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Optimize Your Sales & Marketing Funnel
The document outlines a framework for optimizing a sales and marketing funnel by identifying and eliminating blockage points that restrict customer flow. It emphasizes the importance of aligning marketing efforts with sales goals, automating processes, and understanding customer motivations at each stage of the buying journey. The framework is structured into nine steps that transform a sales-driven design into a customer-centric approach, ultimately enhancing lead generation and conversion rates.
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Optimize Your Sales & Marketing Funnel
- 1. OPTIMIZE YOUR SALES &MARKETING FUNNEL Brand Advertising Email Events Marketing PR Webinars Sales Social Tradeshows Media
- 2. HOW TO FIND PROBLEMS… … AND CREATE SOLUTIONS
- 3. EVERY BUSINESS HASA SALES FUNNEL Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Customers Customers Customers
- 4. Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects BUT EVEN IF YOU ARE MICROSOFT, CISCO, ORACLE, OR GOOGLE YOUR FUNNEL WILL HAVE BLOCKAGE POINTS
- 5. WE’RE GOING TOLOOK AT HOW TO FIND AND ELIMINATE THOSE BLOCKAGE POINTS Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects Suspects AND IN THE IN THE PROCESS, HELP GREATLY INCREASE Customers Customers YOUR SALES Customers Customers Customers Customers Customers
- 6. BUT FIRST LET’SLOOK AT SOME BEST PRACTICES FOR DESIGNING YOUR FUNNEL I CALL THIS “BUILDING A SALES & MARKETING MACHINE”
- 7. ? WHAT IS A “SALES& MARKETING MACHINE”
- 8. CLEARLY DEFINED LEVERS THAT YOU PREDICTABLE PULL TO MAKE IT GO FASTER SALES & INSTRUMENTED SCALABLE MARKETING WITH GREAT MACHINE 9 METRICS AUTOMATED COST OPTIMIZED
- 9. HOW DO YOUGO ABOUT BUILDING ONE OF THOSE?
- 10. 9 STEPS
- 11. 4 WHY 4 FIRST? BECAUSE1, 2 AND 3 ARE NOT OBVIOUS SO WE WILL COME BACK TO THEM AT THE END AFTER WE HAVE SEEN WHY THEY ARE SO VALUABLE
- 12. 4 ALIGN ALIGN EVERY MARKETING ACTIVITY AROUND ONE GOAL… CREATING LEADS THAT HELP SALES CLOSE MORE DEALS
- 13. Sales CLOSED DEAL
- 14. Blogging Social Media eMail Campaigns CLOSED SEO Sales DEAL Webinars SEM PR
- 15. RULE NUMBER 1 Ifit doesn’t create a lead, or directly contribute towards closing a sale, it doesn’t belong
- 16. Sales CLOSED DEAL
- 17. RULE NUMBER 2 Ifthe cost per lead is too high, it doesn’t belong Exception to this rule: If you can recover cost through: • higher conversion rate to closed deals • higher average deal size
- 18. Sales CLOSED DEAL
- 19. 5 LINK
- 20. CLEARLY LINK FLOWSFROM START TO FINISH $ SEO LANDING FREE EMAIL SALES CLOSE PAGE TRIAL CAMPAIGN TOUCH 1. At the end of every action, there should be a clear link to the next action 2. The overall flow from start to finish should be carefully designed 3. Every action should contribute clearly to moving the lead through the closed deal
- 21.
- 22. YOUR CUSTOMER’S PURCHASING STAGES PURCHASE CONSIDERATION CLOSED DEAL AWARENESS
- 23. AN ORGANIZATIONAL METAPHOR FORTHE KEY FUNNEL STAGES SALES MIDDLE OF THE FUNNEL CLOSED DEAL TOP OF THE FUNNEL
- 24. WHAT IS TOPOF THE FUNNEL? customer is not aware customer has a they have a problem, or problem and is that your product looking for a solution category exists GENERATE GET FOUND AWARENESS
- 25. WHAT IS TOPOF THE FUNNEL? RAW LEAD GENERATE WEBSITE AWARENESS
- 26. WHAT IS TOPOF THE FUNNEL? RAW LEAD GENERATE WEBSITE AWARENESS & GET FOUND Inbound marketing • Blogging • SEO/SEM • Social Media • Influencer Campaigns • Blogs, Press & Articles • etc. Outbound marketing • Cold Calling • etc.
- 27. WHAT IS THEMIDDLE OF THE FUNNEL? NURTURE QUALIFY MQL (MARKETING QUALIFIED LEAD)
- 28. WHAT IS THEMIDDLE OF THE FUNNEL? NURTURE QUALIFY MQL (MARKETING QUALIFIED • Webinars LEAD) • Free Trials • eMail Campaigns • Newsletters • etc.
- 29. PROBLEM: MARKETING SAYS THAT’S RIDICULOUS, I GAVE SALES SAYS THEM A TON OF LEADS. MARKETING ISN’T THEY JUST DON’T FOLLOW UP ON THEM GIVING THEM PROPERLY. ENOUGH LEADS MARKETING SALES
- 30. CAUSE: SALES CALLS A FEW UNQUALIFIED LEADS, AND FINDS THEY ARE WASTE OF TIME - THEY STOP CALLING THE REST OF THE LEADS SALES
- 31. SOLUTION: GET AGREEMENT ON THE QUALIFICATION CRITERIA NEEDED TO BE ABLE TO PASS A LEAD ACROSS TO SALES (MQL) MARKETING
- 32. SALES FURTHER QUALIFIESTHOSE LEADS TO SALES FIND OPPORTUNITIES
- 33. USING BANT BUDGET AUTHORITY NEEDS TIMING
- 34. COMMON LEAD STATES RAWLEAD CLOSED DEAL MQL OPPORTUNITY (MARKETING QUALIFIED (SALES QUALIFIED LEAD) LEAD)
- 35. 6 AUTOMATE
- 36. AUTOMATE THE KEY FUNNELSTAGES SALES MIDDLE OF THE FUNNEL SELLING & CLOSING CLOSED NURTURING & DEAL QUALIFYING TOP OF THE FUNNEL CREATING AWARENESS & DRIVING TRAFFIC
- 37. SALES MIDDLE OF THE FUNNEL CRM CLOSED MARKETING DEAL AUTOMATION TOP OF THE FUNNEL INBOUND MARKETING
- 42. 7 MEASURE "IF YOU CAN NOT MEASURE IT, YOU CAN NOT IMPROVE IT." - LORD KELVIN
- 43. THE KEY METRICS CAMPAIGNS TO DRIVE TRAFFIC VISITORS OVERALL CONVERSION % CONVERSION % TRIALS (BY LEAD SOURCE) CONVERSION % CLOSED DEALS
- 47. 8 ANALYZE
- 48.
- 49.
- 50. WHAT IS STOPPINGME FROM INCREASING SALES BY 5X ?
- 56. 9 IMPROVE
- 57. IN DIAGNOSING MANYFUNNEL BLOCKAGE POINTS, I HAVE FOUND THAT THERE IS A CLEAR PATTERN…
- 58. YOU ARE HOPINGYOUR CUSTOMERS WILL DO SOMETHING THAT THEY ARE NOT MOTIVATED TO DO
- 59. IN OTHER WORDS… YOUDESIGNED YOUR FUNNEL THE WAY YOU HOPED IT WOULD WORK… BUT YOU MAY NOT HAVE THOUGHT ENOUGH ABOUT THE CUSTOMER’S POINT OF VIEW
- 60. JBOSS EXAMPLE PUT AREGISTRATION FORM ON THEIR WEB SITE BEFORE A FREE DOWNLOAD IMPACT CUT THE DOWNLOAD RATE BY MORE THAN 10X
- 61. GET INSIDE YOUR CUSTOMER’SHEAD CONCERNS - Hate being sold to - Find it offensive to give name and email - Don’t want to get spam sales emails - Worried that email address will be given to other marketers
- 62. UNDERSTAND WHAT MOTIVATES THEM CONCERNS MOTIVATIONS - Want to solve my problem - Recommendation from a friend - Education - Data/ information reports - Entertainment - Free stuff - Meeting other people like me that have insights to share
- 63. CREATE A SOLUTIONTHAT ENTICES THEM AND ADDRESS THEIR CONCERNS CONCERNS ENTICE & ADDRESS CONCERNS - Customer testimonials address vendor risk - Free trials address product viability and fit concerns - Lowest price guarantees
- 64. JBOSS example - FREEopen source software - downloaded 5 MILLION times - selling documentation $27,000 per month
- 65. JBOSS example a carrot to incent them to provide NEEDED: an email address SOLUTION: give away the documentation for free RESULT: 10,000 leads per month
- 66. EXAMPLE: DRIVING TRAFFICTO YOUR WEB SITE GETTING FOUND Not going to find your site unless: concerns - On top page of Google search results - Recommended by a trusted source - Referred to in social media or blogosphere
- 69. LESSONS FROM WEBSITE GRADER • Free tools drive viral spread • Low customer work required • High value delivered • Score leverages competitive urge • Builds trust through clear demonstration of expertise
- 70. GOOD LINKAGE TONEXT STEP
- 71. using engineering formarketing
- 72. USING DATA TODRIVE WEB TRAFFIC SYSOMOS: SOCIAL MEDIA MONITORING LEVERAGED THEIR DATABASE TO CREATE BLOG POSTS WITH DATA ON TOPICS OF CURRENT INTEREST: • IRAN ELECTION RIOTS • TWITTER’S GROWTH • FACEBOOK USAGE
- 74. LED TO: SYSOMOS ARTICLES IN ECONOMIST, NY TIMES WEB TRAFFIC TO READ THE FULL REPORT LEADS – IMPRESSED BY THE CAPABILITIES OF THE SOFTWARE
- 75. GETTING CUSTOMERS TOSIGN UP FOR A TRIAL - I don’t have the time - I don’t want to get spam email concerns - Yet another password to remember
- 76. RE-THINK THE PROCESS CONVENTIONAL SIGN UP CONVERT APPROACH FOR TRIAL WOW! TO CUSTOMER WOW! FIRST, CONVERT SIGN UP TO REGISTER LATER WOW! FOR TRIAL CUSTOMER Source: Josh Porter – Designing for Social Traction
- 78. 1 4 2 3
- 79.
- 80. GETTING TO EXECUTIVE DECISIONMAKERS TECHCRUNCH FOR INSURANCE CLAIMS
- 81. DROPBOX: SIMPLE FILESHARING SOFTWARE – Get you hooked for free – Storage slowly increases to the point where you need to pay – But by then they have established trust – And it is hard to move your data that is shared with others
- 82. First Contact Sell Build Build First Contact Sell Relationship Trust
- 83. SELLING IS 10X EASIER… ONCE YOU HAVE ESTABLISHED TRUST
- 84. YOUR BLOG CANESTABLISH TRUST… HOW?
- 85. VALUABLE CONTENT EDUCATION INFORMATION ENTERTAINMENT WITH ZERO SELLING
- 86. THE KEYS TOSUCCESS DEEP UNDERSTANDING OF YOUR CUSTOMER • What don’t they like? • What do they like/need? • What motivates them? • What are their problems? • What does their boss expect of them? • etc. Combined with OUT-OF-THE-BOX THINKING
- 87. APOLOGIES MYEXAMPLES ARE ALL SOFTWARE COMPANIES THIS APPLIES EQUALLY WELL IN OTHER BUSINESSES
- 88. FINALLY… LET’S GO BACKTO THE BEGINNING…
- 89. …AND INTRODUCE THREE NEWSTEPS AT THE BEGINNING OF THE FUNNEL DESIGN PROCESS…
- 90. 1 IDENTIFY IDENTIFY ALL THEPEOPLE INVOLVED IN THE PURCHASE DECISION
- 91. 2 UNDERSTAND SKETCH OUT THEIRBUYING PROCESS AND CONCERNS AT EACH STAGE
- 92. 3 ENTICE ADD THE STEPSTO ADDRESS THEIR BUYING PROCESS AND: ADDRESS THEIR CONCERNS ENTICE THEM
- 93.
- 94. WE WENT FROM THIS: 1.Align 2. Link 3. Automate 4. Measure 5. Analyze 6. Improve
- 95. TO THIS… 1. IDENTIFY 2. UNDERSTAND 3. ENTICE 4. Align 5. Link 6. Automate 7. Measure 8. Analyze 9. Improve
- 96. THE NINE STEPS 1.IDENTIFY Identify people in purchase decision 2. UNDERSTAND Address their buying process and concerns Design actions to pull them through buying process 3. ENTICE & address concerns 4. ALIGN Ensure funnel actions lead directly to sales 5. LINK Link every funnel action to the next step 6. AUTOMATE Use software to automate 7. MEASURE Measure key funnel metrics 8. ANALYZE Identify blockage points Brainstorm better enticements and ways to address 9. IMPROVE concerns
- 97. SALES-DRIVEN FUNNELDESIGN TO A CUSTOMER-CENTRIC FUNNEL DESIGN