We’re all in business to create revenue, somehow, some way. It’s true if you’re a warehouse manager maintaining distribution operations. It’s true if you’re a logistics supervisor assessing 3PL vendors. It’s especially true if you’re on the front lines of sales, finding qualified prospects. Whether you like it or not, your activity contributed to revenue, directly or indirectly. Those precious leads your sales and marketing work so hard to cull are the lifeblood of any B2B business.
Your company may be particularly good at attracting sales prospects. However, the main issue with leads is that “up to 95% of qualified prospects who visit your website are there to research and are not yet ready to talk with a sales rep, but as many as 70% will eventually buy from you or one of your competitors,” according to Brian Carroll, author of Lead Generation for the Complex Sale.
The sad reality is that in a right-now sales environment if a company gets a lead that is not ready to sign a check imminently, the lead can mire in the database, or even worse, get picked off by a competitor when they are ready.
That’s why we see so many B2B companies (increasingly in the supply chain and logistics space) investing in lead nurturing. But what is lead nurturing? Lead nurturing is the process of cultivating relationships with qualified prospects – regardless of when they will buy. The goal is to stay top-of-mind with mid- to longer-term prospects, so that when they are ready, your company has some stickiness with them.
But is lead nurturing really worth it?
According to Forrester, CSO Insights, Marketo and others, companies that excel at lead nurturing correctly:
- Generate 50% more sales-ready leads at 33% lower cost per lead.
- Reduce the percent of marketing-generated leads ignored by sales (from as high as 80% to as low as 25%)
- Raise closings on marketing-generated leads (7% points higher) and reduce “no decisions” (6% points lower).
- Have more sales representatives make quota (9% higher) and decrease (by 10%) the ramp up time for new reps.
SalesStaff has recently published a whitepaper called The Ultimate Playbook for Nurturing Non-Advancing B2B Sales Prospects. It outlines lead nurturing best practices – complete with:
- Suggestions on the cadence of emails
- Explanations of different types of lead nurturing campaigns
- Ways to integrate social media into lead nurturing initiatives
Click here to download The Ultimate Playbook for Nurturing Non-Advancing B2B Sales Prospects: