Lead Nurturing refers to building regular, automated interactions with sales leads in order to develop a relationship and encourage a purchase. This guide explains what Lead Nurturing is, and the benefits you can obtain such as converting an extra 20% of leads to sales. We also describe step-by-step how to setup your first lead nurturing program.
2. • Most leads are wasted if they’re not a short term
opportunity – 75% are lost, ignored or discarded.
• But most leads you generate are not short term
opportunities.
• This means you are wasting money generating leads
that you don’t follow-up.
• Lead Nurturing is the automation of lead follow-up.
• Doing it right means you can convert an extra 20% or
more of the leads you generate.
2
3. Key Points
1. Automate the capture of leads.
2. Categorize your sales leads into different types.
3. Identify the kind of content each type is interested in.
4. Define a follow-up workflow for each lead type.
5. Automate these ‘nurture workflows’.
6. When leads respond trigger appropriate steps.
3
4. Marketing Automation includes Lead Nurturing
Generate
Web
Traffic
“Closed
Loop”
Reporting
Handover
SalesReady
leads
Capture
Leads
“Nurture”
those
Leads
6. What Is Lead Nurturing?
•
Companies spend a lot of time trying to generate new and better sales leads.
•
But they often discard, lose or ignore leads that are not short term
opportunities.
•
Lead nurturing aims to address that problem.
•
It is the automated process of communicating with new and existing leads.
•
It involves regular communications – usually via email – to keep your
company ‘front of mind’ with leads and identify qualified prospects who are
ready to engage with sales.
DAY 1
Thank
you
email
DAY 2
Case
study
email
DAY 14
First
phone
call
DAY 28
White
paper
email
DAY 42
2nd
case
study
DAY 49
DAY 56
Webinar
invite
Second
call
6
7. WhyMarketing Automation
Should You Implement Lead Nurturing?
There’s a clear business case
• There’s a clear return on investment for Lead Nurturing.
• A CMO Council Survey estimated that 80% of leads are either lost, ignored or
discarded.
• Calculate the proportion of your marketing budget you spend on lead generation –
typical costs per lead are $100 or more.
• How much are 80% of your leads worth?
• MarketingSherpa also estimated that around 75% of leads generated by most
companies are not followed up if they’re not a short-term opportunity (i.e. going to
close in this quarter). With the average B2B lead costing $100+ to generate, that can
quickly add up to a lot of money.
• Gartner has estimated that automating marketing processes can increase revenue by
20% and reduce marketing costs by 25%.
• So, if you want to increase lead conversion you have to manage your leads more
efficiently.
• That means you should implement lead nurturing.
7
8. The Goals of Lead Nurturing
Marketing Automation
1. Ensure we respond to all leads (i.e. that none of them go un-contacted).
2. Make sure this response happens faster than at present (e.g. minutes or
hours rather than days).
3. Ensure we respond to all leads consistently.
4. Ensure this response is based on information we have about the lead,
rather than based on a given sales person's current location, their
workload or their access to the CRM system or other circumstantial
drivers.
5. Ensure that our longer-term response (lead nurturing) is effective at
driving engagement with leads – that our actions increase engagement,
not decrease it.
6. Record sufficient information about how we manage leads so that we can
analyze our activities and draw accurate conclusions about how to
improve our approach.
8
10. How Do You Get Started?
• Ensure you are capturing leads from your website and blog.
• For example, when a web visitor registers on a ‘landing page’ to download a
white paper.
• Their details should be automatically stored on a database.
• Marketing Automation systems (such as Motarme) take care of this for you.
10
11. How Do You Get Started?
• Some leads are more likely to become qualified than others.
• For example, you may find that leads from particular industries or countries
are more likely to convert to customers.
• A lead score is a numerical value you use to represent how ‘hot’ you think
the lead is, based on information you can gather about that lead (explicit)
and based on the lead’s behavior during nurturing (implicit).
• Set some simple rules to score leads when you first capture them (explicit
scoring), and then as you learn more about them (implicit scoring).
Score
Definition
10
Low quality lead
20
Not in profile
30
In Profile
50
Sales Ready
11
12. How Do You Get Started?
• Categorize the leads you are targeting as different “Personas”.
• For example, categorize by role - IT Managers, Sales Directors, CFOs.
• And / or by industry e.g. Financial, Medical…
• Or other characteristics such as their location, company etc.
• The output is a set of Personas – summary descriptions of a category of leads.
Sales
Role: Sales manager
Organization: SME
Geography: N.America
Goals: have easy access to
prospect information 24/7; get
better quality leads; better pipeline.
Marketing
Role: Marketing manager
Organization: multi-national
Geography: East Asia
Goals: manage multiple channels;
drive awareness of the company;
produce more and better quality
leads.
IT
Role: IT manager
Organization: SME
Geography: Europe
Goals: reliability and
availability; simplified
architecture; security; cloudbased infrastructure.
12
13. How Do You Get Started?
• Your leads will be interested in different kinds of content depending on their
role, industry and their stage in investigating a product or service.
• Typically prospective customers move from “awareness” through to
“decision”.
• As they learn more they require different types of content.
• Use a ‘Content Table’ to map out the kinds of content you think will appeal to
the Personas you are trying to target as they move through the process.
• Content can include white papers, webinars, case studies and short emails.
Awareness
Interest
Evaluation
Decision
13
14. How Do You Get Started?
• A Nurture Track is simply a sequence of emails sent out on a pre-defined
schedule.
• Map out which emails you want to send to each of your personas, and specify
the delay between mails.
Start
1
Day 1
Email – “Thank you for registering”
2
Day 1
White paper
3
Day 8
Blog post
4
Day 22
Case Study
5
Day 38
Report
6
Day 45
‘How To’ Guide
End
14
15. How Do You Get Started?
• Setup this automated Nurture track on your Marketing Automation system.
• This is how it looks in Motarme’s system:
• Now as people register on your website the system automatically scores them
and allocates them to a nurture track, and they receive a predefined sequence
of emails.
15
16. How Do You Get Started?
• You should monitor how your leads respond to your nurture emails and react
appropriately.
• The monitoring can be automated.
• For example, if they open emails, attend webinars and download more
content you can automatically increase their lead score.
• The goal is to move them to a threshold score where you consider them to be
“sales ready” i.e. they fit your profile and have shown serious engagement.
16
17. How Do You Get Started?
• As you monitor your nurture tracks you will see patterns where particular
emails or sequences are more effective than others in moving leads along the
purchase path.
• Define metrics that you want to measure and compare across tracks – e.g.
number of leads entering track, average lead score increase, number of
unsubscribes, number of leads passed to sales, value of opportunity.
• Identify individual emails or content items that draw high responses.
• Eliminate emails or sequences that generate higher unsubscribe rates.
DAY 1
Thank
you
email
DAY 2
Case
study
email
DAY 14
First
call
DAY 21
White
paper
email
DAY 28
2nd
case
study
DAY 35
DAY 42
Webinar
invite
Second
call
17
19. Example Lead Score Definition
05
Initial inquiry
Marketing qualified lead
Handover to
Sales
10
30
Sales qualified lead
Sales prospect
Sales
outcome
Invalid leads
Lead details are valid but
insufficient information
40
Verified contact details,
company and/or LinkedIn,
Google+, Twitter or Facebook
50
Marketing Qualified plus
positive response with
nurture track
Sales Ready
19
20. Example Nurture Track Definition
Nurture Track
Track Name
Persona 1 Track 1
Awareness
Persona 1 Track 2
Evaluation
Persona 1 Track 3
Selection
Persona 2 Track 1
Technical Assessment
Persona 2Track 2
Technical Evaluation
Persona 2 Track 3
Implementation
20
21. Example Nurture Track Definition
Start
1 Day__
Initial “Thank You” email
2 Day__
White paper – “Title”
Nurture Track 1 Email 1 – White paper name ________
3 Day__
Blog – “Blog post”
Nurture Track 1 Email 2 – Blog post _______________
4 Day__
Report – “Report name”
Nurture Track 1 Email 3 – Report__________________
5 Day__
<Call>
6 Day__
Blog – “Blog post”.
Nurture Track 1 Email 4 – Blog post ______________
7 Day__
Report “Report name”
Nurture Track 1 Email 5 – Report _________________
8 Day__
Blog – “Blog post”
Nurture Track 1 Email 6 – Blog post ________________
9
Day__
10 Day__
Email Names
<Call>
Blog – “Blog post”
End
Nurture Track 1 Email 7 – Blog post ________________
21
23. Motarme is an easy-to-use Marketing Automation system. Motarme is specifically
designed to help business-to-business (B2B) companies in the technology, engineering
and industrial sectors generate sales leads online. The system automates lead capture,
lead scoring, landing page creation, email lead nurturing and reporting.
In addition to our web-based Marketing Automation product we provide consulting, web
marketing and lead generation services. Our customers include Siemens, Mergon Group,
SF Engineering and mid-size and early stage technology companies.
Web: www.Motarme.com.
24. About Motarme
Clients
“The system delivered real,
measurable results in a short
timeframe – sales and contacts from
our target audience at Tier 1
companies.”
Caolan Bushell
Business Development Manager
Mergon Group
“Generating leads online is now a
central part of our sales strategy.”
Barry Rooney
Chief Operations Officer
Siemens ITSS
“ We have seen for ourselves how a solid
strategy has helped to drive traffic to our
site and generate sales leads.”
Joe Lynch
General Manager
IMEC Technologies