How to Improve Your B2B Profitability Using a Marketing Funnel Management System
By using a marketing funnel management system it is possible to improve the profitability of your B2B business. Most businesses are likely to be running CRM (Customer Relationship Management) software, and are also likely to be using it to only a fraction of its capability because CRM in itself is only part of the answer to managing the marketing and sales aspects of a business.
Too many businesses separate sales and marketing to the extent that they feel obliged to compete, and unfortunately, while healthy inter-departmental competition can be of benefit for many companies, it can also have a detrimental effect without some form of control. clickfunnels free trial That control can frequently be provided by automated lead scoring systems with pre-set rules.
However, even better would be to combine marketing and sales efforts into a result that compares leads entering the funnel against customers leaving it. In other words, the combined efforts of marketing and sales functions are integrated to a single objective.
How can that be put into effect? Any system or extension of marketing and sales functions must be part of your existing CRM system, and an automated marketing funnel management system would have to be integrated with your current CRM software. Were that not the case then you would have different and possibly conflicting systems operating concurrently – and that rarely results in success.
Given that a marketing funnel management system could be integrated with your CRM software, what should its objectives be in order for it to be successful in improving the profitability of your B2B business? First, the software will focus on B2B, so that it should be designed to help a company that does business with other businesses. This offers the advantage that the lead is seeking a genuine solution to a problem. Businesses should not be surfing the net for fun.
If they get to your website then they can be classified as genuine leads, and not passers-by clicking for the sake of it. Lead scoring software can immediately score such clicks positively, and you can offer inducements such as white papers or free trial products in the knowledge that they will be accepted only by interested businesses and not by individuals seeking freebies!
Those entering your marketing funnel can then be nurtured and scored as they pass through it. All of this is carried out automatically, with scoring initiated with specific action events, such as offering contact details, downloading a white paper or even just visiting the site. Professional lead scoring can be integrated with your CRM system that holds the lead’s details in a database, and maintains the statistics and position of each lead within the marketing funnel.
A lead nurturing system can be employed to analyze the needs of the lead from response to certain triggers, and be offered free publications that relate to the leads of the specific need. A white paper or free report can be provided, and later in the funnel a lead, perhaps now qualified as a prospect, could be offered a low-cost product that relates to their specific interest.
Eventually, the marketing funnel management system will identify qualified customers that have purchased specific products related to their business. You can mark that point as the bottom of the funnel or you could (preferably) mark it as one more stage on the way downwards. It is one more qualifying step, after which even more effort is made with what is now a customer.