How to Build a Successful Digital Marketing Funnel
What is funnel marketing?
Funnel marketing is a phrase used to describe a way of looking at a B2B buyer's journey . The idea is that the further the journey progresses, fewer people there. On top, you may have website visitors and people downloading content snippets, of which there are many. And at the bottom, there will be people participating in tests and demonstrations, that are few.
It is a widely accepted theory in B2B marketing and is adapted in many ways to suit different people's views on how it works in detail.. A popular way to segment the funnel is to use the acronym ToFu, Mofu & Bofu: Top of Funnel, Middle of Funnel y Bottom of Funnel.
What is the end goal of the digital marketing funnel?
The ultimate goal of the digital marketing funnel is to win new customers through online marketing. The funnel is a framework for building a digital marketing strategy. Having a framework to work with as the funnel allows you to create a plan for your digital marketing strategy.
How do you build a digital marketing funnel?
Creating a digital marketing funnel starts with understanding the different stages of the funnel and producing content and using tactics for each stage..
Each stage of the funnel requires a slightly different approach as your leads are at different stages in their journeys and, Thus, they will have different needs.
What is a full funnel strategy?
A full funnel strategy is when you cast a wide web at the top of the funnel to try and fill it with as many prospects as possible. / leads. Although this seems logical, is often the wrong approach to use the funnel, as the priority should be to increase conversion rates from stage to stage first.
What are the stages of the marketing funnel?
There is 3 Stages a buyer goes through in the basic digital marketing funnel. From top to bottom they are called stages of consciousness, consideration and decision.
These 3 Segments of the digital funnel are also often abbreviated as ToFu, MoFu y BoFu. These acronyms come off the tongue quite well and are easy to remember, so that's probably why they stayed.
ToFu significa Top of Funnel, MoFu para Middle of Funnel y BoFu, if you didn't guess, significa Bottom of Funnel.
There are different goals that align with each stage of the funnel and different types of content needed for each..
How to make the funnel work
While using the funnel as a framework is a good foundation for your B2B digital marketing strategy, comes with some caveats, especially when targeting companies.
Logic dictates that the more traffic you get at the top , more qualified leads you will get at the bottom, and if you have your correct strategy, that is usually the case. But, Most of the time, the companies we meet suffer from a lack of qualified leads, and the problem may come from the top of the funnel.
When you get a large number of leads, but its low conversion rates, especially the conversion rate between a lead and a qualified lead.
There is often nothing wrong with ranking well for a generic search term and getting a lot of traffic from people who will never buy from you.. The key is that your calls to action and your proposal are very clear on your website so that people can rate.
For example, Suppose you sell accounting software for large accounting firms, maybe the 4 big. If your digital marketing strategy means you rank high on Google for “accounting software”, you will have great online visibility and probably a lot of traffic too.
Now, much of the traffic may be from freelancers looking for a cheap piece of free software. Not your audience, but it's not always a bad thing, you get exposure, you create ‘consciousness’.
Now keep this in mind, Are you running remarketing ads on google? Are you creating lookalike audiences based on website visits? All of these elements are affected by visitors to your website to whom you are not selling..
Things to keep in mind:
What resources are you spending to serve that audience? How long, money? Could that time spent writing content on '10 free accounting software platforms' better be spent??
In this point, you can still make the counterargument that it doesn't matter that some traffic is irrelevant because you are casting a wide net and you are bound to catch big fish, truth?
That's true, But what if you are in a small marketing team in a growing business on a tight marketing budget and you need to demonstrate ROI to your peers? What if you are generating 100 potential clients per day, but only 1 of them is qualified, how that affects your ROI numbers and what happens to your sales team?
When you run a marketing operation “slender”, it is very important to be efficient.
Streamline your digital marketing funnel
The answer to this problem for B2B technology marketing is to make the marketing funnel as efficient as possible.. Think of it like changing the shape of the funnel more into a thin pipe, which means that the drop between each stage is small because their conversion rates are higher.
Segmenting your audiences into funnels is a great way to ensure that you are serving each audience with the most relevant message.. This is essentially why ABM (Account-based marketing) has become popular. We know that personalized and specific messaging converts many more leads.
By segmenting your audience in 'funnels’ o 'pipes’ separated, you can measure the conversion rate for each. Their volumes may be less, but it will have higher conversion rates.
Achieving this is a bigger problem, but it starts with defining what your value proposition is, positioning and strategy and who are your ideal clients, and then define who the buyer characters are within these customers.
Now it's a lot to take in, probably too much at once. Nevertheless, one thing that runs throughout your marketing is your content, producing the right content for the right people at the right time will improve your conversion rates and generate more relevant traffic to your website.
Still using the marketing funnel framework, we will quickly explain the purpose of the content at each stage.
What is the top of the funnel content?
At the top of the digital marketing funnel, your main goal for content production is to create awareness and drive more traffic to your website.
The 2 KPIs for content at this stage are organic visits to the website and the conversion rate between visits and leads.
People who engage with your website and its content at this stage are further away from becoming customers. At this stage of awareness, buyers are not necessarily looking for a solution or a product, but answers to generic questions and educational resources.
A typical call to action at this stage would be to download a piece of content so you can capture the details of prospects or sign up for a newsletter.. But, as a goal at this stage is simply to sensitize your target audience, hopefully no immediate action is taken.
If someone is ready to download content, It is always good practice to include a call to action within this content to lead people to a MoFu content where the objective facilitates the evaluation of products and solutions.
It's all about UX design and mapping of your user journeys on your website to ensure that there is a clear journey for someone to follow if desired..
Funnel content examples principle
- Blog posts
- Social media posts
- Press release
- Industry reports
- White papers
What is the middle of the funnel content?
The main objective of half of the content of the funnel is to facilitate the evaluation of products or services, not just yours, but also those of your competitors. Your goal is to turn problem and solution-aware prospects into leads.
The KPI for content at this stage # leads generated from closed content.
Content in the middle of the funnel can often be objective and agnostic, not trying yet “to sell” your product or service, is providing useful information to help inform buyers looking for possible solutions to their problem.
A typical call to action at this stage of the funnel would be to download a piece of content from your website.
An example of a part of the middle funnel content would be a download guide on a specific topic, for example, a buyers guide that is closed behind a form.
Bottom of funnel content (BoFu)
The content at the bottom of the marketing funnel is intended to facilitate conversion, and by conversion , we mean being a customer. You are enabling potential customers to make an informed purchase decision.
Think about answering all the questions someone has about your product or service through your content.
The content at the bottom of the funnel is about your product and service and why they should choose you. The bottom part of the funnel content must also be specific to individual purchasing centers within a company.
For example, API documentation for a member of the technical team, pricing for key stakeholders and detailed product videos for end users. Consider providing your potential customers with the information they need to sell it internally.
A typical call to action at the bottom of the funnel content would be to book a demo or get in touch.
Bottom of the funnel content examples
- Product show
- In-depth product videos
- Comparison sheet / specification
- Case studies and testimonials
Website traffic acquisition
When your main goal is to raise awareness and generate more traffic to your website, exist 3 Popular digital acquisition channels used by B2B technology companies.
Organic search is when someone finds your website naturally through a search engine. It is the most popular acquisition channel of the 3 because it is the cheapest and generally has the highest conversion rates.
SEO is the practice of improving your search engine rankings so you can better rank and drive more traffic through 'organic search'. It is called organic because it is the user who naturally finds your business instead of you going out to advertise.
Paid search is a way of acquiring traffic by advertising on search results pages. He is going to the same channel (search engines), but paid search generally has a lower conversion rate and higher cost, but it is much easier than positioning yourself organically as it simply outperforms its competition.
Long-form vs. short-form content
My take on this is that the more in-depth, best. The principle is to answer a question better than anyone else and in more detail. There is so much information on the internet that short explanations and guides don't have much of a chance. Quick answers can be found in the SERP results and quick tutorials can be found on YouTube.
What is closed content?
Closed content is when a part of the content is hidden behind something, usually a web form, and the user has to fill in the form to get access. This is probably the most popular tactic in B2B marketing right now.. Why? Okay, works most of the time.
If a piece of content is really useful and you spend a lot of time putting it together and it has legitimate value, you have the right to hide it behind a form. This is how many publications make their money. There is also an element of scarcity here, there is something hidden behind a shape, the perceived value is higher than if it were not.
Producing closed content is another great digital marketing tactic for the top of funnel marketing.. You also have the added benefit of building your email list.. From this point, you can nurture contacts with more useful content using email drip campaigns (as an example).
The funnel is a simple framework to understand, is more difficult to implement, since it requires a lot of work. If you think you need help creating an effective digital marketing strategy based on the funnel framework, Get in touch.
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