Lead nurturing is not a new topic, but most businesses still don't take advantage of this powerful sales and marketing tool. Lead nurturing is the process of systematically communicating with leads in order to educate, qualify and build a relationship until they become "sales ready".
While this process doesn't have to be automated, much of it's power comes from the ability to make lead follow up "systematic". Automated lead nurturing systems can act like a virtual sales rep, developing leads until they demonstrate enough interest to engage with sales.
Below are a few statistics that demonstrate the power of lead nurturing.
- A Forrester Research report highlights that companies who excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost.
- SiriusDecisions reports that during the last five years, the average sales cycle has become 22% longer, typically with three more decision makers participating in the buying process. This highlights the need for (and challenge with) communicating with many people in an organization and maintaining these relationships over time.
- According to CSO Insights, companies that excel at lead nurturing have 9% more sales reps make quota, and enjoy a 10% shorter ramp up time for new reps. This is not surprising since a well designed lead nurturing program not only makes sales more efficient but also demonstrates a solid understanding of the customer's buying process.
- According to DemandGen Report, nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads.
These numbers are significant. If you are investing time and/or money generating leads, you might consider lead nurturing as a way to maximize your ROI on those investments.
Learn how to convert more leads into sales, get repeat sales from customers and how to grow your business quickly without adding staff. Download it Now.