HIVE Digital Strategy has been a HubSpot partner agency for a little over a year and is currently working with various clients who use the HubSpot software. We've talked a little generically thus far about some of our favorite aspects of the HubSpot software but in this post, I wanted to dig a little deeper into some specific results we were able to accomplish with one of our clients who is using the software.
In the past couple of weeks we've talked about the importance of lead nurturing campaigns and why you should be using workflows as a part of your lead nurturing strategy. You've learned that the lack of lead nurturing is the reason that a large portion of leads never become customers and you've learned that automated email workflows can help you stay in front of these people with little manual work required. Chances are that, at this point, you're sold on the fact that you need to have a lead nurturing campaign and that email workflows need to be a part of that. If you're still on the fence, consider these stats:
- 60% of companies who use marketing automation say it has increased the quality of the leads that get passed to sales..
- Leads that go through automated workflows have a 23% shorter sales cycle. This means that it takes less time and manual effort to close them into customers.
- 80% of marketers who utilize automated marketing saw their leads increase when they implemented automation.
- 77% of companies saw their conversions go up when they implemented automation strategies.
So now you know you need to be using automated workflows, but where do you start? What types of workflows should you try first?
We usually recommend starting small so you can get an idea of how your workflows are functioning and the process that goes into them. Here are three types of workflows that usually work well for all types of businesses:
In a previous blog post titled Why You Can't Afford NOT to Have a Lead Nurturing Campaign, I talked about the importance of capturing leads and staying in front of them. If you've read that post, you might remember that 79% of marketing leads never convert into sales. Lack of lead nurturing is the common cause of this poor performance.
We know that staying in front of our leads is a crucial component of moving them through the sales cycle and eventually converting them into customers. We also know that email is the major tactic that we use for lead nurturing. But keeping up with regular email marketing to your database can be incredibly time consuming, especially if you're sending targeted emails to different lists based on their behaviors. This is where email workflows come into play. Let's examine what an email workflow is and how it can help your business.
As those of you who have consistently read our blog posts or have chatted with us about inbound marketing likely know, inbound marketing does not stop once a visitor has become a lead. Instead, inbound marketing is all about touching potential buyers at every stage of the buyer's journey and helping move them through the sales cycle to become customers (and eventually promoters). One way we do this in inbound marketing is by implementing lead nurturing campaigns. Let's look at what lead nurturing is and why you can't afford to ignore it.
A common marketing goal for most companies is to find new customers and increase the size of their database. Touching more people and gaining new customers is a great goal but, while this is something that every company should be reaching towards, many companies end up focusing so heavily on this goal that they overlook the opportunity they have to nurture their relationships with current customers and encourage repeat business.
The relationship with current customers is something no one can't afford to ignore. These people have already bought into your company and product, you've already sold them and taken them through your entire sales funnel. They believe in your company. Don't let that be the end of your interaction with them! Turning your current customers into repeat customers can be huge for your business. In fact, did you know that the probability of selling to an existing customer is 60–70% and the probability of selling to a new prospect is 5-20%; (that’s up to 14 times more, or 5 on average). In addition, returning customers spend on average 67% more than first-time customers. You already have an established relationship with these people and you cannot and should not let that relationship fall by they wayside.
While there are a lot of inbound marketing tactics you can (and should) use to communicate with your current customers and help encourage repeat business, today I want to address one of most direct touch points: email. So, why is email marketing important for growing return business? Let's take a look...
We've already learned that email is an important component of the convert stage of the inbound methodology (as outlined in Dustin's (@DBrackett88) Inbound Marketing Services: Converting Leads to Customers blog post) and we will learn about how it can also help us in the delight stage as he wraps up his inbound marketing services blog series. But there's something else I would like to address in regards to email marketing...
We've all heard some version of it... Email marketing is dead. Email will be obsolete in (fill in the year). Email marketing doesn't work anymore. Well I'm here to tell you that those conspiracy theories just aren't true. And they won't be true. For a very long time. But how do we know that? And why is email marketing important?