The problem is that information abundance equals attention scarcity. This is known as attention economics. Social scientist Herbert Simon was the first person to discuss this concept when he wrote “in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients.”
Nurturing is so aptly named because it’s all about giving your new relationship what it needs to prosper. Some leads will want regular emails, some will want quick responses to questions on social media, and others will want an 800 number and a conversation to learn more about your offerings. Developing an effective lead nurturing strategy pays off: Companies that excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost and boast 9% more sales reps making quota than companies that struggle with nurturing.
Consumer behavior changes constantly, and so do opportunities for lead generation. That’s why it’s important to periodically revisit your strategies for capturing leads to take advantage of evolving consumer behavior and technical trends. That said, in addition to establishing a strong online presence, referrals, word-of-mouth recommendations, tradeshows, and networking are all still excellent sources of lead generation. But whether you’re contacting with prospective customers in person or online, you’re going to want to keep track of them digitally. We call that lead management. Let’s walk through getting your business started with it, shall we?