How to Use B2B Sales Funnel for Faster Lead Conversion
Lead development cycles in B2B can take months or even years before they turn into sales opportunities or paying customers.
To deliver consistent and personalized experiences, digital marketing and automation has opened up a whole new world for discovering your prospects and prospects across all touchpoints. Having an optional B2B sales funnel will help provide a less abstraction experience every step of the buyer's journey and set it in the right direction towards the final sales funnel box.
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The sales funnel helps optimize effective marketing while increasing your conversion rates and closing more deals for you.
The progression of the B2B sales funnel
5 steps of the B2B sales funnel are explained here, but before that, let's understand the larger perspective of it.
A B2B digital marketing funnel is a smart system that targets potential customers with personalized messaging and offers that are made throughout the buyer's journey. From awareness to conversion, your B2B funnel is ready to attract potential customers and leads to leads and nurture them until they become paying customers.
The B2B sales funnel can be broadly categorized into three main stages:
Top of the funnel - Finding leads
Middle of the funnel - Lead generation
Bottom of the funnel - Finalize the transaction
The top stage of the funnel represents the awareness stage to attract new prospects and educate them about the specific problem or challenges that your product or services are helping to solve.
The middle stage of the funnel helps build the relationship between the prospect and you by showing that their problems are solved by your product or services.
The lower stage of the B2B sales funnel helps the prospect make the final decision to buy or invest financially in your offerings; by clearing up objections and encouraging intermediate actions.
You want to fuel your sales funnel with as many targeted leads as possible.
However, unlike the B2C funnel, you are targeting a large group of people, whereas in B2B you would like to be successful only with relevant accounts that make or influence decisions in a business. Users move from one stage of the funnel to taking charge of their interactions with the content / offering later.
This interaction is called conversion is often an action that qualifies the user to the next step. Digital marketing gives you a huge range of options that will be used as conversions.
Whether it's a single click of advertising, engaging social media content, viewing key pages on your site, optimizing your loving leads, signing up for a demo etc., each conversion is often used as a sign that qualifies the user for the next step in the funnel. .
For example, when a user opts for your eBook on the main magnet, that means they're interested, so you'll move them to a later stage in the funnel to keep the momentum going.
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A B2B digital marketing funnel is often short or long, depending on your sales cycle. Each stage of the funnel has a stage and a point of contact.
For example, when users choose your white paper (a typical MoFu offering), it doesn't mean that they are necessarily able to buy your product yet. You may need to feed them more with other Mid-Funnel (MoFu) content and offerings before they are moved to the Bottom of the Funnel (BoFu) stage.
So, in the next step of MoFu, offer a webinar, then a case study, etc.
This is very true for expensive, complex and disruptive products / services where decision makers within a company need solid and compelling reasons to consider your offerings.
But before that, let's take a detailed look at the stages of the B2B sales funnel.
Steps of the B2B sales funnel
The modest sales funnel has undergone many revisions since the 19th century when science hit. A sales funnel can have three or more stages, depending on who you're talking to and what business you're talking about. Basically, every sales funnel is the same in terms of how it works. However, there is no one perfect model for the B2B sales funnel.
To transform the total unknown into a paying customer, the sales funnel allows you to visualize and understand the key steps involved at its base.
To determine the best way to lose your business and at what stage your customers are losing, you can identify all of this with the key stages of the B2Bsales funnel. This will help you move your prospect to the next stages of the sales funnel. And you can have an optimized and efficient sales process.
Each business requires different versions of the B2B sales funnel. Here are the basic and crucial steps of the B2B sales funnel, whatever the company.
B2B sales funnel awareness stage
The B2B customer looks for an answer in the awareness phase of the B2B sales funnel. All the required necessities, such as resources, education, data, opinions and ideas, solve their problems. The problem could be very simple, like finding a new supplier for some manufacturing issue. It could be a bit complex, like the software which integrates frontend and backend operations without manual support.
The prospect's value at this point is low because there is no definite way to ensure that they will buy your service or product. But in the same case, if you provide high level and detailed information content, there is more chance that they will be interested in your business. At the top level of the B2B sales funnel, you need to understand the buyer's personality and how they think they are most helpful in solving the problem.
B2B sales funnel interest stage
At the interest stage of the B2B sales funnel, they started researching your products / services to get more information. It is generally considered to be a crucial process in which trust is formed around your products / services. In the eyes of the buyer, at this point, nurturing the lead is about uplifting your business.
B2BSales funnel assessment phase
During the evaluation phase, you have firmly captured the attention of the buyer. Now is the time to specialize in showing how your solution perfectly meets its needs. To further build trust, this is often the time to let prospects know if your solution is not in their best interest. Demonstrating honesty and integrity at this point can pay off in the future, even if your product or service does not meet the needs of the buyer at this point.
The engagement phase of the B2BSales funnel
Once your prospect is at the engagement stage, they engage with your sales department. This can include product demonstrations, sales pitches, and clear communication that you just understand the buyer's weak spots and need to help them find an answer. The degree of relationship and trust you create at this level can be a key part of moving the prospect to the final stage.
The acquisition phase of the B2BSales funnel
In a traditional funnel, the acquisition stage is just the end. The acquisition order is drafted or the acquisition commitment is approved. But just because money and goods are flowing doesn't mean you've hit the top of the B2b sales funnel.
Post-purchase engagement doesn't just keep the customer happy; it further feeds the funnel and is essential for building a B2B sales pipeline. That's because the big - or 84% of B2B sales start with a referral from a lover or coworker, and those referral leads convert 30% better.
While these traditional sales and B2B marketing funnels remain the most widely used model, advancements in account-based marketing are changing the ideal role of the funnel. Stay tuned for a future article on this new way to align sales and marketing.
Different Ways to Use the B2B Sales Funnel to Convert Leads
Marketing tactics for the different stages of the funnel
As buyers move through the marketing funnel, their needs change. This means that your marketing tactics and methods must change as well. What works during the awareness phase is ineffective during the purchasing phase. Offers adapted to the acquisition phase remain in the awareness phase. Therefore, mapping your marketing strategy and tactics is as important as mapping the buyer's journey.
In the awareness and interest stages, potential buyers may not know you exist. And to make matters worse, they won't even really know what they need or need.
They first start looking for an answer to their problem. Understanding your personality during this stage is more critical than ever. Your SEO tactics, lead generation, and content marketing should all be focused on your personality. White papers covering common issues, eBooks with in-depth information, and instructional videos help buyers identify possible solutions to their problem and increase awareness of your business at an equivalent time. Pay-per-click advertising campaigns may also be suitable for lead generation. Social media tools like Facebook Chatbot Messenger Ads are proving to be very effective in engaging prospects.
Ironically, people are drawn to their initial anonymity because they don't have to offer their email addresses. However, once your lead agrees, you have access to Facebook data on the lead that you wouldn't otherwise have - and that's important for personalization. The key to effective Chatbot Messenger marketing is to end each interaction with a prompt for further action.
Once you've grabbed their attention, it's time to demonstrate why your solution is best. Now you are really going to educate your prospect. This is your goal during the assessment and engagement stages. It's time to share case studies showing how you've helped other people in similar situations. Personalized email marketing campaigns are easy to automate.
Once your prospect has landed on the acquisition phase, it's time to dig deeper. Marketing and sales must work together to navigate cause conversion. Marketing should provide sales reps with case studies, offer product demonstrations, and offer incentives. Marketers often offer incentives, case studies, and product demos too early in the funnel when prospects aren't yet engaged in a sale. Your offers will be more relevant once you introduce them to the top, when your prospect is the best to get.
The modern B2B market has changed. Now buyers have more information than ever before, and they're on top. B2B customers want to research and consider several options before they can buy. It would be best to have an optimal B2B digital marketing funnel to make your business available to potential customers throughout the buyer's journey.
Get the right message and offer at the right time to the right people to maintain momentum and steer prospects to ultimate sales. Start with something simple, using the offers and content you already have. Use the data to strengthen your funnel and add extra steps and elements to spice up your conversion rates.
And now it's your turn to build your high converting B2B digital marketing funnel to help grow your business to the next level. If you have any questions or comments, please drop us a line below. Or, if you get lost in your funnel-building efforts, tune in and find out what we'll do for your business.
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Deck 7’s brand awareness and lead generation programs have been used by Fortune 500 companies like Amazon, Verizon, and Microsoft, mid-market companies like Blackline and TripActions, and fast-growing Inc. 5000 businesses like Madison Logic and Conversica.
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