The marketing funnel is a visual concept for understanding the overall process of converting leads into customers. Just like concept, the idea is that the marketers cast a widespread net to acquire as many potential leads as possible, and then gradually nurture the same to turn them into potential clients.
In an ideal condition, marketing funnel is actually a marketing cylinder where all the leads turn into customers. Although, it is not always possible in real life, it is the marketer’s job to convert as many leads as possible and thus make that funnel into cylindrical.
The process of lead to sales conversion requires a lot of optimization and close examination. Most of the B2B marketers fail to keep such close evaluation throughout the lead nurturing stages. The conversion rate of a final lead to sale is less than 10% for almost all business sectors. So why B2B marketers are missing to connect top of the funnel leads to the middle ones or bottom level?
There are three key points that summarize such low sales conversion rates. Let’s take a look at those:
1. Lack of tenacity:
Most of the marketers give up very early. It takes persistence to reach an actual prospect. Sloppy re-targeting approach can result into loosing big opportunities. It is thus important to have smart segmentation of audience and a customer centric approach that will help in re-engaging your leads2. Leaks in the sales funnel:
Most of the B2B marketers fail to keep track or follow up with the sales customers. Majority of the potential leads need constant engagement before you turn them into a middle of the funnel lead or bottom of the funnel lead. Hence, a CRM based sales pipeline and a solid lead management system is essential for a higher conversion of these leads.3. Lack of information and knowledge about user:
This can be seen as the very basic flaw while connecting the top of the funnel lead to middle or bottom of the funnel. With poor information about potential client, marketers fail to adopt a customer centric strategy. The lead might lose interest and thus fail to convert into a potential customer. Thus, having a solid and ticketing knowledge management system will help you solve customer related queries.It is evident from above that most B2B marketers lack a solid lead nurturing strategy to have a strong conversion rate of the leads. So let’s take a quick look at some effective lead nurturing tips that will allow you to connect your top of the funnel leads to mid or bottom of the funnel:
Targeted approach:
Leads nurtured with a proper-targeted audience and content can help you scale up your sales opportunities.Multiple channel approach:
It is time to think beyond single-track approach such as email marketing. Use multiple channels to target your leads and see the change.Persistent Follow-ups:
A potential lead may require an average of 10 touch points from the period they enter the top of the funnel until they boil down. It also requires timely follow-ups to keep the lead engaged and make sure they follow the path to the bottom of the funnel.Personalized approach:
Having a personalized or customer centric approach such as personalized emails have shown to scale up the conversion rates substantially.
Milind Vartak
Director at TrojanHorse Strategic Advertising
An experienced advertising professional specializing in brand building, with over 29 years' experience in developing and implementing communication strategies across various industry verticals including IT, Healthcare, Real Estate, HR, Leisure, Automotive, Manufacturing and F&B.
Possess a cross-cultural experience through having worked at some the world’s largest advertising agencies to boutique creative shops coupled with over a decade of experience as a ‘professional brand builder’ in an entrepreneurial role.
Article credits:
https://www.snapapp.com/blog/lead-generation-funnel
http://www.imediaconnection.com/article/145714/how-to-create-the-right-ads-for-each-part-of-the-funnel
https://www.marketo.com/lead-generation/
http://www.activatems.com/category/lead-generation/