How To Build A B2B Marketing Funnel That Grows in 2022

When it comes to your business, are you looking for ways to increase leads and sales? If so, the B2B Marketing Funnel may be a process worth exploring

Don’t have a funnel? Then it’s time to make one to help improve your marketing strategy!

 

Difference Between B2B and B2C Funnels

A common mistake when creating a B2B marketing and B2B sales funnel is to follow the outline of a B2C marketing funnel or direct-to-consumer conversion funnel.

A B2B marketing and sales funnel differ from other business types because the cost of the product or service tends to be higher.

Even in instances where the cost is low, there will need to be a stakeholder buy-in beyond the individual employee shopping around.

This means the B2B customer journey is long; the account-based marketing and sales funnel need to account for this.

 

What is a B2B marketing funnel and why do you need one

When it comes to your business, are you looking for ways to increase leads and sales? If so, the B2B Marketing Funnel may be a process worth exploring. A funnel is a process that takes potential customers through a series of steps, from awareness to purchase, in order to convert them into loyal customers.

Businesses need to have a plan in place to know how their funnel will make the most sense for them. A well-run B2B marketing funnel is the key to success for any business.

It can be customized to fit the needs of your business, and it’s essential to have a plan in place, so you’re using it to its fullest potential.

The different stages of a typical B2B marketing funnel

A company’s lead generation and conversion process is known as the “funnel,” It includes many steps. The objective of every step on the journey from awareness to purchase is to either qualify or disqualify the lead. The stages in a typical funnel are:

1. Awareness: Prospects become aware of your product or service, or the potential customers are just starting to become aware of your product or service. This is where you’ll need to use effective marketing techniques to grab their attention. You can do this through advertising, online content, or word-of-mouth

Because we know that most B2B purchases are not made on a whim, there also needs to be a content funnel to get the potential customers to raise their hands and say “I want more information” while they are on your website.

Here are key actions that should happen in this phase:

1. A potential customer enters your website
2. Watches your pre-recorded demo
3. Follows on at least one social media channel
4. Signs up for a webinar or downloads content (eBook, guide, etc.)
5. Gets automatically added to an email nurture campaign

2. interest:Prospects learn more about what you have to offer and may express interest in buying. This is where you’ll need to provide helpful and informative content relevant to their needs. You can do this by providing them with more information, showing them how your product or service can benefit them, or giving them a free trial.

3. consideration:Once you have a steady flow of interested prospective customers that fit your ideal buyer persona entering the top of your funnel, they move into the consideration phase.

This is where the B2B buyer weighs the pros and cons for using or servicing your product over the competition.

Here are key actions that should happen in this phase:

1. Potential customer starts receiving automated emails.
2. Opens emails to learn more about features/benefits
3. Clicks emails to read more information on site
   1. Product comparisons
   2. Detailed pricing information
   3. Signs up for a free trial or demo
4. Optional - Responds to feedback survey about why he/she didn’t sign up for a free trial or demo if applicable.

To know if you have any leaks in the awareness stage of your marketing funnel, you should be looking at these KPIs:

• Email open rate
• Email click-through rate
• Engagement with informative content on the website
• The conversion rate for free trial or demo sign up

If you’re seeing many people come in through the awareness stage of your funnel, your email list should be growing nicely.

Once on your email list, your content marketing pieces should nurture the buyer into better understanding your offering.

If the potential buyer is not engaging with your emails, you’ll know you need to evaluate the messaging you’re using.
 

4. Evaluation: Prospects decide if they want to buy your product or service. Whether or not your product is a good fit for their needs. This is where you’ll need to make a strong case for why they should buy from you.
Here are key actions that should happen in this phase:

• Download a software trial or attend the demo
• Install/sign up for trial software
• Receives automated nurture emails to drive towards the purchase
• Clicks emails to read more information
  • Current sales promotions
  • Competitive advantages
  • Key benefits
• Identify hot leads to the surface sales team
• Optional- Responds to feedback survey about what he/she likes and doesn’t like about the software or service.

To know if you have any leaks in the awareness stage of your marketing funnel, you should be looking at these KPIs:

• The conversion rate for installing trial software or attending the demo
• The conversion rate for completing setup and using software
• Engagement with a sales rep

At this point, your marketing efforts have gotten your lead to the point that they are ready to try your product or service - now the sales process kicks in.

Whether the lead moves on to purchase or not depends on if what you have to offer works well and is a great fit.

If you find that a lot of leads install your trial but don’t go on to use the product (aka they abandon the trial), it’s time to dive in with your product team to find out why the customer experience is less than ideal.

5. Purchase: Prospects have decided that they want to buy your product or service. They would complete a purchase and become a customer. This is the time to make the sale and convert them into customers. You can do this by providing them with a discount, free shipping, or a money-back guarantee.

5. Loyalty: Customers become repeat buyers and advocates for your company. This is the goal of every business: to have loyal customers and continue to buy from you. Keep your new customers happy and make sure they come back for more. You can do this by providing excellent customer service, offering new products, or giving them a loyalty program.

The steps in a typical funnel are not always linear, and some prospects may move back and forth between stages depending on their individual needs and preferences. It’s important to have a plan in place so that you can track your progress and make necessary adjustments.

How the B2B Marketing Funnel can help your business

A well-run funnel can help your business increase leads and sales. It’s important to have a plan in place so you know how your funnel will make the most sense for you. Customize it to fit the needs of your business. With a well-developed strategy in place, you can use your marketing funnel to grow your business.

The different stages of the funnel are designed to help you:

1. Generate more leads: The top of the funnel is where you’ll capture the attention of potential customers and get them interested in what you have to offer.

2. Convert more leads into customers: The middle of the funnel is where you’ll make your case for why they should buy from you. You’ll need to provide helpful and informative content relevant to their needs.

3. Increase sales: The bottom of the funnel is where you’ll make the sale and convert them into a customer. You’ll need to provide excellent customer service and follow-up, so they’re happy with their purchase.

4. Retain customers: The loyalty stage is where you’ll keep customers coming back for more. This is the goal of every business: to have loyal customers and continue to buy from you.