Part 1: What is an Enterprise Inbound Marketing Funnel?
Part 2: Setting Goals for your Marketing Funnel
Part 3: Bringing Visitors through your Marketing Funnels
Part 5: Turning your Marketing Funnels into Sales
Hi, this is Roger from Enfusen. In this video I want to talk a little bit about some different types of funnels (inbound marketing funnel types) that you can use in your business. It’s important to know that when you sit down to design a funnel that you know the ultimate goal of that funnel is. A lot of people look at it is ok I want to make a sale or want to do a webinar or I want to do a direct mail campaign or I want to do an event. You want to look at the purpose of the funnel as well.So there are four different primary purposes of a funnel that you can create; they are not all directly related to sales although they all play into successfully selling and delighting your customers. So here is what the four of those are.
The first one is Acquisition. The idea behind this is that we want to acquire new leads. We want to create new contacts. This can be done in a lot of different ways. We like to do our acquisition funnels through datamining which means we internalize all of the work. You can also do this through direct response – meaning that you are gonna go out and you are gonna drive traffic to your landing page with a specific offer in order to turn people into a lead. Typically in the acquisition phase, you are doing a loss leader or you are investing your money into creating those leads. A direct response campaign is really not an expense; it’s an investment in having those people for your funnel in the future.
The second type of funnel is an Activation funnel. That means – ok, now that we have gone through acquisition, let’s say we want to generate 1000 leads. We have acquired those 1000 leads, we’ve either done that through datamining, pay people to go out and do data research for us, pay scrubbing companies to scrub those to make sure that it’s accurate. Or we have done direct response facebook marketing to get 1000 people to register for an event or sign up for information for the event. Now we want to activate those. Now the thing with activation is – this can be done in a couple of different ways. In direct response marketing specially inbound marketing, an activation funnel can be a tripwire or like a 7 dollar offer. Something that gets the person to stand up and say – hey you know what, I am serious, I belong here, I want to participate in a conversation with you or wanna do business with you. So a 7 dollar tripwire offer might be good in the inbound marketing space. If you are marketing events, the activation might be the seat deposit or buying the ticket to the event.
Notice that monetization also has to do with money as well as activation. This is a low barrier to entry item that gets them to commit. So say that we have 1000 people, we want to activate 100 of them. For us in a marketing funnel, activation could be something as simple as getting them to request a strategy session or an assessment. So we will ask them to commit to something that will later allow us to monetize. Now we want to monetize these individuals. We want to sell them something of significant value. Notice that the tripwire might be of lower value, monetization will be something of a significant value. So for us, we might sell them on our productivity software. So I am gonna bring this down to go with monetize 10 individuals here, they would each pay us 15-30 thousand dollars for the year to use our productivity software.
Now that they have gone through – we have acquired them as a contact, we have activated them from an interest standpoint, we have monetized them into our product funnel and now we want to do an indoctrination funnel. So of course all of these people are gonna go through the indoctrination. So this is setting up the funnel that builds our relationship with them, that communicates with them and nurtures them throughout their process of using your product or service. It’s not just about selling them and then turning it over to an account Rep and hoping that the relationship is solid and that everything goes the way that it is supposed to. The big part of that is making sure that your automated funnel that’s gonna introduce some to the basic concept of what you are doing. So when somebody comes into our productivity software, for the first 30 days they are going to get an email every business day, telling them what they should be working on today and showing them how to better utilize our software. You need to have this in your business too.
So when you are sitting down now to design your funnel and you are thinking about all the other videos that we have done that have walked you through setting up an enterprise funnel, how to do an inbound marketing, now with different types of funnel, write at the top of your funnel what your goal is for this part of the funnel. Are you doing an acquisition funnel? Are you mapping out the entire process to get somebody from a stranger to a visitor to a lead? Are you looking at an activation? This could be visitor to a lead, it could be lead to tripwire. Monetization. Now that they have become a qualified lead, what are you going to do to turn them into a buyer and then once they have bought what are you going to do to indoctrinate them into your product or service so that you have a successful relationship with them.
As always the comment section is right below. If you have any questions about this or need any feedback or you would like an assessment on your marketing go ahead and send us over your information and we will be happy to get in contact with you. I am Roger from Enfusen and these are the four different types of funnels (4 Inbound Marketing Funnel Types) that you can set up.
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