Every company requires leads to ensure revenue.
Customers come and go, but bills and expenses stay the same. If you want your company to grow, the marketing team must ensure that fresh leads and paying customers arrive regularly.
In this article, we want to share a tried-and-true marketing strategy for achieving a strong lead funnel for revenue growth.
What Is a Lead Funnel?
A B2B lead funnel is a marketing method for systematically identifying, and engaging with buyers at various stages of the buying process. Similar to a sales funnel, it is the series of stages that a lead must take to progress from being a prospect to being a qualified lead, a priority lead, and finally in a sales conversation.
The need for a lead generation funnel for your company has never been greater. Your lead funnel, if properly implemented, will allow you to get in front of and keep buyers at every important stage of the purchase process.
Why Is a Lead Funnel Important?
Creating a lead funnel will assist you in organizing your marketing activities so that the lead generation, nurturing, and sales processes are all in sync. To create a successful lead funnel, you must first conduct a thorough analysis of your target audience, determine the best communication channels for each stage, and eliminate any tactics that aren’t working for your company.
You can easily capture leads and convert them into paying clients with the help of a well-thought-out lead funnel. Let’s go over each stage.
Stages Involved In Creating a Lead Funnel
Like the sales funnel, the lead funnel also has three basic stages: top of the funnel (TOFU) leads, middle of the funnel (MOFU) leads, and bottom of the funnel (BOFU) leads.
TOFU leads are the prospects that have shown their initial interest in your product or service. They are at the start of their buyer’s journey and believe that you are one of the potential vendors that can solve their problems. When you generate TOFU leads, you have won half the race to convert them into paying customers. So, you can tag them as good leads but not qualified leads as you don’t know if they meet your qualification criteria.
These are the leads that have shown a consistent interest in your shared content, interact with your campaigns, and engage with marketing emails. However, they are not fully convinced and need more information from your end. So you can consider them as better leads but not the highest quality leads that are ready-to-buy at this stage.
These are the leads that can add to your revenue goal. They are convinced that you can definitely help them solve their challenge and have shown interest in talking to the sales reps for proposal and negotiation. So, these leads are ready for you to pass on to the sales team. You can consider this the finish line of the lead funnel and starting line of the sales funnel.
To master all the three stages of your lead funnel, it is important to implement lead prioritization. Prioritizing, or scoring, your leads will help you push them through each stage correctly.
How to Prioritize the Leads from Your Lead Funnel
How do you prioritize your leads? The answer – using Buyer Intent Data.
Buyer Intent Data is a set of behavioral signals that can help you figure out if your prospects want to buy a product or service.
Any marketer hoping for a higher success rate must first understand the intent of their buyers. Understanding prospects’ behavior and triggers aids organizations in determining what motivates people to purchase and when they do so. With this information, marketing and sales teams can target a certain profile and provide a customized approach on demand to boost the possibility of a purchase decision.
Lead prioritization and nurturing are the core of the lead funnel. For nurturing, you need to decide the right messaging based on the lead’s intent. With numerous aggregated intent signals, businesses can identify “ready to buy” prospects and fine-tune their campaigns accordingly.
Long story short, Buyer Intent Data can assist differentiation between those who are actively investigating a problem and those who are simply browsing. This data shows if a lead meets your ideal customer profile or not, making prioritization a breeze.
Add More Quality Leads to Your Lead Funnel With SalesIntel
A business-to-business sales funnel is a tried-and-true business approach that has helped innumerable companies succeed. Yes, every company should adopt a sales funnel strategy to increase revenue and optimize lead flow.
However, companies must keep in mind how much the industry has changed since the sales funnel was first implemented. You must combine old-school approaches with new technology, which SalesIntel enables you to do.
SalesIntel at TOFU
Generating more leads is crucial in this stage. You can use emails to reach decision-makers and promote material that answers their business concerns. SalesIntel gives you access to millions of human-verified B2B contact data as well as the company data you need to reach out to your potential customers.
If you are struggling to get your website forms filled, SalesIntel can help you in improving the form conversions by reducing the number of required fields. You can ask as little as your prospects’ name and email address, and SalesIntel can enrich your B2B data by filling in the gaps and replacing incomplete data with human-verified data.
SalesIntel at MOFU and BOFU
When you have a decent number of TOFU leads, it’s time to get more targeted with your content and sales presentations. Additional information, such as technographic and firmographic filters, are provided by SalesIntel to assist you in prioritizing your ideal consumers. This information can be used to qualify leads from TOFU to MOFU depending on firm size, location, the technology used, and other factors.
BOFU leads need to be the highest quality leads. SalesIntel takes it a step further by providing buyer intent data, which allows you to distinguish between prospects who are ready to buy and those who require more information or education before taking action. You can use intent data to figure out what kind of content (themes) your leads are interested in. As a result, identifying prospects to progress to the final stage of the buying process becomes a lot easier.
SalesIntel After a Sale Conversation is Derailed
Relationship building is a big part of closing a sale. But what if the decision-maker has left the company or been promoted and your entire sales conversation has been derailed?
We have got you covered. We can assist you in identifying the new point of contact to follow up with, and SalesIntel’s B2B data is re-verified by our researchers every 90 days. As a result, the information you use will always be current and accurate.
Constant Fine-Tuning is the Key
As you construct your funnel, keep in mind that the goal isn’t just to create leads and generate a positive ROI for your organization but also to achieve internal buy-in between marketing and sales. Also, make sure you track all of your efforts using a data-driven reporting system to discover what works.
As you figure out which channels are the most effective, start optimizing them as much as possible. You can determine which marketing channels produce the best results at the lowest cost. However, you should set a minimum cash number for how much you are willing to spend for a lead. You can align this financial model with your funnel so that you can fine-tune the funnel to keep the cost per lead under control.