Lead Nurturing At Scale (S7E5)
What you’ll see this episode:
By this episode, you’re probably used to how a Bloxer goes through their day, and what you’ll see here won’t be any different – a mind-blowing entrepreneurial lesson, followed by a grueling challenge and an even more intense Blox-Off. You’ll see some new contestants sliding into the top 7 – how do they fare against one strong, repeat winner in the Blox-Off? As the final two days approach, everyone is putting forth their best efforts in the quest to claim the title of the ultimate startup on the Blox. The question remains: will it be enough?
The Battle of the Blox Continues…
It’s the morning of Day 3, and last night’s pod winners are treated to breakfast with the judges where they discuss their thoughts on the previous night’s Blox-Off. They meet up at The Grid with the rest of the Bloxers for their next lesson: Lead Nurturing, or essentially the backend of your marketing, and it occurs both before and after the sale. After class, we see the contestants truly taking their lessons to heart as one Bloxer is already implementing new practices in his business.
Day 3’s exercise has the contestants crafting a 3-minute pitch that explains the 3 main things they’d like to get across to their customer during the lead nurturing phase, as well as how they will distribute that info. The judges seem to have mixed opinions on how their pods went – while some thought it was the best day yet, other judges thought the contestants completely missed the logistics portion of the assignment. Luckily, they all have the day’s consults to really dive in and get it right and get mind-blowing advice from their judges.
And just like that, the third Blox-Off arrives and the day’s pod winners are announced. They’re immediately put on the spot with 3 questions about how they’ll scale their lead generation and lead nurturing. After some stellar performances, the night’s rankings are announced. Just like watching a football game, the race is tight, resulting in four teams who will don red jerseys the following day – and one contestant, who checks all the boxes, seems to be a clear judge’s favorite.
The episode closes with some of the Bloxers chatting about their emotional reasons for being here as well as what they learned from the day’s lesson. Meet us over at episode six to see what happens on Day 4!
Lead Nurturing At Scale
The analogy of treating leads like stray dogs highlights the importance of nurturing leads systematically. Just as you’d care for a stray dog by providing emergency care, welcoming it into your home, and conditioning good habits, leads need to be nurtured through specific steps.
Lead nurturing involves developing relationships with potential buyers at every stage of the sales funnel. While lead generation focuses on capturing customer information, lead nurturing centers on educating and informing them through the buyer’s journey. Effective lead nurturing has significant benefits: it improves conversion rates, reduces customer acquisition costs, and leads to larger purchases. It’s important to educate leads about your product’s features and benefits, and how to integrate those into their lives. To successfully nurture leads, prioritize clean and concise communication on key points: what your product does, its unique differentiator, and its safety and reliability. Utilize various assets such as videos, emails, and texts, and ensure they match the overall brand look and feel.
Email marketing is a powerful nurturing tool, with most people preferring to receive commercial messages via email. Proper email practices include trust, relevance, community engagement, integration, value, and effectiveness. Text message marketing is equally valuable, boasting higher open rates and being underutilized in nurturing strategies. Once you’ve proven your nurturing funnel’s efficacy, you can scale and automate it to reach a broader audience.
Key Takeaways From This Episode
- Lead nurturing is the process of developing relationships with buyers at every stage of the sales funnel, and through every step of the buyer’s journey. It focuses marketing and communication efforts on listening to the needs of prospects and providing the information and answers they need.
- Lead Generation is the process of creating attention for your venture to strangers and then converting that attention into customer information such as email addresses and cell phone numbers. This is all typically done through marketing.
- Treat every lead like they’re flight risks. Drip them these educational assets as opposed to one giant document or video. We can’t expect them to drop everything they’re doing and invest hours or more into their indoctrination.
- 74% of people prefer to get commercial messages from businesses via email. It’s the cheapest, easiest, fastest, most scalable way of staying top-of-mind.
- Text message marketing is just as scalable and automated as email marketing and with exponentially higher open rates.
The Blox: Season 7
- Guess Who's Back, Back Again: The Blox! (S7E1)
- The LEAN Machines (S7E2)
- Storytelling & Branding For Early-Stage Ventures (S7E3)
- The Greatest Show On Entrepreneurship Treks Forward (S7E4)
- Lead Nurturing At Scale (S7E5)
- Realistic Fundraising Structures For Early-Stage Entrepreneurs (S7E6)
- Tech Stacks Designed To Scale Small Businesses (S7E7)
- And The Winner Is... (S7E8)
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