Lead Nurturing = Incremental Sales

Posted in: AERIOS, Lead Generation by admin on 07/20/2011

When The Recession hit, some of our real estate clients were forced to spend more time “mining” their existing database of inquiries and prospects. For this they used a tried-and-true tool: the lead nurturing or “DRIP” program.

The result: They closed a number of sales they hadn’t expected — by simply staying front-of-mind as certain prospects’ changing life situations made them more open to buy.  It can be as simple as a new inheritance, closing a big business deal, or a referral at a cocktail party.

Here from one of our colleagues is an overview of how these programs work:

While the sales team will personally work the “hotter” leads, there needs to be a way to continually nurture the “cooler” leads – particularly during any slow season. A very effective tool for this is an ongoing “DRIP” communications program to existing leads.

Like an ultra-efficient drip irrigation program that waters plants a little bit at a time, the DRIP lead nurturing program sends prospects small “bites” of information at a time. Its basic goals:

  • Cultivate interest among cool to warm prospects.
  • Drive them to a site visit or sale – or to refer somebody they know.
  • Spark ideas – be front-of-mind as prospects’ financial or social circumstances change.

WHAT DOES IT LOOK LIKE?

  • The program touches each prospect 6-9 times a year with small notes that have a personal touch.
  • Interestingly, these days when our email inboxes are loaded with “updates,” the ol’ paper correspondence can actually be more effective in getting prospects’ attention.
  • It is important that each communication look like “personal correspondence” and not something “fancy that the marketing department created.” It is common (and very effective) to use handwriting fonts, margin notes, amateur photography, etc.
  • Each touch point is brief, topical, sincere – and most importantly: intermittent. This makes it special.
  • The messaging takes more of an educational emphasis than a sales pitch. Any call-to-action is very subtle.
  • It is crucial to keep each touch-point fresh. Vary the package itself with no repeated designs (i.e., avoid a series of postcards or boxes.)
  • As new leads come in to your CRM system, you can fold them into the DRIP “editorial calendar.” Do not send them prior pieces to “catch them up.”

A DRIP program runs in the background and “works while the sales team sleeps.” With a system like this in place, you are much more likely to see “cool” leads convert to warmer leads or sales.

While it’s important to introduce your product to NEW prospects, it’s just as important to stay in touch with those who already know you.

New sales can come from a variety of places. Make sure you’ve got them all covered.