Get Your Sales Funnel Back Up and Running Now!
As long as there have been clients, there have been marketing agencies trying to convince them that marketing is a 24/7/365 endeavor. But when business is good and the pipeline is full, clients want to scale back marketing because they think it’s unnecessary. And when there’s a crisis impacting the economy, such as we’re experiencing right now, businesses try to protect themselves by cutting their marketing spend.
Financial boom or economic bust, the knee-jerk response to cut back is to blame for a lot of missed opportunities to move forward. Eventually that full pipeline slows to a trickle or the economy rebounds, and businesses that suspended marketing efforts are left to start over and reinvest in filling it again. Lead nurturing is a simple way for businesses to avoid an empty pipeline in a variety of economic conditions and maintain an active presence in the marketplace while also being conservative with the marketing spend.
Lead Nurturing vs. Lead Acquisition
Depending on the nature of your business and a variety of other factors, now may not be the best time to invest in attracting new customers through lead acquisition; however, lead nurturing offers economies that differ from acquisition, making it a more affordable option at times when you want to limit your spend. Lead acquisition is typically a larger investment of time and resources than lead nurturing because it includes activities such as market research, audience profiles, and new strategies. Comparatively, lead nurturing tends to the prospects already in your database—current customers and customers who have expressed an interest in your company but just never advanced. Lead nurturing acknowledges that your prospects may not be ready to buy right now, but it commits to keeping those customers and prospects engaged with your brand and primed to buy when the time is right.
Small Investment, Big Return
Contrary to popular belief, a strong lead nurturing program is actually quite affordable, and it’s a simple way to keep your marketing efforts always running in the background. The tools needed to create a lead nurturing program are tools you already have, and digital technology makes automating the process easy. Using a combination digital tools, such email, form fills, and social media, plus some high-value content, you can create a lead nurturing program that’s both affordable and hands-free. You can also customize content for individual customers and prospects and score your leads based on their individual responses to your lead nurturing communications.
Customers are frequently won and lost in right-time-right-place scenarios, and if you’re not there all the time, your business can be easily overlooked for one that is. Don’t let these economic yo-yo experiences be so jarring. Lead nurturing is an affordable marketing tactic that you can start right now and maintain with little effort to continuously move cool and warm prospects closer to closing and keep your pipeline full.