Marketing & Sales Funnels For Revenue Growth
The importance of tracking the buyer’s journey as a customer from first engagement to customer is key to driving your small business or startup forward. Vice President Mollie Bodensteiner discusses in-depth how FunnelWise, a startup with its home in Greater Des Moines (DSM), and other successful sales and marketing organizations utilize a well-tuned funnel.
Routes to Revenue
Funnels align your sales and marketing efforts and are the platform for future success. Building a foundation, or blueprint of the stages of your funnel, allows your entire team to map out a plan of stages for your funnel. Mollie says everyone within the organization should sign off on the blueprint so processes don’t overlap, as well as be comprehensive and outline tasks for the sake of accountability.
Stages of a Sales and Marketing Funnel
The top of the funnel (TOFU) is marketing’s responsibility of building awareness around the problem you want to solve. As a business, your goal is to educate without actively selling.
The middle of the funnel (MOFU) is educating prospects to choose your solution and the responsibility of both the marketing and sales teams.
The bottom of the funnel (BOFU) explains why your solution is the best and controlled primarily by sales.
B2B and B2C Funnel
Whether you’re selling B2B or B2C, utilizing funnels can increase the likelihood of success. B2B and B2C sales both include stages from awareness and searching for information, interest, consideration and reviewing terms.
Building a Successful Stage of a Funnel
The business funnel is constantly changing. How do new hires fit into the funnel and how you do business? Consider key questions to ensure scalability, efficiency and a great customer experience:
- Entry criteria — How can the prospect enter the stage?
- Exit criteria — How do you know they left?
- Technology — How can your business automate the sales process to better interact with the customer?