You think you have the perfect product or service for companies in your industry, but you just can’t seem to connect with them.
The first thing you need to take into consideration to improve this aspect of your business is your marketing funnel, also known as “marketing funnel”, marketing tunnel, or conversion funnel.
How Can Behavioral Psychology Help Marketing?
A B2B marketing funnel is an essential tool for optimizing your sales pipeline, but it is often overlooked. We note that almost 70% of B2B companies have not yet identified and created their marketing sales funnel. This results in significant loss of income.
So, to stay ahead of your competition, read the rest of this article to learn all about the B2B marketing funnel, and integrate several Kenya WhatsApp Number List techniques and approaches that can be useful and profitable in your B2B marketing strategy.
Why use a B2B marketing funnel
Selling products and services between businesses can be complex and very competitive these days. Buying decisions are rarely made by one person, but rather by a purchasing group of 5-6 people who make the final decision. Marketers have to overcome a lot of specific hurdles before a sale is possible:
- Create specialized content that meets the needs of the buyer
- Establish and maintain relationships with leads
- Develop compelling sales and marketing strategies on various platforms to attract qualified traffic and to entice potential buyers to do business with them.
This process can take months or even years.
By documenting the specific demands associated with the sales journey, the B2B marketing funnel can help businesses assess their marketing strategies and reach their target audience in more relevant ways.
Understanding the B2B Marketing Funnel
What is a marketing funnel? What we can say is that the B2B marketing funnel is constantly evolving, and that there are several possible models and variations, especially regarding the stages of the B2B marketing funnel. But traditionally there are 6 phases, which are accepted by most marketers:
- The awareness phase: during this initial phase, leads learn about your company, product or service
- The interest phase: leads want and seek more information. They become qualified leads.
- The consideration phase: potential customers or prospects contact your marketing teams and receive more detailed information.
- The intention phase: prospects show a clear interest in purchasing your product or service
- Assessment: Prospects determine if your business offers the best solutions to solve their problem
- Purchase: the sale is concluded
The traditional funnel is simple and lead-based. Potential buyers are sort of profiled and selected through a process that ultimately ends in a purchase. And it’s your sales team that guides and “nurtures” potential customers from mid-funnel to end.
The ever-evolving B2B marketing funnel
What the traditional model lacks is the impact that advances in today’s digital technologies have on the purchasing journey.
With the advent of technology, consumers are now doing much of the research themselves. By the time B2B buyers make their first contact with a sales representative, they are actually already well into the buying process.
Today’s shopper is smart, savvy, and has unlimited information at their fingertips, using all the resources the web has to offer. Now leads can come in and go out at any point in the process, and they can also engage directly with your marketing team at any time. Sales and marketing teams must therefore react accordingly with strategies and content capable of attracting potential buyers every step of the way, and using all the advantages that technology can offer them, such as marketing automation.
While the traditional B2B model still represents a foundation that B2B companies can build on to understand buyers and optimize their conversion rate, new versions of the B2B sales funnel offer a more holistic approach. They try to integrate all the subtleties that can be seen in the sale in 2021.
Thus, the new B2B marketing funnel diagrams have several touch points and intersections, which show the complexity of the current purchasing process. These non-linear funnels replace the old static models. However, they all adhere to some of the basic concepts of the B2B funnel.
Potential customers can discover your business through various means such as organic search, paid advertising, word of mouth, podcasts, and more. They can also access information made available to them by online businesses, and even interact with specific content offered by marketing teams.
When a potential buyer reaches the intention phase – no matter how – they can decide whether your products or services meet their needs better than the competition. And if you can influence them, the sale is almost guaranteed.
B2B content marketing and funnel
Effective content marketing, whether B2B or B2C, is the cornerstone of the modern marketing funnel. The content, whatever its form, must above all be considered as an added value offered to future customers.
As we know that now buyers can find all the preliminary information they need about products and services right from their office or living room, it is imperative that the right kind of information is delivered to the right place. Today, we know that before buyers even consult a sales rep, they’ve reviewed up to five different pieces of content about the company they’re interested in.
From this perspective, we can see how crucial B2B content marketing plays is in the early stages of the funnel, and even throughout the process.
Content marketing has become one of the most productive ways to reach targeted audiences. It can be used at all levels of the funnel.
This is one of the reasons why inbound marketing has grown in popularity in recent years.
This content-based marketing strategy offers a 4-step conversion funnel
- Attract visitors to your business website, through content offered on various social media, websites, etc.
- Convert these visitors into qualified leads
- Engage and nurture these qualified leads – now prospects – thanks to relevant educational content
- Build customer loyalty, once the purchase is finalized, and capitalize on their experience through testimonials, reviews, etc.
There is a simplified version of the B2B funnel recommended by inbound marketing enthusiasts, which is called TOFU MOFU BOFU.
This variant simply separates the B2B marketing funnel into three parts:
- TOFU (top of the funnel): the phase where your business should focus on acquiring traffic
- MOFU (middle of the funnel): the phase where your qualified lead must be nourished with educational content likely to make them mature in their thinking and explain to them how your product or service can solve their problem
- BOFU (Bottom of the funnel): this is when the prospect is mature enough to be passed on to your sales team
What are the benefits of the B2B marketing funnel?
The B2B marketing funnel, although changing, is still relevant for companies that want to optimize their conversion rate. The tool can be used by any business and can help you do the following:
- Convert leads into consumers
- Align your sales and marketing campaigns
- Improve your brand image
- Apply appropriate strategies that will best meet the needs of your buyers
- Generate more leads and sales