How to Create a Lead-Generating Marketing Funnel
Understandably, generating sustainable long-term leads is a challenge. It takes time and effort to win over customers. It's especially difficult for SaaS businesses since they provide technical products that are harder to differentiate. That being said, many built excellent lead-generating marketing funnels. They’ve done that by building a long sales funnel that prioritizes raising brand awareness, capturing potential customers' interest, and nurturing leads over time.
Most SaaS companies ignore marketing fundamentals in favor of quick results. These businesses advertise mostly by booking a demo and sale of their SaaS product to get quick sales. They ignore all other components of the sales funnel, including brand awareness, capturing interest, and lead nurturing.
This drive to get more customers now results in an unsustainable business model. These businesses do well in the start but quickly hit a wall later on that keeps them from progressing further. As a result, many of these companies spiral into confusion, not understanding that the problem stems from their marketing approach.
The following three steps highlight how SaaS businesses can sustainability generate leads for their business in the long term.
Brand awareness measures how familiar consumers are with a brand and their products. The more people are familiar with your brand, the more they're likely to spend on you. That's because brand awareness builds trust that you'll solve their problems. So naturally, every business wants to have as much brand awareness as possible.
In fact, some 80% of your potential customers either don't know they have a problem you could solve or they're aware of the problem but not actively looking for a solution. You'll want to target this 80% of potential customers to build a sustainable business. These people will spend on your product, but you have to tell them how you'll help first.
Effectively, you'll generate demand by informing people they have a problem and providing them with a solution. This process is known as demand generation, and there are many ways to achieve it. One of the best strategies is to give 'gifts,' which in this context is free information.
These gifts are invaluable pieces of information distributed via blog posts, articles, videos, social media posts, and infographics. The purpose of the gifts is to highlight what problem the consumers face and how you can fix it.
To be effective, your gifts must have the following qualities:
● Your content must to targeted to your niche audience
● The content must focus on providing value rather than selling a product.
● The content should be educational and entertaining.
● You must regularly post content.
● Your content should only subtly hint at your company's products.
The next phase of the marketing funnel is capturing consumers' interest. For this phase, you'll try hooking onto the consumers whose attention you captured in the previous step. You'll achieve this by giving free mini-products to your audience. Examples include ROI calculators, webinars, e-books, and white papers.
The mini product must provide a quick solution to a specific problem. The idea is to treat the mini products like actual products. So you'll need an entire marketing strategy for them, too.
The goal of this strategy is to capture organic traffic. You'll do so by promoting your mini products through all your marketing channels with your other products. You may need a consultation with your SaaS team on how to integrate the mini product with your mainland offerings.
Integrating your brand awareness efforts with your mini products is an excellent strategy. For example, you could link your blog posts to promote your webinar or include video links in your e-books. The idea is to make it easier for consumers to find your mini-products while interacting with your other offerings.
The nurturing phase is about establishing a relationship with consumers. You'll use the 7-hour rule to achieve this. The 7-hour rule states that the average buyer needs to spend 7 hours with you over 11 interactions in 4 locations to feel comfortable buying from you. This means you want to interact with a consumer on as many opportunities as possible.
Automated sequences are the best way to go about this in today's digital era. Doing so massively boosts interaction between your brand and potential customers. For example, you could send customers an email newsletter when they sign up for your webinar. This way, you'll interact with consumers in their inbox and the webinar.
Use the following three tips to effectively achieve a sustainable market funnel.
Many SaaS companies make the common mistake of only using ads for their main products. They receive little return. The reason is that ads are best suited for making your marketing funnel flow instead of boosting sales. Few customers will buy directly after seeing an ad. Instead, use ads to increase brand awareness.
Ad retargeting involves reminding customers of your products after they've visited your website. For example, a website visitor may have spent several minutes on the landing page for one of your products without purchasing. You could show them ads highlighting product features that may convince them to make the purchase.
One of the most effective ways to boost your marketing is to have a visible founder with a core foundation on which your brand is based. Showcasing this personal touch helps customers relate to your brand. You can do it by showing how your founder identified a potential problem and fixed it or by linking your founder's socials with the company's.
In conclusion, a sustainable lead-generating marketing funnel for SaaS businesses focuses on marketing fundamentals. Your business should prioritize building brand awareness and earning consumer confidence. You should capture and nurture leads with value-based marketing to build a sustainable sales funnel.