Lead Nurturing Definition
Lead nurturing is essentially just another way of saying “building a relationship.” In this case, it’s with potential customers.
When potential customers take a deliberate action to express interest in possibly doing business with a company—such as providing their contact information in exchange for information, a free consultation, etc.—they can be considered a lead. The business likely motivated this behavior with a well thought out lead generation strategy.
After acquiring a lead, a business will be interested in “nurturing” them to increase the likelihood that they become a paying customer. Lead nurturing is typically accomplished by making regular contact with the lead, e.g., by sending regular emails with genuinely valuable information as part of an email marketing strategy.
Lead Nurturing Example
A business has set up a lead generation system on their website. In exchange for an exclusive report which provides solutions to a common problem relevant to their target audience, website visitors provide the business with their email address.
Rather than going for a “hard sell” the moment the business has the contact information, the business (smartly) decides that engaging in lead nurturing will ultimately result in a higher conversion rate and more paying customers. The business sends emails regularly to the lead which have been designed to build trust and provide genuine value. Over time, the lead “gets to know” the business and ultimately has a much easier time deciding to become a paying customer.
Why is Lead Nurturing Important in Strategic Marketing?
- Closing Sales
- In most situations, a business is far more likely to close a sale with a “warm” lead—and one of the best ways to warm up a lead is with a great nurturing strategy.
- Customer Experience
- Lead nurturing ultimately enhances customer experience (CX) because potential customers who become paying customers are more familiar with the company, have already received value, and so on. This makes the possibility of additional purchases more likely.
