solutions for them.
Below is a sample of a buyer persona from Buffer.
Secondly, you need a content map. A content map will help you to determine the email you need to send at each stage of the campaign. You need to set up all your content before your lead nurturing campaign goes live.
Most of your consumers prefer different content at each stage, so don’t forget to mix up your content.
Again, include a call to action in the content to tell your readers what to do next. For example, you call to action can be to learn more from other content on your website. This will increase engagement and conversion rates.
The most interesting thing is:
You don't have to create new content for your lead nurturing campaign.
You can leverage on what you have used in other marketing efforts. These includes webinars, direct mail, blog content, podcasts, events, press releases, white papers etc.
You can simply repurpose the content to suit your campaign.
2. Launch A Call/demo Campaign
In addition to creating valuable content for your leads, make sure you show them how your product or service works.
Show them your product's features and benefits in the form of a demo video.
Below is a sample demo form from Leadsbridge.
A great way you can encourage your leads to view your product demo is by sending an email with a link to your product demo where you show the features and benefits after someone downloaded your free ebook.
A demo is great for leads who already know they have the problem your product solves and they are ready to take action about it. Therefore, they think your products deserve a closer look.
However, you need to make sure that you present your message in a way that shows you care about your lead's pain points. You can do this by presenting your product as a solution with a call to action.
Demos are also a great tool you can use for secondary offers.
For example, you can add them to your thank you pages and in fulfillment emails. These are emails you send to your subscriber when they request to download your e-book or other free products.
You can add the link to the demo after you have given them what they want. If they are ready to take the action, they will view it.
3. Offer A Product Discount
A product discount is a great strategy to entice your leads to make a purchase.
It breaks down the barrier of objections, especially, financial issues that can prevent them from buying.
Offering a product discount to your leads will help to move them through the sales funnel.
A product discount is a great idea when you have a new product you want to encourage your leads to buy or you want to promote one of your products that sell best.
It is also a good strategy to re-engage inactive leads. These are people who have not been opening your emails. Chances are, if you give them a product discount or a trial, they will be able to extend the trial of your service or save money on their first purchase.
Examples of product discount offers are special discounts, free shipping, coupons, referral campaigns, etc.
Below is an example of Walgreens’ weekly sales and coupon codes and ongoing promo codes as shown below:
4. Include Partner/affiliate Products Within Your Content
You can promote other company's products and services to your leads. This will help you to generate additional income, especially if the product is a good match for your customers.
It is a good way to mix things up before your audience gets tired of hearing about your product or service alone.
There are many affiliate networks with products you can promote to your leads. They include Clickbank, Commission Junction, Linkshare, Shareasale, Flex offers etc.
Choose the best affiliate networks for your niche and sign up with one or two. You will be given hyperlinks to use to track any sales you make from your leads.
The amount of money you can make in affiliate marketing largely depends on three factors. These are the size of your email list, the relevance of the product to your list and the effectiveness of your sales copy.
If you have a moderate list of subscribers who trust your recommendations, and you get a good product that is relevant to them, you can make a good chunk of money in return.
However, you need to be transparent when promoting affiliate offers. Let your subscribers know that when they click or buy the product, you will receive a commission. In the US, FTC makes it mandatory that affiliates disclose any payment received for endorsing a product or service.
If you recommend a product to your subscribers, it means you are endorsing it. Make sure it is a product that you can use personally. Avoid promoting low-quality products to your leads.
5. Down-sell Offers
Down-selling is a strategy of recommending a low-priced product once your customer rejects the first offer for some reasons.
Once the customer backs out of the purchase, you can quickly offer a lower-priced product to enable them to buy.
For instance, if you want to buy a suit, but changed your mind along the way, the salesperson can show you a cheaper alternative. However, It is not the same thing as a discount.
The aim of down-selling is to acquire the customer, even it means not making as much profit as you envisaged.
Down-sell works better when a product or service is too expensive for the buyer or when the customer is ready to walk away from the offer.
When you provide a cheaper alternative for your customers, it brings them closer to making a purchase.
A good example of a down sell offer is from Michael Kors. They offer 50% off select products. It is a limited time offer as seen below.
6. Upsell Offers
Upsell is the process of selling or recommending expensive items to your customer after they made their first purchase. This provides a good way to increase the average $ per transaction. Upsell makes up 2-4% of a company's overall sales numbers
Upsells include extended warranties, more product features, ongoing membership rather than a one-off sale, etc.
It works best when the customer is ready to buy the product or when the customer is confused as to what they want to buy.
To make your upsells effective, concentrate on focusing your message on the benefits of the upsell rather than turning your email content to a sales pitch.
A good example is from Proflowers. They suggest expensive vases suitable for selected flower as seen below:
7. Add Some Bonus
Adding a bonus to your product is a great way to encourage people to buy from you. It can help you to turn a lead into a customer.
In creating a bonus for your audience, make sure that it is something they will find useful after using your product. You can do this by taking a look at their pain points. What are their fears and pains? A bonus on that could help a great deal.
You could also create a product on what your customers would like to have before buying your product.
When giving a bonus, don't sell it with the product at a packaged price. Sell the product and give the bonus away for free.
Also, make sure your bonus is related to your product, If it is not related it will not increase your sales.
You can use e-books, videos, audio files, mini courses, software, access to webinars and events, checklists, quick start guides or resource list as bonus offers.
In this article, I shared with you some tips to multiply your sales with lead nurturing. These include creating valuable content, launching a demo campaign, using product discount, including affiliate links in your content, using down-sells and upsells and providing bonuses
What do you think?
How do you increase sales with lead nurturing? Do you have any questions regarding the tips above? Please share your experience and thoughts in the comments.