At Disruptive Advertising, the marketing funnel is a key part of how we approach every client’s marketing. Getting into specifics about which tactics work best under which conditions in which stages is beyond the scope of this article, but if you’d like help setting up your own marketing funnel, let me know here or in the comments. Or, for additional content, check out this blog post.
Content that introduces the company and intrigues potential customers enough to move to the next stage of the buying process. For example, a Facebook post called “Behind the Scenes at Molly Marketer’s Company. This works especially well if you have a company with a corporate citizenship mission, such as selling sustainable, environmentally friendly goods.
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The truth? People are smart. They're not simply going to buy anything from anyone unless they feel there's an immense amount of value to be had there. Thus, your funnel needs to built that value and bake it in through a variety of means. But most importantly, you have to create a strong bond with your prospect, and that happens by being relatable, honest and transparent in your email warming sequence.
If you’re running a consulting business, for instance, your clients already realize that they’re having certain problems around your service area – like disorganized spending (if you’re in accounting) or a high cost per lead (if you’re in marketing). On the other hand, if you’re running a software development business, your client could be having problems with absolutely anything right from the hours being consumed to other factors that affect deliveries.
Of course, regardless of how they enter into your funnel, your goal as a marketer is to move them through the multiple stages that will take them from prospect to buyer. And once they're aware of you, you need to build their interest. To do this, you need to establish a relationship with the customer. You might have enticed them with a great offer (lead magnet) to grab their email address, but actually moving them through the funnel is a far greater challenge.
“Aligning marketing and sales during the sales funnel does more than just align the teams — it creates better business outcomes,” said Mathew Sweezey, Principal of Marketing Insights at Salesforce. His stance is validated by a SiriusDecisions study that found brands with tightly aligned sales and marketing operations achieve 24% faster three-year revenue growth and 27% faster three-year profit growth. The three easiest ways to ensure marketing and sales alignment will succeed is a common language, co-created shared programs, and a policy to abide by a service level agreement.
Understanding the concept of marketing funnels is crucial for success in business because it’s a useful model for visualizing the customer’s journey from initial awareness all the way through conversion. When you design your marketing funnel with the help of these tips in a careful manner, it will, in turn, provide you with a useful framework through which you can analyze your business and identify areas that require improvement.
“Time is money for a rep,” said Tony Rodoni, Salesforce EVP, Commercial Sales, and Market Readiness. “You need to know the most important thing to do right now, and what to do next. If you’re not clear on which opportunities are accurate, you’re relying on your memory to know which ones need work. As you take on a bigger book of business, with more opportunities, quarter after quarter, relying on your own memory means mistakes and wasted time.”
One of the main reasons for giving out this free content is to get prospect to give you their email address in exchange of an opt-in offer. This could be mini-course, download, cheatsheet or report. At this stage your email marketing provider must provide you automations, meaning emails are sent without your involvement and as per your defined actions.
Data insights are again the key to funnel optimization. Three other data-driven technologies follow analytics and sales reporting as the most popular sales tools: account and contact management (65%), sales forecasting tools (56%), and customer relationship management (CRM) systems (58%). The latter is a particularly crucial tool for optimization, enabling your business to organize all customer-related data in a central location.
No matter what kind of purchase customers are making or how much they plan on spending, all of them follow a fairly identical path when it comes to deciding what to buy. This process, or the different stages it is composed of, was first introduced by John Dewey in 1910, but even now — more than an entire century later — it still is the ultimate basis of comprehending buyer behavior and marketing funnel creation.
On a macro-level, a sales funnel will start with a large number of potential buyers at the top Based on certain criteria, this pool of potential buyers is reduced to a fewer number of prospects. Towards the middle of the customer journey, the number of prospects reduces to a handful of opportunities, and after the decision-making stage, the sales process ends with a closed-won or closed-lost deal.
Your automated sequence of emails needs to reflect the different stages of the sales funnel process as depicted in the diagram above. Automated emails ideally should guide your prospective students somewhere from the “interest phase”, where they have signed up for a newsletter or downloaded a lead magnet, through to purchase of your course. This requires a good bit of thought to create the right messaging, frequency and content offer.
Time in stage – In an ideal world, your marketing content would be so compelling that people move from the top stage to the bottom stage in a single day. But since that’s rarely the case, it’s worthwhile to know if your prospects are getting hung up in one of your stages. If so, you’ll want to add more content to your site that answers the questions that are unique to this stage of the funnel.
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This lead capture software ranges from simple to complex. You can have a landing page that captures the data, or you can sign up for a system that tracks your user's accounts once they sign in. You can see what products they looked at, what pages they read and, judging from their account activity, you can see how likely they are to become customers.
One quick word of caution, though. With every piece of content you create for every stage of your funnel, you’re generating data. Though all of it is useful to your sales process in some way, it’s easy to get bogged down in data and metrics tracking instead of focusing on the few key performance indicators (KPIs) that will actually give you the information needed to make meaningful improvements.
Of course, implementing this isn't easy. You need to first develop your stories, then decide on how you're going to convey those stories and at what drip-rate. For example, your first email or two might go out on the day they first signup, then one email per day might go out afterwards. How much of that will be story-based and how much will be pitches?