Whether you know it or not, every business has a funnel. The funnel details customers' journey from awareness, through interest, to action.
And, like all sales processes, the better-optimized funnel gets the most conversions.
The more you streamline your customer journey, the higher your chances of consistent sales. Your customers will not be one-offs but loyalists to your business.
But remember, only the "optimized" and "streamlined" B2B marketing funnels get results. So, if you don't have one in place for your business, it's hightime you did. And say you don't know where to begin. This article will help.
Here, we shall discuss all there is to know about the B2B marketing funnel - how to build one and draw insights from the funnels that work.
Check out a sneak peek of what to expect in this article:
* Why is a marketing funnel important?
* How does a B2B marketing funnel work?
* B2B marketing funnel examples
* How to build an effective B2B marketing funnel
What Is A Marketing Funnel?
Marketing funnels generally are simply customer journey maps. They are visual reports of prospects' progression from learning about your business/brand to becoming a customer (conversion).
Often, the said journey happens in four steps.
* First, the prospect sees an ad about your brand on social media.
* Second, the prospect is intrigued by the copy or the figures quoted in the ad; he clicks on the holy grail: "learn more."
* Third, the prospect gets a sample after learning enough about your product.
* Fourth, the prospect buys your product or books a demo offer.
Note: the steps are not set in stone. "Second" could be "first" or vice versa.
Either way, a prospect will likely go through the attention, interest, desire, and action phases to become a customer.
Sometimes, a prospect might skip the "awareness" and jump to "interest."
For example, say a prospect NEEDS a fishing reel; he does not require an ad to be convinced to buy. In this case, the prospect will proceed to Amazon, choose a product, add the desired reel to the cart and confirm the order.
In other cases, the "action" won't be to purchase a product. Conversion can be as simple as getting a prospect to sign up, register, or fill out a form.
Overall, the prospect would glide through different stages in the marketing process. The snapshot of these processes is what marketing funnels represent.
Why Is A Marketing Funnel Important?
Let's rephrase the question: why is an effective marketing funnel important?
Because either planned or not, your business has a funnel.
In other words, you must be intentional about optimizing your marketing funnel. Below are reasons you should.
Increased Sales
Without an optimized marketing funnel, the chances are that you'll get sales. However, it won't be consistent and scalable.
When you optimize the funnel, on the other hand, you can study your customer behavior. From there, you can widen your net or streamline your marketing strategies.
These tweaks will increase your sales - sustainably.
Refined Marketing Strategy
The key to consistent sales is a marketing strategy that works. To arrive at that, however, you must understand your customer behavior.
Why didn't prospects click the "learn more" in your ad?
Why did they stop on your product page?
Worst case: why did prospects abandon their carts?
The answers to all your questions lie with a streamlined funnel. With it, you'll devise a calculated strategy to market your products.
You'll know when to offer promotions and to whom.
Most importantly, you will learn how to market your product to different prospects along the buying stages.
Customer Retention
A streamlined funnel doesn't stop at converting prospects to customers. It also helps to retain them.
Here is how:
Marketing funnels reveal post-marketing activities you could enforce to keep your customers.
Whether you use a retargeting ad or emails, targeted promotions, or even predicting future sales - a streamlined marketing funnel can be the difference.
However, note that we barely only scratched the surface of marketing funnels. A B2B marketing funnel is a slightly different and more complex model.
But don't fret; we'll simplify the terms and know-how.
B2B Marketing Funnels: Things To Keep In Mind
Definition
The definition of marketing funnels is the same for B2B and B2C. The only difference is that now, with B2B, the customers are businesses.
As a result, decision-making or purchasing takes time and can be complex.
How complex?
For context, businesses might need to consult several decision-makers (CEOs, CFOs, etc.) before buying a product. In some cases, the powerhouses could be as many as 10.
These processes eventually make B2B buying/selling complex. According to CSO Insights, the delay could be as long as 7 months.
With such a lengthy timeline, a streamlined marketing funnel is even more crucial for B2Bs. But before we delve into the benefits of B2B marketing funnels, let's clear a few misunderstandings.
B2B Marketing Funnel Vs. Sales Funnel
Marketing and sales funnels are not to be confused with each other. While the two are crucial to scale your business, they are different from e.
A B2B marketing funnel creates meeting points with prospects and convinces them to buy from you. Here, the focus is primarily on guiding people across your customer journey.
For example, a marketing funnel could be the informational content on your landing page.
A B2B sales funnel, on the other hand, entails the specific actions enforced to convince prospects to buy from you.
Here, the focus is not on the touchpoints but on the actions (extra efforts) initiated to convert prospects into customers.
For example, a sales funnel will include strategies like having an in-house team call a prospect or walk them through a demo.
Overall, both B2B sales and marketing funnels are crucial to simplifying the complex process of B2B business dealings.
B2B Vs B2C Marketing Funnel
The main difference between B2Bs and B2Cs is the audience. While the former targets groups (businesses), the latter focuses on individuals.
As a result, the marketing funnels are somewhat different.
For starters, the funnel stages will be different. B2Bs will be longer since they involve tedious research and decision-making among stakeholders.
On the other hand, B2Cs are short-cycled and fast.
More importantly, the content and touchpoints are different. For B2Bs, the focus of the funnel is centered around interpersonal relationships.
For B2Cs, on the other hand, the relationship is somewhat transactional. That is why the content (especially ad copy) here is often playful and emotional.
Further reading: Understanding The Difference Between B2B And B2C
Benefits Of B2B Marketing Funnels
Search Visibility
B2B marketing funnels while focusing on interpersonal relationships also boost Search Engine Optimization (SEO).
Every article written to warm up prospects and move them further in the funnel is a chance to be seen on search results.
The best part: each article will rank for different intent and long-tail keywords.
* A how-to blog post will feed prospects who seek awareness about your products. E.g., "how to use a fishing reel."
* Product pages and listicles, on the other hand, will stir desire. E.g., "best fishing reel 2022."
* And buying guides will help prospects take action. E.g., "fishing reel review.:
In summary: your funnel content will rank for informational, transactional, and commercial intent. Also, you will attract other leads from search engines.
Brand Authority
The more content you have guiding prospects along your marketing funnel, the higher your chances of ranking for several keywords. When that happens, you will gain organic traffic and topical authority.
Topical authority means you gain relevance about a topic, and Google shows your content first on search results. And so? When you gain topical authority, your brand will also become an authority in your niche.
Ultimately, prospects will trust you. More importantly, "conversion" will become straightforward and stress-free.
Note: how-tos, product pages, guides, and reviews are not enough to build brand authority. Your funnel must contain in-depth, long-form content.
Site Authority
Your brand and business are not the only things gaining authority. Your site will benefit too. In fact, other marketers will notice the resourceful content you put out and acknowledge you.
And if you put out original content, the chances are that other site owners will quote your resources and link back to your site. Original content aside, snackable and shareable bits like infographics and videos also get *******.
The best part: you might even be invited by top guns to discuss your business on a webinar. Or you could be approached by high-authority sites for partnership. Either way, your domain (site) authority will increase. And so will the chances of your articles getting ranked on search results.
Permissive Marketing
Unlike B2C, where the strategies are transactional, you need permission to build interpersonal relationships in B2Bs.
And luckily, getting permission won't be hectic. Here is why:
* You invested a lot into building your content base
* Your articles are ranking on the top pages of search results
* Other sites and marketers rever your business
* Your brand is an authority
In short, your brand is trustworthy. As a result, prospects or visitors won't hold back when you ask them for their email addresses to download a study or checklist. And so?
When prospects or site visitors submit their emails or subscribe to your mail, they already grant you permission to send them promotions.
Unlike direct marketing, which is invasive, this permissive hack with funnels is golden. It is the climax of interpersonal relationship building.
Enhances Other Marketing Strategies
Ideally, your marketing funnel will reveal the best strategies to get sales - and when. Beyond that, it should help "the tools" in place.
For example, say you are using "paid marketing." An optimized funnel will increase your ROI. Now, the chances of conversion will skyrocket, and you'd recoup your investment in folds.
Pro tip: always plan your marketing strategies with your funnel in mind. Doing so will save you time and money on what won't work.
Now, let's see how a B2B marketing funnel works!
How Do B2B Marketing Funnels Work?
Short answer: like another typical journey process, B2B marketing works in stages.
However, the stages differ from one niche to another. Regardless, you can expect a basic framework as below.
* Top of the funnel (TOFU)
* Middle of the funnel (MOFU)
* Bottom of the funnel (BOFU)
* Post-funnel activities
So, what about awareness, interest, consideration, intent, evaluation + decision, and purchase?
Those steps are the "stages of sales funnels." Nevertheless, you'll find the steps grouped under the TOFU, MOFU, and BOFU in marketing funnels.
That said, let's delve in!
Top Of Funnel (TOFU)
Like the name, TOFU is the entrance level. This stage is where prospects don't know about your business.
As a result, the bulk of the work around TOFU is centered on creating awareness and getting attention.
Often, TOFU is characterized by the following highlights:
* Content marketing
* SEO and paid advertising
* Social media posts - combined with video marketing
* Influencer marketing
* Brand building activities
Furthermore, TOFU is where the interpersonal relationship foundations are set. This stage is where you answer the pain points from the get-go.
When answering the questions, visualize how your prospects would feel about a strange business. Calm their worries from such an angle.
Pro tip: avoid crowded spaces like social media platforms - if you don't have the resources to cope with the big guns of your industry.
Middle Of Funnel (MOFU)
As prospects move down your B2B marketing funnel, you can stop with awareness. You need to up your attention-seeking strategies.
Engage prospects to the point where you stir their curiosity.
In short, MOFU is where you stir prospects' interest and get them to consider your products and services.
While stirring interest, you should put your most trustworthy foot forward. At this stage, it is not enough to answer prospects. Add the following:
* Show that you visualized your prospects' position and understand their problems and inhibitions
* Demonstrate that you care and can prove first-hand how your products or services will solve the problems.
Furthermore, this stage (like TOFU) will revolve around educational content. But while educating prospects, always upsell your business.
For example, while educating affiliate marketers on how to get the best fish reels, you should establish your business as the go-to source. You could upsell your one-of-a-kind affiliate program.
Pro tip: the goal is to educate and subtly sell your product. Don't be too salesy.
Bottom Of Funnel (BOFU)
Welcome to the MAIN goal of your marketing funnel: convert and sell!
All the steps so far have worked prospects to where you want them. At this point, you don't need to be subtle about your products and services.
Now is the time to be direct. Show your intent and massage prospects to take action.
And while you are at it, use strong call-to-actions (CTAs).
If possible, deviate from generic CTAs. Use action-based anchors such as "subscribe," "buy," "join," etc.
Also, you can add a sense of urgency with words like "now" or "today."
Furthermore, your content at BOFU is less informational but more tuned to promotion. You educate less and show results.
Here is a sneak peek of what BOFU content looks like:
* Social proof
* Free trials and demos
* Webinars
* Comparison guides and optimized landing pages
* Case studies
* Success stories - if there are any
Post-funnel Activities
Even after "purchase," your work is not yet finished. The goal is to turn one sale into continuous orders - and even recommendations.
So, stick to your customers. Maximize the permissive marketing strategy. How?
* Keep in touch with your customers.
* Check to see if they are getting the most value from their purchases.
* Ask if there are problems that need fixing.
Beyond the care, the post funnel is another opportunity to sell. Now is the time to suggest a complementary product.
For example, if a company bought fishing reels, chances are that they need kayaks or fish finders. Upsell your other products!
In addition to complementary products, you can announce upgraded features customers could buy. And if there are no upgrades, discuss how your service delivery has improved.
Either way, don't let the relationship built go to waste. Nurture it to stay on top of your customers' minds when they need your services.
So, what next?
We'll walk you through how to build an optimized B2B marketing funnel.
But before that, let's show examples of funnels that work.
Examples Of How Top Brands Optimised Their B2B Marketing Funnels
Often, you don't even need to go overboard with new strategies to optimize your marketing funnel. Focusing on a section and streamlining can work too.
However, elaborate strategies still work too. Those two approaches are what the brands below used.
Check it out!
GoCardless Simplified Their Funnel And Increased Conversion By 139%
GoCardless, like the name, is a UK-based online payment processing solution provider. They help subscription-based businesses fulfill transactions super-fast, without stress, and without cards.
The issue with GoCardless was the lengthy process in their BOFU. Prospects had to "request a demo" to check out their products.
Yet, prospects must still fill out a form when they would select the date and time.
That lengthy process reduced GoCardless conversion metrics until it was fixed. Today, prospects don't need to schedule dates to watch demos.
Prospects can get immediate access to the GoCardless demo while inputting their email addresses.
Fortunately, that little tweak increased the GoCardless conversion rate by 139%.
Grasshopper Used Influencer Marketing To Scale To Over $100M
Grasshopper helps businesses to add a business number and virtual phone system to their personal phones.
Like GoCardless, Grasshopper had a rather long funnel too. They cut that down. But that's not even the gist of how the company scaled to over $100M.
Grasshopper tweaked their TOFU with influencer marketing. The company sent chocolate-covered grasshoppers to the top 5000 (in the US) most influential people.
The package was delivered via FedEx. And on it was a URL linking to a video.
This idea was a hit, and it stunned influencers. So much so that they promoted Grasshopper across their social networks. Several people even record themselves eating the chocolate-covered animal. In the end, it was no surprise that the virtual phone system company scaled to over $100M.
Here is what's surprising:
Grasshopper didn't even use a sales copy. Yet, they got such FANTASTIC ROI.
Overall: either you pull a GoCardless or Grasshopper, you can also scale your business with an optimized B2B marketing funnel. But you might want to consider your budget.
Also read: 71 Creative Marketing Ideas
How To Build An Effective B2B Marketing Funnel
Set The Overall Goal
From the start, decide what you aim to achieve with your funnel. So, what do you want to increase?
* Conversion rates
* Total sales
* Repeat sales or
* Customer satisfaction
Whatever you want, your funnel must be optimized in that direction. More importantly, be specific with your success indicators.
For example, "I'll increase my conversion rates" is not a goal. Add numbers to it. By what percentage? What is the timeline to achieve the goal?
Study Your Customer
One of the reasons you can't copy and paste others' funnel is that customers and audiences vary. So, focus on yours; study and understand them.
The following questions can help:
* What is the motivation of your ideal customer?
* What are the frustrations?
* How can your product solve the "frustration"?
* Can your product align with the "motivation" triggers?
Use the answers to create a customer profile.
Note: you can create multiple funnels for different customer profiles.
Choose A Marketing Channel
Grasshopper used YouTube as its marketing channel; that might not work for you. Yours might be TikTok or even Instagram.
Either way, find where your ideal customer spends most of their time. Direct your marketing efforts towards that channel.
Additional tips:
* Regardless of the channels you use, ensure that your TOFU, MOFU, and BOFU content is high-quality.
* You can't do it all; build a team of diverse-skilled individuals. However, ensure you all have the same drive.
* You don't have to build the funnel if you lack experience. Outsource!
* Always track your success indicators.
* If the results are not forthcoming, restrategize.
FAQs About B2B Marketing Funnel
What Is B2B Marketing Funnel?
B2B Marketing Funnel is a customer journey map that explains how prospects move from awareness through interest and evaluation to purchase.
In summary, it explains how prospects convert to customers.
How Do You Make A B2B Funnel?
Short answer: build the funnel in 3 stages.
1. Define a clear goal you wish to achieve. That could be to increase your repeat sales or conversion rates.
2. Create customer profiles to understand how your "ideal customer" thinks and what you can do to push his motivation triggers.
3. Choose the marketing channel.
If the process is too long, you could bypass it by letting a funnel expert build one for your B2B. Fortunately, we have some of the best funnel builders here on Legiit.
Also, if you only need sectional help too. Our freelancers can help.
We have content writers and social media experts.
Also read: Instagram consultants On Legiit
What Are The 3 Marketing Funnels?
Marketing funnels are segmented into three stages, as below.
1. Top of the funnel - to create awareness and attention.
2. Middle of the funnel - to stir interest and make prospects consider your business.
3. Bottom of the funnel - to show your real intent (your goal) and get prospects to take action.
What Is A B2B Marketing Strategy?
Any strategy employed to increase your sales as a business serving other businesses is a B2B marketing strategy.
Now the strategies you could employ differs. But in any case, the top-performing picks are:
* Social media marketing
* SEO
* Email marketing
Summary
A marketing funnel might seem strange at first. But when you think of it, it is what every business has - even without planning.
How prospects approach you and how they glide through your web pages to buy your products. All these details are what the marketing funnel entails.
However, leaving your funnel bare won't offer the best results. For that reason, you must optimize it.
Thankfully, the steps to optimize your funnel and the expected results are all detailed in this piece. We hope you find the tips helpful!
Further reading: Ultimate Guide to B2B Marketing Ideas
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