Lead nurturing is one of the most important aspects of any marketing campaign. After all, all buyers are leads first. By establishing a good relationship early on, you improve your chances of closing the deal and creating a loyal customer.
If you’re unsure whether your lead nurturing campaign is working or if want to improve upon your strategy, here are seven mistakes to avoid and how to fix them.
Targeting the incorrect demographic
You could be turning away potentially high-value leads by delivering the wrong type of content.
In a recent report, nearly 35% of consumers expressed frustration when they were sent discounts, information or an offer for a product they had already purchased, and 33% have been angry or upset when they received an offer that wasn’t relevant to them. Additionally, 31% expressed frustration when a brand they purchased from didn’t recognize them as a return customer.
To ensure that your marketing strategy is effective and that your leads are receiving information that is most relevant to them in regards to their demographics and position within the sales funnel, it is essential to tailor your messaging for each stage in the marketing funnel, as well as to a variety of buyer personas. Here are three ways to use behavioral data to drive better sales.
Using outdated or out-of-market content
Your leads have different needs as they move through the sales funnel. If content is outdated, or just plain irrelevant to their stage in the funnel, you could be creating a situation in which your potential buyer leaves in the middle of the sales process.
The best solution is to create content for every stage of your sales and marketing funnel. As well as tailoring the delivery of it to the right people at the right time.
Losing your leads in the funnel
It is crucial to follow your leads through the whole funnel. Once your customer enters into your lead nurturing funnel, they need to be included in a lead nurturing campaign that will help to convert them into a buyer.
Whether they’re in the explorer, gatherer, decider, customer, or champion stage, your lead will need to have touchpoints at each stage in order to arrive at the loyalty stage. Multiple touchpoints, such as a scheduled email campaign, will identify action items, that will keep your lead engaged while moving through your funnel.
Bad internal timing
Imagine walking into a store, telling the sales associate that you know what you want and are ready to check out, and the associate telling you they’ll get back in two to five business days – and then walking away.
If your sales team does not act with haste and passion in their lead nurturing, it’s basically the same thing. As a matter of fact, only 16% of companies have a response time to new leads within 24 hours. That can be a costly mistake and the difference between closing a sale and alienating a lead.
A lead’s odds of entering the sales funnel are 21 times greater if that person is contacted within the first five minutes, compared to 30 minutes or more. This means that the faster you reach your new leads, even if it’s automated, the greater chance your lead makes a purchase.
Forgetting to follow up
If someone has come to your business wanting information, you are probably more than happy to give it to them. After all, they’ve shown interest in your product, and you hope to turn them into a customer.
However, many leads can fall through the cracks and leave the sales funnel because they didn’t receive any contact. Almost 50% of leads don’t receive a follow up, and this could cost you an opportunity to capture a high-value lead.
Use your CRM to check up on and follow your leads. Create automatic triggers that will remind them of your company, give valuable content and resources that will help them make their decision, and create soft touches that will keep you top-of-mind during their consideration process.
Not using your data
A big mistake that marketers can make is misusing the data they’ve gathered. (More specifically, not using the data to adjust their marketing strategy).
The process of using data to update your marketing plan can’t happen just once at the onset of your campaign. On the contrary, you should alter it throughout. Once you have developed a baseline for your lead scoring, you should evaluate your lead’s current scores with sales. Do this often, and adjust your marketing strategy accordingly.
One way to track conversions is to take your marketing qualified leads (MQLs) and use a formula like this:
# of MQLs sent to sales / # of customers closed from MQLs.
If your percentage is low, you should adjust how you are scoring leads that are passed to sales. If it’s midline, you should address which areas of your lead nurturing and sales process need updates or improvements. By consistently monitoring and utilizing your data, you can optimize your strategies and attract more leads.
Not using personalized content
With the increased use of marketing automation software, it’s easier than ever to create personalized experiences for your audience. Emails with personalized subject lines have a 27% higher unique link rate and an 11% higher open rate, than others. Thus, personalization proves advantageous.
However, personalization means more than inserting your lead’s name into the email. You should also address their specific concerns based on their recent actions and connect with their situation based on the stage of the sales funnel they are in. Personalization initiatives like this show your leads that you care about them specifically. Not just as a massive pool of identical leads, which can persuade them to continue their journey in the sales funnel.
Want to learn more about how to maximize opportunity for lead nurturing? Contact us today!