Lead generation is essential for MCA providers to attract new potential businesses and grow their customer base. However, generating merchant leads isn’t enough to drive sales. Your job shouldn’t be limited to lead generation. After you generate leads, you have to nurture them on their way toward sales. By doing so, you will be able to move prospects from the top to the bottom of your marketing funnel.
On that note, let’s dive deeper into the world of business loan marketing and learn everything about lead nurturing.
What does Lead Nurturing Mean?
Lead nurturing is nothing more or less than building meaningful relationships with your leads throughout their customer journey. You can do it in many ways, such as engaging prospects with the right content at the right time.
Why do You Need to Nurture Leads?
Since building and maintaining relationships is essential for MCA businesses, lead nurturing allows you to be active on the channels where your prospects are. You can engage with them and boost the probability of them starting a business relationship with you. On top of that, lead nurturing also helps them to get to know your business.
Most leads will be less likely to do business with you, especially when they aren’t ready to buy. So, you need to know how to nurture them until they are ready to buy. It allows you to educate and inform them, so you can establish trust with your merchant leads. Here are the key benefits of lead nurturing.
- Better Sales-ready Leads
It’s true that businesses implementing lead nurturing strategies can generate up to 50% more sales-ready leads. This is because relevant content or information about the loans you are offering helps businesses convert prospects into quality leads.
- High Average Order Value
With the right lead nurturing strategy in action, you can leverage any cross-sell and upsell opportunity. You can inform customers about other services and contribute to increasing the average order value. In fact, nurtured leads make 47% bigger purchases compared to non-nurtured leads.
- Low Acquisition Cost
Lead nurturing often includes cost-effective strategies to attract potential customers. There is no need to spend a lot on customer acquisition, which contributes to higher ROI. In fact, lead nurturing can cut acquisition costs by 33%.
- Positive Building Reputation
Finally, lead nurturing strategies help MCA businesses build a great reputation as an industry leader. When you distribute thoughtful, educational content, you can earn credibility with the target audience.
As You Can See…
Active lead generation isn’t enough when it comes to ensuring desired sales. You also need to nurture your essential business leads by providing them with content relevant to their requirements at each stage of their customer journey. We hope you now have a better understanding of lead nurturing.
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