Optimising leads in the middle of the sales funnel requires brands to build trust and demand generation through a targeted lead management process. In this article, we will outline why no business should neglect the tricky middle of the funnel stage. In part 2 of our 3 part series, we delve into lead generation hacks to optimise the middle of the sales funnel. Our MoFu lead management hacks increase pipeline velocity all the way to sales won.
This article is part 2 in a three part lead generation step by step special. Check back next week for part 3.
Why the middle of the sales funnel (MoFu) matters
Firstly, the middle of the sales funnel is crucial. This is where acquired leads can be lost or won. Secondly, prospects here have moved from awareness to evaluation. They are seriously considering your product and/or service and are seeing how you stack up against the competition.
By focusing on lead management via lead scoring and lead nurturing, businesses provide right time, right content, right prospect messaging. These push your prospects further down the sales funnel.
Do I need lead management?
An effective lead management programme brings clear economic benefits – allowing businesses to sell more and generate more revenue whilst simultaneously lowering costs.
Indeed, the stats speak for themselves. Companies that nurture leads effectively generate 50% more sales ready leads at a 33% lower cost. 68% of marketers believe that lead scoring is a top revenue contributor with fewer lost opportunities. Win – win – win.
Need support creating a middle of the funnel strategy that works for you? Call 01565 632206 to book a free marketing consultation with a Think Beyond marketer.
Lead generation hacks to optimise the middle of the sales funnel
In MoFu, demand generation should be your number one priority. Here’s our top tips for increasing velocity and pushing leads further down the sales funnel:
- Set out your value proposition: You can bet that leads in the middle of the funnel are aware of at least one of your competitors. Clearly set your value proposition and what makes you unique.
- Provide specifics: generalised content won’t do here. Think whitepapers or technical specifications. Similarly, target your content (that is everything from downloads to e-books, emails, printed materials and even online ad copy) to answer how you solve a specific problem. An effective content marketing strategy comes into its own in the middle of the funnel to support lead nurture.
- Promotions: to sweeten the deal could you offer free shipping? Maybe a reduced priced package if an annual subscription is taken? These tactics can be especially useful if your product or service offering is very similar to your competitors.
- Provide proof: case studies and past customers can become your best brand assets. Similarly, never underestimate the power of reviews and social proof.
- Email drip campaigns and more: automate your marketing outreach across email, SMS and more with a defined marketing automation strategy.
- Get your sales and marketing teams on the same page: nothing puts the brakes on conversions more than an incongruous buyer journey. Your sales and marketing teams should work in tandem to help create a frictionless prospect journey. Get tailored advice on aligning your sales and marketing teams today.
Increasing pipeline velocity means optimising the middle of the funnel
Nurturing leads towards sales won is a good step to support consideration only so the job does not end there. It is also crucial to monitor any areas of pipeline drop off during the middle of the funnel. Slow moving and leaky sales funnels can sap company budget and resources, seriously hindering conversion rates.
Sales funnel analysis can quickly help to identify where leads are getting lost and provide the insights needed to guide conversion rate optimisation activities. Furthermore, by assigning clear percentages to drop off rates, funnel science helps you to understand prospects and their needs. After all, the name of the game is to bring in quality leads that can make the leap from MQL (marketing qualified lead) to SQL (sales qualified lead) and sales won.
Find out how to fill and manage your funnel by booking a no obligation marketing health check today.
ABM and OBM lead management hacks
If the middle of the funnel demands tight lead management, many businesses deploy key account programmes. Account based marketing is ideal for B2B to manage leads. It’s easy to see why – ABM demands targeted, personalised content and close sales and marketing alignment.
But an emerging group of businesses are taking ABM one step further into OBM, or opportunity based marketing. This approach takes all that is good about account based marketing and infuses it with real time signals and tight sales and marketing alignment. Ultimately, insight into leads allows targeting as personal as 1-1 or 1-cluster and OBM is scalable with efficiency at its core. And the results? How about a 400% increase in pipeline value.
Furthermore, cast your mind back to part one where we looked at top of the funnel techniques such as predictive marketing to gain insight into leads.
Mofu to BoFu
The middle of the funnel really is a pivotal stage in the buyer journey. If you lose prospects here then you have lost them forever.
Educate prospects and invest in targeted lead management, ABM/OBM or other, to convince leads that you offer the best solution.
Finally, now you’ve read our lead generation hacks to optimise the middle of the sales funnel, let’s move down. Check out our bottom of the funnel marketing tactics to increase conversions. Find even more insight by subscribing to our blog.