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How to Improve Your Conversion Funnel Marketing Conversion funnels drive website revenue growth by guiding your prospects in their buyer's journey from a complete stranger to a website visitor to a lead and ultimately into a customer. I'm Joshua Feinberg from SP Home Run. In this video, we're going to talk all about how you can get better marketing and sales results from your conversion funnels. But before we get into that, can I ask you to just take a moment and Subscribe to this YouTube channel and ring the Bell so you can be notified when new content just like this becomes available. Now, regardless of whether your company consummates sales 100% online or generates opportunities for your sales force team, conversion funnel marketing becomes a significant part of your growth engine in a digitally-transformed world. In this video, we're going to look at how you can improve the results that you get from your conversion funnels. Now, first up, we want to talk about optimizing your conversion funnel strategy. To build and optimize a conversion funnel at a high level, focus on these three dimensions. First of all, who is your buyer persona that this conversion funnel is being built for? And what customer insight, what research, do you have, do you already know about this particular persona. A buyer persona is a semi-fictional representation of an ideal client based on actual research and some select educated speculation. First up, who is this conversion funnel being built for? Second, where is this buyer persona in their buyer's journey? Are they early on in their research process? Are they in the awareness stage? Are they kind of in the middle of this? Are they in the middle of the sales process, in the middle of their journey, in the consideration stage? Or are they later on in their research processes? Are they actually ready to talk to a salesperson? Are they in the decision stage? And then third, what actually is the goal of this conversion funnel? What is your conversion goal? What meaningful business goal does this conversion funnel actually help with? What exactly is conversion funnel marketing? And why is it so important to your customer success? In a high value B2B technology context where there is a considered sales process and buying decisions with multiple stakeholders? Conversion funnel marketing is all about exchanging value between an anonymous website visitor, that initial conversion or a known lead reconversion that furthers a business conversion goal for your company. It could be an initial conversion. It could be multiple conversions that lead to you determining that someone is a marketing qualified lead, and then a sales accepted lead, an opportunity, then a customer and ultimately a recurring customer, a promoter or evangelist. In a digitally-transformed world where so much of the buyer's journey is now happening before people are open to having a conversation with someone from your company, someone from your sales team, conversion funnels really are responsible for educating and building trust with prospects. This is a really, really big deal. A lot of people are overlooking that. So when thinking about your funnel stages, keep the following frameworks in mind. First of all, think about the inbound methodology. What can you do to attract, engage and delight more of your prospects and customers? So your prospects become customers and your customers become brand ambassadors that help to bring you more prospects. Think about the buyer's journey. This is the active research process someone goes through in between when they first have a goal they're trying to achieve or a problem that they're trying to solve. In other words, the journey from a stranger to completing a purchase and then recurring purchase if you're a subscription based company. they have awareness of a problem or a goal. They have consideration, like comparing their different options, and then at the decision stage, they're looking for actual products or services to purchase. The other framework to think about when it comes to improving your conversion funnel marketing is jobs to be done. This was the jobs theory; something created envisioned by the late Clayton Christensen. who was a Professor at Harvard Business School. So what actually is the prospect trying to accomplish? What is the job they're trying to do? What is the prospect actually hiring your company to do for them? What is that job now? What can you do to improve your conversion funnel? We've talked about optimizing your conversion strategy, we talked about what a conversion funnel is and how it's important to your success. A conversion funnel is only as good as the value that it's offering to a prospect or a customer. In long sales cycle B2B marketing is typically broken up into different stages. You need to be able to attract prospects as early on. However, in their buyer's journey, where there's an opportunity to be the one that's educating prospects on how they navigate their whole buyer's journey, usually there's one or more conversion funnels that they go through at different stages, supporting them through that research and decision-making process. So you want to optimize your conversion funnel around using content and context to help your prospects accelerate themselves on their own through the buyer's journey until they're to the point where they raise their hand and say, "Yes, I'd like to speak to somebody." Also, think about how you can impact what comes in front of the conversion funnel, like your traffic generation and what happens after the conversion funnel. For example, in B2B, the marketing and sales handoff and sales and marketing alignment, lead nurturing, email workflow automation. Now, depending on your company size and your market, conversion rate optimization or CRO, experts that are truly full-funnel in their approach can provide so much more value than someone that's just working on a single piece of the funnel. And that becomes an even bigger deal in a long sales cycle. Heavily considered B2B purchase decision, usually big ticket purchase decision. What you need to do to avoid the biggest mistakes in conversion funnel marketing? By far and away, the biggest mistake with conversion funnels is allowing egos and personal opinions of non-marketers and sometimes even marketers to contaminate the conversion funnel experiments. As W. Edwards Deming is legendary for saying, "In God, we trust all others bring data." Although the Hippo, the highest paid person in the organization, is often very effective at manipulating junior marketers into to adopting their worldviews and their can't go wrong opinions, hunches and opinions need to actually be tested and need to be validated. And as your company culture sees value in these experiments, around conversion funnel marketing, it's really important to empower the right people to be able to run the right experiments and allow them to run long enough to get statistically valid data to truly benefit your revenue growth. What is your company doing to try to improve your conversion funnel marketing? And what kind of results have you been getting so far? Let me know in the comment section down below. And if you're looking for some one-on-one assistance with improving your own conversion funnels, feel free to look me up on LinkedIn. Send me a note. Let me know what kind of help you're looking for, and we may be able to work together. I'm Joshua Feinberg from SP Home Run. And I wish you great success in improving your company's conversion funnel marketing. Hey there.