marketing funnel or sale funnel
B2B Marketing funnel or Sales Funnel

A marketing funnel is an integrated marketing plan that targets potential customers with personalised content and messages during each stage of the buyer’s journey.

What if you don’t have a funnel? Then it’s time to create one to aid in the development of your marketing strategy?!

It’s time to rethink your B2B marketing and sales funnel if you’re not getting as many leads as you’d like, your cost per lead (CPL) is too expensive, or your leads aren’t qualified.

A B2B marketing funnel would focus on bringing in new leads, qualifying them to become prospects, and nurturing these prospects into paying customers over time. Every enterprise and industry has its own sales cycle for attracting new customers. It’s vital to remember that each stage of the marketing/sales cycle may have multiple touchpoints before a user is ready to go on to the next level. Furthermore, there is no defined order, as a user may take one step forward and two steps back as they progress through their own personal purchasing trip at their own speed. We have tried to structure the different marketing funnel stages in a typical B2B marketing environment.

The marketing funnel structure consists of three stages of the B2B marketing funnel:

In a crude sense, a typical B2B marketing/sales funnel consists of three primary stages plus customer loyalty and retention, which are considered once you’ve already gained paying customers.

  • Stage 1-You are exploring for customers at this stage, also known as the prospecting stage or Top of Funnel (TOFU) – Prospecting.
  • Stage 2 – While in this stage, also known as the Middle of the Funnel (MOFU) – Engagement by driving Lead Generation, you will begin to generate leads.
  • Stage 3-At the last funnel stage, you are targeting leads that have some form of concentrate requirement and are willing to buy, which gives likely conversion at this stage, known as Bottom of Funnel (BOFU) – Conversions

Let’s discuss these stages in detail:

Stage 1- Top of Funnel (TOFU)

You are exploring for customers at this stage, also known as the prospecting stage or Top of Funnel (TOFU) – Prospecting.

This stage Instead of focusing on selling, your content should try to inform your audience about topics related to your brand. Explore and evaluate what kind of material your target audience likes, then develop content that caters to those preferences.

For example, a typical B2B telecommunications focus is on creating assets that talk to customers about its network, services, connectivity across marketing, latency, and other topics. While an e-commerce shopping company creates shopping info about different categories, so a buyer can add products to their shopping cart.

The purpose of collecting email addresses and phone numbers at the top of the funnel is to nurture them.

Stage 2 – Middle of the Funnel (MOFU)

While in this stage, also known as the Middle of the Funnel (MOFU) – Engagement by driving Lead Generation, you will begin to generate leads.

The phrase “mid-funnel” refers to the resources required to create trust and confidence in a company’s product or service. At this mid-funnel stage, the target audience is made up of people who have expressed interest in a specific product or service and have previously interacted with a company’s brand. Marketers will frequently tailor their mid-funnel material to a buyer’s requirements while also providing useful product features and information. The purpose of mid-funnel content is to get the audience to the point where they are ready to purchase. Analytics are critical in assisting marketers in determining which leads are in the middle of the funnel. Live events, webinars, infographics, and email marketing are just a few of the tactics used to engage, educate, and persuade mid-funnel prospects.

You’re proving your worth to new buyers by engaging in dialogue with them in the middle of the funnel.

Stage 3- Bottom of Funnel (BOFU)

At the last funnel stage, you are targeting leads that have some form of concentrate requirement and are willing to buy, which gives likely conversion at this stage, known as Bottom of Funnel (BOFU) – Conversions

The bottom-of-the-funnel leads are well-qualified and on the verge of making a transaction. These can make up the smallest and most profitable pool of prospects. They only need a little extra nudge to purchase by creating reassurance, rewards, and a sense of urgency. Your BOFU explorers place a strong emphasis on branded searches, such as product-specific searches and review terms. On the other hand, customers want proof that your solution will produce results, return on investment, etc., and is the one they should purchase.

During this phase, overt selling is the most appropriate of the three phases. However, it’s still preferable to take a collaborative approach to assist the lead in making their decision. Rather than trying to persuade your lead to buy the goods, assume they already do and assist them in tailoring the purchase to their specific needs.

Conclusion

During this initial stage, you must build awareness so that your prospects recognise and trust you with the option of looking for solutions to their large enterprise challenges. They’re looking for information, data, statistics, and credible viewpoints to help them identify and solve their complicated business problems. At some point, B2B prospects will start to look for more than just information. Instead, when consumers get closer to making a buying decision, they’ll feel encouraged to engage with you on some level. Here in this stage, buyers have progressed beyond their initial discovery/awareness in researching viable answers and now seek to interact with you on some level in further exploration. In the last conversion stage, nurturing B2B prospects into this may take a week, a month, a year, or perhaps even multiple years, but most B2B buyers are ready to act at some point.

While these stages may not be simple, spending the time to nurture potential prospects and guide them through your marketing/sales funnel will help you qualify new business leads that are more closely aligned with those you desire prior to their contacting you directly.

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