Enhance your Business Efficiency with Funnel b2b for Banking

How to create outlook signature

hi i'm emily liu and welcome back for more b2b content from cognizam europe's sales intelligence specialist this week i am asking the question what happens if you turn the b2b marketing funnel upside down to find out the answer keep on watching [Music] the idea for this video all began when we saw a linkedin post by alex olly co-founder and cro of reach desk in it alex identified a problem with the traditional b2b marketing funnel and went on to suggest a solution we loved alex's theory so much that we decided to make this whole video about it starting with the traditional v2v marketing funnel every b2b marketer worth their salt would have seen it but just to refresh some memories this is what the traditional b2b marketing funnel looks like it starts with a tract where anonymous customers first engage with your brand's content if those customers carry on engaging they progress to the nurture stage here you have to keep delighting your customers turning them into regular visitors the third stage is convert when visitors start investigating more about your company and are qualified as good sales leads then if all goes well those leads will start converting into paying customers this is the closed stage the final stage is delight here you want to turn your customers into advocates people who will bring more customers into your organization through referrals and word of mouth now you might be thinking emily this is all good that's exactly how i run my marketing at my business well here are four reasons why this approach doesn't work number one it's wasteful it can take you a lot of time and resources to sort the high quality leads from prospects who aren't interested in your product secondly it's arbitrary the traditional b2b marketing funnel is like fishing with a net it scoops up both the people who are interested in the business and the people who aren't why would you want to attract people who will never want to buy from you number three is impersonal this approach treats people as leads not as human beings it doesn't make you think in a customer-centric way leading to poor customer experiences with your brand and this is bad in the long term if you keep producing irrelevant content buyers won't keep coming back to you and lastly it's unprofitable it produces fewer conversions and lower revenue for your business if now you're thinking emily you have convinced me but how do i solve all these problems it is simple all you have to do is turn the v2b marketing funnel upside down like this these are the stages of the flipped b2b marketing funnel number one is identify who your ideal customers are based on your ideal customer profile number two expand on their pain points and desires you need a deep understanding of the challenges your customers are facing and how your product can help three engage at the right times and places you have to create content that delivers value and is distributed where your ideal customers will see it and lastly number four is advocate the goal is to convert your ideal customers into passionate fans of your business they'll act as a separate marketing channel of their own i helping you to identify and engage with more ideal buyers now you've seen what the flipped marketing funnel looks like but why does this approach work let me tell you number one is economical the flipped b2b marketing funnel focuses resources on your ideal customers those target accounts who have had a much higher chance of converting number two it's targeted unlike the traditional funnel you're not spraying and praying the flip funnel ensures you're not wasting time on chasing on the wrong accounts three it's customer centric the flip funnel model puts the customers at the top of the funnel rather than at the bottom and it treats your customers as people to be engaged with not as least to be moved through stages and number four it's profitable this approach assigns every opportunity not as an mql but as a revenue target in its own right it means that sales and marketing become aligned and jointly own revenue goals and with both teams working towards the same results sales and marketing will become much more efficient meaning you'll quickly see better conversion rates and higher revenue if you're thinking emily i like this but getting it started at my business it sounds like a lot of hard work then don't worry the truth is it isn't that difficult to kick this off here are three steps that will help you flip the marketing funnel today number one and get buy-in from the entire organization to run account based marketing you need to get buying from the very top all the way down to the most junior highest what you have to do is prove that it can work start off by running a pilot campaign that follows the identify expand engage model once that started delivering results then you can go into the c-suite present your results and show them the difference it can make emphasize the value that the flipped marketing funnel can bring to your company number two is align marketing and sales the flipped funnel should be part of a wider strategy bringing sales and marketing together a practical way to start this process is to share things like revenue goals incentives and rewards across sales and marketing get both teams thinking in terms of revenue rather than leads and the third point is deliver great content at every stage of the buyer's journey this shouldn't be as time consuming as it sounds if you really got a library of content repurpose it for example you could edit a white paper to make it relevant for different markets or territories or you can turn a old blog post into a fun and engaging video bottom line is b2b marketing don't be afraid to be creative and different and that is all thanks for watching and thank you to alex for his inspiration what do you think of this idea could you see it working at your company do leave your thoughts in the comments i'd love to hear your feedback check in soon for my next video when i'll be giving you some tips on choosing your sales data provider until then don't forget to like share and subscribe bye for now