When you’ve finally found that great lead -- or leads -- through your inbound marketing efforts, the relationship with that potential customer is just beginning.
In fact, interactions between your company and that fresh lead will span every step of the buyer’s journey and their trip down the sales funnel. It will require regular engagement and providing appropriate information at the right time along with some follow-up outreach.
In other words, you’ll have to do a little lead nurturing.
Lead Nurturing and Marketing Automation
Guiding a lead along does take time and effort -- two things that may be in short supply at your busy company.
That’s where marketing automation can come in and take that lead from an interested shopper to a committed buyer. Marketing automation takes some of the pressure off you while continuing to engage your leads through things like emails, social media posts, or other targeted content.
Manufacturing has a long buying cycle -- which is why lead nurturing is especially essential for this industry. According to Software Advice's Marketing Automation Buyer Report, 85% of manufacturers cited the need to nurture leads due to a relatively long sales cycle associated with their product.
Lead nurturing and marketing automation are crucial in your marketing strategy and can have big impacts on your company’s bottom line.
The Impact of Lead Nurturing Strategies and Marketing Automation
- According to the Annuitas Group, businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads. Nurtured leads also make 47% larger purchases than non-nurtured leads.
- Gleanster reports using lead nurturing showed that 15-20% of the "not yet ready to purchase" opportunities converted into sales.
- 6 out of 10 survey respondents from Lenskold Group & Pedowitz Group who use marketing automation say it has increased the quantity AND quality of the leads that get passed to sales.
- Lead nurturing emails get 4-10 times the response rate compared to standalone email blasts. (Source: DemandGen Report)
- Triggered emails have a click-through rate 152% higher than traditional emails. (Source: Email Monks)
- Nurtured leads experience a 23% shorter sales cycle. (Source: Market2Lead)
- Bulldog Solutions reports companies that invest in marketing automation solutions see 70% faster sales cycle times and 54% improvement in quota achievement.
- According to Gartner Research, lead nurturing can potentially save 80% of your direct mail budget and bring a 10% or greater increase in revenue over 6-9 months.
- Marketing automation users report three times more leads passed to sales after one month. (Source: Marketo)
- Pedowitz's clients who use marketing automation report a 2-3x lift in conversion rates on raw leads to qualified opportunities. (Source: Marketo)
- ShipServ saw a 225% increase in the volume of prospects that converted to sales opportunities. (Source: Marketo)
- Companies that use marketing automation see 53% higher conversion rates and an annualized revenue growth rate 3.1% higher than non-users. (Source: Aberdeen Group)
- Gleanster reports that 74% of top-performing companies use automated lead nurturing.
- 96% of B2B marketers say segmentation is the most valuable method for improving conversion rates. (Source: Econsultancy)
- 79% of top-performing companies have been using marketing automation for more than two years. (Source: Gleanster)
- A study by CSO Insights showed that 89% of companies that aligned sales and marketing lead generation efforts reported measurable increases as a result of continuous nurturing.
- Marketing automation drives a 14.5% increase in sales productivity and a 12.2% reduction in marketing overhead. (Source: Nucleus Research)
- When asked to identify their primary revenue contribution drivers, the vast majority of marketers picked marketing automation systems (78%) and lead scoring based on content & engagement (68%). (Source: Lenskold and Pedowitz)
- According to invespcro, companies that excel at lead nurturing generate 50% more sales-ready leads at a 35% lower cost.
- Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate. (Source: CSO Insights)
These are just a few of the 100's of other statistics out there. Efforts to maximize lead nurturing and marketing automation will continue to evolve. Companies will have new best practices to report from their successes.
Want to be one of these success stories? You can get started with this guide to email automation with MailChimp: