80 percent of your leads are not ready to buy from you immediately. Anyhow, they will end up buying from you or your competitor in long run.
The secret to successful lead generation- and ultimately in marketing in today’s business –to-business space – is the underlying process of lead nurturing. Lead nurturing converts inquiries into qualified leads and starts the qualified leads on the trajectory to capture sales.
Many of your leads are not ready to buy now. Regular follow up to check if they are ready to buy now, irritates the prospect. It is most certainly not about salespeople calling every now and then to “touch base” and ask , “ Are you ready to buy yet?” Instead, it is an act of maintaining mind share, building interest in what you offer, and developing trusted relationships with the people who can do you the best.
This is especially true for large deal size sales where patience and time to help prospects truly understand your value proposition are the norm.
By staying in touch and continually conveying your message in anticipation of the day when the prospect is ready to buy, you are well-positioned above the rest to make the sale.
Lack of strong lead nurturing discipline can cost substantial unrealized revenue.
Research indicates that as many as 80 percents of leads are typically lost, or ignored or discarded.
Most legitimate inquiries don’t lead to immediate purchases, but the inquiries eventually do buy.
An in-depth study for Cahners Business Information of inquiries generated by ads and press releases in magazines found that six months after inquiring, 20 percent of the subjects had bought either from the advertiser or his competitor and 15 percent said they would buy soon. An additional 65 percent indicated an interest to buy in the future.
So the lesson is: Beware of unprocessed inquiries that are simply passed to the sales group, be the reps, dealers or whomsoever, for follow up. You could well be leaving as many as 8 out of 10 sales prospects on the table for your competitors to grab off. Your lead nurturing system can guide a plethora of prospects driving to buy from you like the one below.