Imagine a perfect marketing world, where all the leads that you bring in turn into customers. This thought looks good on paper but the reality is far from this truth. Marketers have been doing lead generation for centuries now. About 53% of the marketers allocate half or more of their budget to lead generation, yet 80% claim that their lead generation strategies are only somewhat effective.
The Big Question – WHY?
At every stage of the buyer’s journey, leads drop off making the number of available leads in the next stage even smaller, this is why we call it a funnel.
When we talk about pipeline marketing, the pipeline refers to that bottom area of the funnel where sale opportunities are. Therefore the term pipeline marketing — the idea of continuing marketing efforts where contact becomes an opportunity and not just to marketing qualified lead status.
Bringing in more leads for your business is not going to bring you more customers. And also, they will never meet your growth and revenue goals.
After all, there is one goal that overshadows every other business goal- REVENUE!
How much money did your business make at the end of the day? Unless you plan on screaming “Show me the money” as Jerry Maguire did in the 1996 classic, we recommend you take pipeline marketing into serious consideration!.
It is the best of both worlds. Pipeline marketing is converging the power of marketing and sales data to where it matters the most- to turn leads and prospects into customers. Pipeline marketing allows you to focus on the narrower part of the funnel rather than on the top where leads reside.
Pipeline marketing requires an individualized approach. When the prospects are at the top of the marketing funnel the main goal is to educate them about the problem and provide them with the solutions for the same. Also, there are more contacts in the top funnel than there are at the bottom of the marketing funnel.
There are fewer opportunities to reach than there are leads down at the bottom of the funnel, so your marketing strategy must be personalized, rather than using a marketing automation software(as most marketers) to educate those prospects.
Pipeline marketing brings the efforts of the marketing team and sales team under one roof. Pipeline marketing allows you to connect your marketing efforts directly to the revenue. Instead of using marketing efforts to generate leads and sales efforts to convert them into customers, it all becomes part of the same process. In short. The best of both worlds!
This particular marketing strategy helps businesses focus on nurturing qualified leads and pushing them further into sales, rather than laying hold of as many leads as possible.
Pipeline marketing is all about generating revenue from the leads that already exist. As pipeline marketing focuses on generating more revenue than leads, sales come in much quicker than the lead generation process.
“As a marketer, all you want is your marketing efforts to be data-driven“.
Having a large number of leads to contact may appear to be beneficial, but it does not always translate into revenue. Data is at the heart of pipeline marketing. As you move prospects through the sales funnel, you’ll acquire vital insight into the types of content they respond to, and you’ll be able to determine which channels deliver the most useful traffic using tools like Google Analytics and CRMs.
Pipeline marketing shows you why your marketing efforts should not end at one particular stage of the funnel. Just because the opportunities in your pipeline are sales-oriented does not mean you get rid of your marketing tactics. Leveraging this through the end of the funnel can help you generate more revenue.
For more information about utilizing your marketing and sales funnel optimally and landing every lead, get in touch with our experts today at email@example.com. You can also go through our blog section to learn about different strategies and the latest trends in the marketing world.