Need low cost lead generation?
Lead nurturing is a great technique to lower overall costs of lead generation. Here are some reasons why nurturing works well for low cost lead generation:
1. B2B buyers have long buying cycles. The average number of influencers and decision-makers involved in a sale can be huge, especially for a high-dollar purchase. In addition, in-depth research requires time. This means you need to establish a long term relationship to build trust. Nurturing with a marketing automation solution is perfect for low cost lead generation because the system manages content delivery automatically.
2. Communication can be a key differentiator. In a complex sale, customer "touches" are often steps along an educational path during which a buyer slowly accumulates the knowledge necessary to make a decision. Lead nurturing with a marketing automation solution is perfect for staying linked with a customer at a very low cost.
3. Unless they purchase from a competitor, keep nurturing. According to benchmark research from SiriusDecisions, 80% of the prospects deemed "bad leads" by sales teams do go on to buy within 24 months. It won't be from you if you haven't kept in touch.
4. Nurtured leads are often more lucrative. The Aberdeen Group report "Lead Nurturing: The Secret to Successful Lead Generation" found that best-in-class organizations see nurtured leads deliver 47% higher average order values than non-nurtured leads.
5. Leaky funnels hurt ROI. Leads are expensive. If you can keep potential buyers interested and engaged, you'll lose fewer and the cost per lead will go down. This is a critical aspect of low cost lead generation. You don't want to spend your resources educating a lead on the value of your type of solution, only to have the lead ultimately purchase from a competitor.