What's more important? Lead Generation, Lead Nurturing, or a balance?
Hey IndieHackers,
This week, my team and I encountered an interesting debate regarding the significance of lead generation versus lead nurturing in the sales process. While some organizations have achieved success with either strategy, we were uncertain which approach was more effective.
What's your take on this?
Would love to hear some insightful tips and strategies.
I think it's all about the stage your company is at. For example, if you have an amazing product that converts leads at a very high %, then you would like to focus more on generating as many leads as possible.
And the opposite. If you're attracting a lot of leads, but your conversion rate is low - you would like to focus more on lead nurturing. A big part of marketing is spotting and improving the weak segments in our funnel.
right!
thanks for the feedback
It's always cheaper to follow up than to find a new customer.
true, but won't that also mean we are at a saturated stage?
and their is no guarantee all those present would actually stick with us right.
The point is the cost is only one way. It costs me 14 cents per potential user per year to keep them on my convertkit email list. (roughly speaking) and they might turn into a paying customer.
It costs me at least $1 to acquire someone to that email list, a customer, via PPC. And honestly in the early going before PPC or without advertising, if you calculate hourly rate, it's probably much more like $5 to $20 per customer or even per lead, when you're just doing content marketing and SEO. (early on)
There for a customer I already have costs way less to keep on my email list and email once a week than it does to acquire that potential customer in the first place.
oh, now it makes more sense.
this gave me more clarity on what you mean
thanks for this
and I do feel now nurturing is better when it comes to cost