Do you have leads in your pipeline that aren't ready to buy yet?
Has corporate approved you as the vendor of choice but the franshisees aren't convinced they need your product?
Have prospects visited your website but not yet downloaded your white paper?
They're not ready to engage with a sales person, let alone buy.
They are a marketing qualitifed lead (MQL) as opposed to a sales qualified lead (SQL).
You, and your marketing team, need to provide more information of value to help the prospect understand how your product or service can solve their problems and meet their needs.
By providing information of value, you are educating your prospective customer, establishing yourself and your firm as a trusted provider of useful information.
You are providing value before making the sale.
People buy from those they know like and trust.
By providing information of value, answering frequently asked questions and educating the prospect you are building awareness of your firm as an industry thought leader and as a trusted source of information and products or services.
Once you have established sufficient trust, your marketing qualified lead will become a sales qualified lead and be much easier for your sales person to close.
I developed a lead nurturing program for an online aggregator of laboratory products in the early days of procurement portals.
The lead nurturing program reached out to prospective suppliers to help educate them on the benefits of putting their thousand-page catalog of products online.
The program enabled sales reps to close suppliers in one or two visits versus two or three visits reducing the sales expense, by 33 to 50%, as well as shortening the buying cycle.
Lead nurturing programs are a lot like customer bonding programs. What varies is the information you provide and the questions you ask a prospect versus a customer.
In order to reduce sales costs and accelerate buying cycles, seek to provide information of value to prospective customers beefore trying to sell them your product or service.
Have you used a lead nurturing program to reduce sales expense or accelerate buying cycles?