Optimize Leads at All Stages of The B2B Sales and Marketing Funnel
- Apr 22, 2020
- 5 min read
B2B Marketing in today’s world is more complex than ever. Personas are complicated, Marketing technology stacks are ever-evolving, marketing channels intertwined.
You want to build a marketing experience that generates, meaningful customer engagements both online and offline, high conversion rates powered by marketing automation, and omnichannel marketing. All this to drive one thing, Growth!
B2B Sales and Marketing Funnel- Full Funnel Optimization
Your B2B marketing activities should be supported by marketing automation technology and other tools to ensure a seamless and leakproof funnel(B2B Sales and Marketing Funnel). Key to B2Bmarketing success is a well-defined sales and marketing process with distinct Top of the Funnel (TOFU), Middle of the Funnel (MOFU), and Bottom of the Funnel (BOFU) tactics.
Lead Generation at Top Of The Funnel (TOFU)
B2B Marketers tend to focus on volume at the top of the funnel (B2B Sales and Marketing Funnel) and get as many leads to engage at the very top of the funnel. The key to filling your funnel with the right leads is a balance between volume and quality of leads.
The focus should be on getting high-quality leads, prospects who are a good fit for your product or service. This can happen only when you understand what your ideal customer looks like so that you can develop the right strategies to attract them.
For TOFU success invest in understanding the buyer’s personas and their pain point. You should produce and promote content that provides value to your ideal customers to make them believe about your expertise; this is what you should publish:
- Blogs and articles that establish your credibility
- Downloadable assets like white papers etc that serve as lead magnets
- Engagement focused content like online quizzes and benchmark studies
Image Source: HingeMarketing
Nurturing Leads at Middle Of The Funnel (MOFU)
It is a known fact that the businesses that excel at lead nurturing generate 50% more sales-ready leads (The Forrester Wave™)Most of the B2B marketers often skip this step and all leads from TOFU are handed directly to sales.
Leads at the TOFU should be scored and graded and only high propensity leads should be sent to sales for follow up.
The key to playing a successful b2B sales game is pitching a sale to your lead at the right time- not too early, not too late. All leads that are not sales-ready should be nurtured using quality content that keeps them engaged.
As published by Implicit, for B2B companies it takes an average of 84 days for a lead to progress from initial interest to the qualified sale. Keep your B2B sales and marketing funnel tight and nurture them throughout the process.
Sales Conversion at Bottom of Funnel (BOFU)
BOFU is the narrowest point in any B2B Sales and Marketing Funnel, having a high risk of tripping at the final line. This is the point where all your efforts made from TOFU and MOFU pays off. You might be dealing with indecisive prospects; who are holding back their buying decision because of many reasons, such as:
- They still comparing your product with the competitor's
- They are exploring more about the value they will get
- They may have few unanswered queries in their mind
You should follow ASK process to convert sales at this stage of your B2B sales funnel.
Align priorities - make your prospect believe that you know his specific pain points, and how to address them.Secure commitment - Make sure to address his further questions (if any) and reinforce him to close the deal by explaining how your solutions can benefit them.
Keep the relationship alive - Even if someone says "No," you shouldn't terminate the relationship. Find ways to check on them when they next look to buy.
Not only can this enhance the chances of having them as customers in the future, but their feedback can also help you in optimizing your B2B Sales and Marketing Funnel.
Power Of Retention and Referrals
Your B2B Sales and Marketing funnel isn't just about fetching new leads; it's about retaining the existing ones also. One classic (& common) mistake made by many businesses is; assuming the end of a relationship with the customer once the sale is converted. You know 84% of B2B decision-makers' buying journey starts with referrals; in fact, leads generated from referrals are 3 to 5 times likelier to convert. That means you need to learn how to retain the relationship with your customers and how to pursue him to refer you to others.
As soon as you convert sales from the qualified lead, you should start exploring various options to continue providing value to your new customers. For example:
- After-sales onboarding and services
- Sending updates notifications
- Periodic value delivered assessments
Making all such efforts will not only boost their average lifetime value (ALV) but also encourage them, referring you to someone else.
Ask For Help!
If you need assistance with optimizing your leads at any/all levels of B2B Sales and Marketing Funnel; we are just an email away. Write to us at firstname.lastname@example.org.The experts from our B2B marketing team can support you the way you want.