What is Lead Nurturing System?
The Lead Nurturing System is the process of developing a relationship with buyers at every stage of the sales funnel and through every stage of the buyer’s journey. In addition, it focuses marketing and communication efforts on listening to prospects’ needs and providing information and answers to their needs.
- On average, 50% of the leads in any system are not yet ready to buy (Marketo).
- Almost 80% of new leads never become sales (MarketingSherpa).
- Companies that excel at lead nurturing generate 50% more sales-ready leads at a 33% lower cost (Marketo).
- Nurtured leads make 47% larger purchases than non-nurtured leads (The Annuitas Group).
Therefore, effectively developing a lead nurturing system in today’s buyer-driven marketplace means establishing and nurturing buyer relationships with a strategic lead scoring system, and then building that framework with a complete content marketing plan.
How to Score Leads for Nurturing
Marketing and sales need to be brought together to advance the lead scoring strategy, where the brand has a particular lead within its purchase model. It is the backbone of a strong lead nurturing system as it identifies when and how to address the most topical and critical communications to each buyer.
The details of any lead scoring system will be specialized to every brand, based on your industry, niche, and unique audience. There are, however, four dimensions of lead scoring that should be evaluated as you progress your strategy.
1. Lead Nurturing Fit
Lead fit describes how well a specific buyer matches the brand’s ideal prospect or usual buyer. Although, This introductory-level data will tell you if a lead is quality pursuing at all, and breaks down into three categories:
- Demographics—The buyer’s job title, company size, location, years of experience, etc.
- Firmographics—The company’s name, size, location, annual revenue, etc.
- Budget, Authority, Need, Time (BANT)—Can the lead afford you? Does he have the authority to purchase? Rather, Is there a need you can answer? What is his timeline?
Most of this information is simply collected with forms in front of gated content, email subscriptions, and/or a quick Google search.
2. Lead Interest
Tracking online behavior to determine how impressive your brand is to a buyer is the next state of lead scoring. Also, Is she spending a lot of time on your site? Engaging with social networks?
3. Lead Nurturing Behavior
If one is serious about buying leads, or simply grabbing information, more closely monitoring will specify behavior. In addition, assign lower values to introductory behaviors such as clicking through blog posts. Also, higher prices such as downloading gated content or registering for webinars.
4. Buying Stage and Timing
However, scoring to buy state helps determine where a buyer is in the brand’s sales model. Finally, one way to create a buying state is to align behavior with the top, middle, or bottom of your sales funnel. Attach high marks to click on price sheets and product demos.