Why You Should Utilise B2B Lead Nurturing Strategies
B2B lead nurturing strategies are the key to keeping your lead costs as low as possible. One of the main costs associated with lead generation is the initial data collection process. Therefore, it is key to ensure that any and all leads are nurtured as carefully as possible. This involves a few core elements:
There are three core types of B2B Lead Nurturing Strategies that need to be sorted accordingly:
This is the most straightforward form of a lead enquiry. Quite simply, a customer looking to buy a product or service would approach your company with a fixed quote. There may even be some additional stages – such as present add-ons – but contact between you and the customer is limited and to the point.
Not all customers are sold on the initial sale. Some look for further clarification before ordering. This can be a great opportunity to nurture the lead into a potential state of sale. The customer may already have an awareness of the product or service. However, they might simply need further justification about buying from your company.
Problem Solving Enquiries
Leads of this nature may not know much about your product or service – they are just aware of the problem they have at hand. Unlike your average service enquiry, this type of lead isn’t just apprehensive about your ability. They don’t understand it. However, they have reached out how to solve their problem with your product or service.
Cost of B2B Lead Nurturing Strategies
It’s not a consideration. It’s a necessity.
In our experience, after 12 months of running any campaign, the best cost per lead has always resulted from SEO. This doesn’t mean this should be your only method of lead generation – not by any means. However, if you have a fixed amount of money you can allocate each and every month then it makes the most sense to apply it to the lowest costing method. To effectively cost up a strategy, you may need to be aware of the following:
Your Yearly Budget
No matter their size, successful businesses depend on the effectiveness of the planning process. The most critical element of which is how much the business can afford to spend.
Divide this by 12
Once the budget has been settled, simply divide this by 12 – at first. Certain months might require more traffic than others but this would be best decided later on into planning.
Allocate Your Funds
Split your costs between the channels you hope to use, e.g. SEO, PPC or emails in the correct proportions (our marketing team can advise on this after some research into your business).
Review your Strategy
Many clients start with a higher PPC budget only to reduce this when their SEO campaign takes shape. This is often when they become less dependent on the “quick fix methods”.