Contact us anytime to know more — Abhishek P., Founder & CFO CISIN
Lead generation alone shouldn't be your focus - nurture plays an essential part in sales strategies and should form part of an overall plan.
Lead Nurturing: What Is It?
Lead nurturing refers to cultivating relationships with leads to convert them into customers.
Communication is pivotal in any successful relationship, and lead nurturing is no exception.
Consider how many relationships fall apart due to inadequate communication; you want to avoid the same thing happening with your prospects! Choosing appropriate words at appropriate moments to build rapport and expand a relationship further, eventually popping the question will become possible.
By "popping the question", I refer to your pitch; "getting married" refers to closing your sale.
SaaS Lead Nurturing
SaaS Lead nurturing for traditional businesses involves selling more of your product.
Once interested parties express interest, your sales team should address any queries or issues the leads might raise.
SaaS offerings for businesses differ considerably from consumer offerings in that demand generation may be required before leads understand its purpose and benefits.
You must show leads how it solves their specific needs before any understanding can occur.
Want More Information About Our Services? Talk to Our Consultants!
Lead Nurturing Strategies
Building a relationship and closing a sale with someone unprepared for sales can take time and effort.
Communication is key.
These strategies can assist your lead nurturing.
Multi-Channel Marketing: As every buyer differs in communication platforms and methods of reaching prospective clients, you should use as many methods as possible to keep in touch with leads and prospects.
Email Communications SaaS B2B communications usually occur through emails.
Unfortunately, not everyone has time or inclination to read all their mail; you should try making each message more enjoyable by offering freebies such as eBooks or items; discount offers could also keep readers' attention.
Website: Your webpage is essential in making an excellent first impression.
Your design must be appealing visually while offering visitors an exceptional user experience; its content must address any queries your visitors might have and any unanswered inquiries; live chat tools allow potential leads to ask their queries directly, keeping prospects engaged throughout.
Social Media: People may ignore emails but can't avoid social media updates - today it has become one of the primary marketing platforms available to businesses.
Social media interactions provide an ideal avenue for developing relationships with prospects. You can influence them by responding to their comments. SMS/phone calls have proven themselves as powerful methods for building customer relationships.
At the same time, emails tend to be less informal yet more engaging, giving you a greater chance for a response from prospects.
Mobile technology: can be a precious way of creating leads and nurturing them, with visitors now being able to track when they visit your website and then follow up quickly on them.
More users than ever before are viewing websites via mobile devices, so make sure yours looks fantastic on them, too.
Ad Retargeting: Have you seen ads featuring products you recently looked at online or in physical stores, known as retargeting ads? Although it can seem creepy that ads know your interests so precisely, they got your attention anyway!
Retargeting may help your potential customers move beyond window shopping to actual shopping mode more rapidly.
1.You Can Target Your Content.
What would get your attention, and which of two statements would appeal to you, one with general meaning or one tailored directly to your interests?
The answer seems clear: if an email or message is relevant and relevant to their interests, potential customers are much more likely to open and read it.
Segmentation is the starting point. Create several lists and categorize prospects according to factors like geographic location, company size and prior interactions.
Innovative lead segmentation software allows grouping leads according to their website behaviour, interests and lifestyle preferences - with business intelligence tools necessary for gathering these insights.
Your segmented audiences can receive customized messages based on information you possess about them. For instance, those for small businesses can have messages featuring lower-tier plans, while more casual messaging for young audiences could include tweets about current trends in fashion or music.
Content that is focused will allow you to nurture leads, continue the conversation, and ultimately close sales.
2. Score Leads
Prioritizing leads with the most excellent chance of becoming sales is one way to boost conversion rates and decrease time requirements for closing deals.
Doing this increases the chances of closing the sale and the speed of execution.
Employing lead scoring makes it easy to determine which prospects merit your full consideration objectively and eliminates guesswork when selecting leads.Lead scoring involves assessing the likelihood that each lead will result in sales; scores typically range from 1-100.
Your prospect's company, work industry and job title are all factors in scoring them; you could use more prestigious firms or roles when scoring leads to increased scores.
Points can be awarded based on how engaged leads are with your company, including visits to its website, emails opened/clicked through, and engagement on social media platforms such as LinkedIn, etc., as these interactions show signs of engagement, which add points towards lead scoring.
Specific actions can also help lower a lead's score; unsubscribing from emails for instance indicates the prospect has lost interest in what your product or service offers.
Intelligence on your leads is paramount for accurate scoring - more details, greater precision.
Content marketing and lead scoring go hand-in-hand; both can help ensure that targeted content can be distributed at the right time and place. By accurately scoring leads, content marketers will know when it is most relevant for delivery. The timing of events is crucial.
3. Engage In Drip Campaigns.
Drip campaigns effectively distribute emails or SMS at precisely the right moment, automating their delivery in just the correct sequence.
Do drip campaigns work automatically?
Absolutely. The frequency and timing of these messages depend upon when they were sent out in an autoresponder campaign.
Your new lead has just created a trigger that activates an email drip campaign to introduce your SaaS product and company, sending out their most popular blog posts as promised every few days until, eventually, diving right into their product - then moving onto something else altogether!
Your drip campaigns should take account of user behaviours. A prospect could visit your site and spend significant time considering one of your subscription plans; an automated campaign would then send an email outlining all the features and benefits they will gain by choosing that plan.
Drip campaigns require marketing automation software - which may be expensive. Drip campaigns save time manually sending out messages and increase conversion rates when sent at their appropriate times.
4. Create Analytics And Reports.
Acknowledging how well your campaigns are doing is another essential aspect to consider: adjusting and increasing sales.
Click-through rates: This metric indicates the percentage of leads who clicked links within your lead nurturing email and opened them.
Click-through rates can be affected by several variables. Content and relevancy to the targeted segment can have an effect, while design elements or Call To Action (CTAs) could also impact the click-through rate.
Not only must you analyze metrics, but you must also test them. Compare Call-to-Action (CTAs), their click-through rates and designs against one another.
Length of Sales Cycle (the length of the sales cycle ) measures the time required for leads to convert into purchases and can also help determine where leads sit in your sales pipeline.
You can gain more information regarding when these leads move between phases in your pipeline by performing detailed analyses.
This metric can help identify bottlenecks within your sales funnel and may reveal differences between lead segment averages for sales cycles.
This allows your pipeline team to identify key strengths and red flags within its framework.
Cost Per Customer/Profit: This metric gives an approximate understanding of lead nurturing's worth; to calculate this figure, multiply the expenses related to it by sales volume.
Before beginning an advertising campaign, it is necessary to calculate your Average Revenue Per Customer (ARPC) to understand how profitable each customer will be.
Divide all the total advertising campaign revenues received into how many clients this generated during a particular ad campaign and divide by that total. Subtract ARPC from ARPC to determine profit per client.
Doing a deeper dive into the content you add to your website or other channels for lead nurturing can yield invaluable insight into its performance and effectiveness.
Check out this guide on measuring the performance of SaaS-based content.
5. Use CRM Software
CRM software enables you to visualize and track your pipeline of sales leads. Furthermore, CRM databases may store contact info that could be utilized in targeted content marketing initiatives.
Advanced CRM solutions address these strategies, helping manage communication across various channels while scoring and segmenting leads and running drip campaigns.
There is free CRM software available. However, essential tools to organize contacts and communications could assist your lead nurturing efforts.
Read More: How are B2B SaaS companies balancing high growth with capital efficiency
Typical Errors In Lead Nurturing
Even when your SaaS is fantastic or your sales strategy is well-planned, errors can significantly reduce conversion rates.
To prevent unnecessary losses from lead nurturing campaigns running incorrectly. Knowing some common pitfalls as part of any lead nurturing plan is helpful.
Be wary of these common errors:
1. In A Single Campaign, All Leads
Personalizing and targeting email content has already been stressed; I cannot stress this point enough!
Your leads include people in various industries and locations - each unique! One generic campaign will quickly lose their interest.
To maximize results and retention rates, segment and customize each email sent.
2. You Can't Promote The Product Early
Lead nurturing should go beyond selling; instead, it must focus on nurturing leads effectively.
Primarily, it involves priming prospects for the sales process by building rapport and trust with them; any premature pitches could damage this critical relationship.
Engage and educate prospects about the issues your product solves.
3. Making Too Many Calls To Leads
Sending them daily emails could annoy leads and ensure you end up in their spam folders.
As leads, these employees likely demonstrated interest in SaaS when given a choice; therefore, they do not need constant reminders.
Please do not wait too long before reaching out; don't allow them to forget you exist! Consistency is paramount; an ideal schedule would involve engaging them every two or three days with content in various channels and mediums.
4. Tests Are Not Being Conducted.
Even if your lead nurturing campaign has proven successful, there's always room for improvement.
A/B testing provides one way of testing different versions of content to see how different audiences react and which receives the more significant response.
As previously discussed, A/B testing for email can help increase its click-through rate.
When running A/B tests for email campaigns, subject lines, colour schemes, fonts, and CTAs may be changed for A/B comparison purposes. Nurturing leads across different channels, not just email, is best.
Test A/B on different channels by switching up the day of the week, adding media content such as photos or videos and altering both content and style of posts or messages.
Without testing your campaign, you risk forfeiting sales opportunities.
Lead Nurturing Cross-Funnel Strategies.
1. Email Auto-Responders
Email auto-responders send automatic responses when certain events occur, most commonly to notify users who have taken significant actions, such as signing up for your Platform.
An email confirmation email is automatically generated in this scenario.
Your auto-responders can be set to react based on any user action. For instance, sending emails to leads who repeatedly visit one page would demonstrate its significance as an attraction point for buyers.
Your users could benefit from receiving an email after visiting several pages that disclose their priorities and use cases. Your leads should also receive emails when they achieve important milestones, especially if they progress further down your sales funnel.
An auto-responder allows you to automatically email those prospects who still need to complete their next step in their customer journey or funnel.
An example would be downloading lead generation material but not signing up within a set period or finishing onboarding but not returning within days - an auto-responder would automatically send these reminders!
2. Automatic Dynamic Emailing
Dynamic email automation systems utilize event triggers to assign new leads automatically to marketing lists, sending out notifications as soon as they complete a specific action or don't - while moving them onto different lists as they progress further through your funnel.
Add visitors who visit your pricing pages into one email list and send an encouraging message encouraging them to enrol in a trial offer or discounted paid plan.
Users who reply to emails are added to lists for marketing (for instance, free trial users are added to marketing lists (like Beginner plan users).
Furthermore, recipients who don't respond are added to another group depending on the actions they take (or don't).
If leads don't respond, send out different responses than those who open and don't take further action on your message.
Repeating this process entails asking yes/no questions on target actions to elicit responses and trigger actions accordingly.
Utilize dynamic email automation for lead/customer scoring and qualification purposes to prioritize those most valuable to your company, for instance, according to their Net Promoter Score (NPS), an indicator for measuring customer loyalty.
Targeted campaigns to strengthen customer loyalty when declines are possible; you could develop strategies to increase the NSP average among all your users to drive subscription renewals and ensure renewal rates remain healthy.
Effective SaaS lead nurturing requires dynamic email marketing strategies. Set up sequences that cover every stage of the customer journey; each response will result in action taken next.
3. Customized Content Throughout the Customer Lifecycle
Dynamic email marketing enables marketers to deliver relevant and valuable content as prospects navigate marketing lists - not limited to incomplete or targeted actions.
Utilizing email marketing software, lead scores can be assigned. These represent the likelihood that prospects become customers or upgrade them to higher plans.
An email marketing program requires some form of tracking - this process is known as site tracking in platforms like ActiveCampaign or HubSpot. Site tracking provides an effective means of keeping tabs on what pages your leads visit on your site.
These data points can be leveraged into automation campaigns by setting off events on page visits or taking other measures - for instance, targeting prospects who have downloaded lead magnets while visiting pricing pages could be an example.
Imagine this: someone has visited your price page, downloaded gated content about your product's features, and downloaded some gated material related to these same features.
By automating email campaigns that target these same features and offer incentives to sign up for your product and provide more profound content, sending similar reminder emails can become automated and explicitly tailored towards each feature, or an incentive of interest for them can become routine practice.
Lead Nurturing Strategies For Awareness (Top Of The Funnel)
4. Free Tools
This strategy has been covered extensively yet remains one of the most potent tactics available for SaaS businesses . You can even utilize it for lead nurturing purposes to bridge awareness to conversions.
HubSpot's Website Grader can be an effective tool for helping to qualify prospects who may still need to be ready to purchase your products or services.
HubSpot makes sure its free tools are easy for customers to use; its Website Grader only needs email and website URL to perform analysis - the Instant Report feature gives immediate insight.
This report can offer users valuable feedback that immediately affects their businesses, making this an excellent way to build a connection without incurring an outlay of capital or resources.
HubSpot's paid products should appeal to any web admin looking to enhance business results now or later.
HubSpot's free software enables users to take advantage of premium tools without incurring an expense.
HubSpot is not alone in taking this approach - in fact, any company selling marketing software or business performance solutions often takes this route.
Moz is another outstanding example, while Crazy Egg uses an equivalent strategy on its homepage.
5. Product Reviews & Comparisons
Prospects at the awareness stage can learn to assess your product by providing product comparisons, reviews and content that directly compares its direct competitors with your offering.
ActiveCampaign provides visitors with an in-depth comparison review series that helps explain why it stands out among other platforms available today.
As can be seen from ActiveCampaign and HubSpot comparison charts, each product offers certain similarities in features, price and pros & cons that might influence one decision over the other.
Comparison reviews can also assist in setting apart your product from others available in its target market by emphasizing its key selling points without criticizing competitors' software.
Keep a keen eye on how your competitors compare themselves. Please pay particular attention to any points they raise and key areas they emphasize when portraying their software as superior.
Optimize your comparisons so they appear organically when searching "[software] against [software], then send out email campaigns targeting leads in either awareness or consideration stages of your funnel.
Bid on brand names of competitors' products so your reviews appear at the top when people search them online.
6. Lead Nurturing
Data is your most precious commodity; it enables you to send targeted communications throughout your lead funnel and deliver relevant messaging directly to prospects.
With enough data, communicating relevant messages can happen successfully.
SaaS providers enjoy an advantage by gaining access to relevant customer data at later stages but need help to capture such details upfront.
Maintain a balance between gathering the required information to convert leads into sales and asking only a few unnecessary queries.
Read More: What are the SaaS Business Metrics that Matter Most and why?
Lead Nurturing Strategies For The Middle Of The Funnel.
7. Highlight The Best Of Your Product
Displaying the benefits of your products to prospective clients in an honest way is critical for business.
Case studies, positive reviews and stats that quantify its effect can all be essential to doing this effectively.
If you sell productivity software, such as productivity suites, include case studies of successes from existing clients and embed reviews onto your website.
Furthermore, get numbers to demonstrate how the product increases productivity or how many additional hours each team member gains from using it. ConvertKit publishes many customer success stories known as "creator tales".
Entrepreneur's Platform caters to entrepreneurs, freelancers and anyone starting an online business.
Creatives may find this series particularly insightful as its case studies demonstrate how creatives can build and monetize an online profile more efficiently. Creatives are at the core of every narrative; that is precisely what its protagonists want!
Slack does an outstanding job 0at demonstrating its value through quantitative metrics.
Slack wants to persuade professionals that an improved communication tool such as Slack is superior to email, using numbers as support.
Stats on Slack's homepage reveal that 91% of its users feel more secure about working remotely, 84% feel closer to their team, and 75% consider Slack essential for getting work done.
In addition, numerous compelling arguments support signing up based on feedback from existing Slack customers.
Both cases demand that your marketing message emphasize how existing clients have benefitted from using your product; when prospects hear how beneficial your solution has been for others, their desire will increase naturally for themselves to do the same thing.
8. Difference
Differentiate your product from other offerings to stand out. Recognizing what sets you apart from competitors is crucial when developing products with unique selling points that stand out.
Compare Reviews is an integral strategy if your SaaS business operates in an increasingly competitive market.
Lead Nurturing Strategies For Conversion (Bottom Of The Funnel)
9. Onboarding
SaaS companies often require an onboarding process for new users to begin using your software effectively and consistently.
The more complex this procedure becomes, the risk users may leave before fully installing and utilizing it.
On the other hand, more complex onboarding processes may encourage users to stay with your software by capitalizing on several psychological forces like sunk-cost fallacy or bonus effect.
Everything will depend upon your goals and the complexity of the product in question. Slack's goal of increasing user numbers requires friction-free onboarding to succeed. Finding an optimal combination of motivation and simplification when setting up complex paid platforms requires an equilibrium.
Onboarding processes must maximize the number of individuals completing them while still giving them all of the tools (features and settings) required for optimal usage of your software quickly and enthusiastically.
You want users to embrace using it enthusiastically! CleverTap has created an informative infographic which depicts a typical SaaS onboarding process. Onboarding services are always available to assist lapsed users back onto the product.
If they do not complete the setup of their software purchase, offering assistance may help solve their issues or identify why it has yet to be utilized.
Soon after registering for Dropbox, an email onboarding me told me my account was almost ready and to complete its setup by clicking a button.
10. Collect Website Feedback
At the outset of this article, we discussed email feedback tools and websites; now, let's put them to good use by gathering visitor interaction data as you monitor feedback streams to your website and understand why visitors don't convert into leads or sales.
Collecting feedback as visitors interact with it may uncover valuable insight as to why certain visitors fail to convert into sales leads or purchases on your Platform.
Users clicking your CTA on your pricing page are taken directly to an account creation page; use feedback forms if users appear disinclined to create accounts immediately.
Hotjar provides an effective tool for quickly creating feedback forms by specifying a URL.
Follow-up emails sent to leads who have signed up for one of your lists can provide invaluable insight into user experience issues or barriers to conversion and gauge incentive levels during conversions. If many customers who click your "sign-up" button are yet to buy your product but have provided feedback, reworking pricing may be worthwhile to increase the incentive to click.
11. Guides & Tutorials
Guides and tutorials make great content to generate leads while nurturing SaaS customers through conversion, onboarding and early usage of software products.
Make sure that new users can utilize your software at its maximum capacity and reap maximum value as quickly as possible to retain them for as long as possible.
This will increase retention. Your users want to avoid signing up for your product only to tinker with its settings and never fully embrace its benefits.
Your goal should be to integrate your software seamlessly into their lives and add value in ways that facilitate renewals while creating revenue from subscription services.
As an educational resource, SaaS providers typically offer their customers extensive support materials available via their websites - ActiveCampaign University is one example where customers can learn new platform skills.
ActiveCampaign shows its true power by informing its users about all its features, giving them all the resources required to utilize its software effectively and providing tools necessary for making full use of this marketing solution.
Designing complex products with multiple features should take this factor into account.
Want More Information About Our Services? Talk to Our Consultants!
Conclusion
Acknowledging prospects is crucial in lead nurturing. Not only can this enhance initial conversations, but by getting to know your prospective leads better, you can provide better service for existing customers.
In contrast, simultaneously attract new ones through behaviour-based marketing techniques. Automation can also help. Compare two screwdriver options: standard and power.
An ordinary screwdriver does the job just fine, but with an electric tool, you could accomplish much more with just one press of its trigger - saving both money and time! However, power tools tend to be expensive but more effective in terms of productivity than their counterparts - saving valuable hours of your day when used efficiently.
SaaS lead nurturing solutions require additional expenses; for instance, software for CRM, drip campaigns and lead scoring may need to be purchased if they will help make nurturing leads successful and efficient.
SaaS customers are part of an ever-evolving cycle, meaning the nurturing process never ceases. An initial payment marks only the start of an extended relationship built around renewals, upgrades and revenue-driven growth. This article aims to lead your prospects through each phase of the customer life cycle, detailing every necessary action or commitment at critical moments. Each customer represents a long-term commitment that requires special care during these critical encounters.
