- Dynamic Segmentation – This strategy centers around targeting prospects by what matters to Segmentation is a terrific way to make your email messages personal and relevant to your unique audiences, boost prospect engagement, and increase conversion.
Within your MA platform, you can create tightly targeted list segments. For example, you can: Combine profile attributes (title, department), with observed behaviors (followed a link, visited a web page, attended a webinar), and a specified time frame (1 day, 1 week). If you discover you have a CXO with buying power, interested enough to attend two webinars, and engaged enough to click on three messages within a week, that’s a very warm lead, and it’s probably time to send this person a special incentive to buy now.
- Lead Scoring – Since all leads are not created equal– and they mature dynamically, at different rates – savvy marketers use lead scoring to rank and determine when prospects are sales-ready. Your MA platform’s lead-scoring system watches for online and offline buying signals, monitors interest levels and allows marketing to identify the hot leads and route them off for to sales to convert to buyers.
Lead scoring uses a points system that you will determine along with your clients. Once you assign values (e.g., the person’s industry and job title, website visits, content downloads, event attendance, form completions, etc.), points accrue over a set amount of time. The sum of these points is the lead score. By monitoring lead scores, you’re increasing your ability to focus time and effort on the most likely buyers on behalf of your clients.
BOTTOM OF THE FUNNEL (BoFu) – CONVERT AND EXPAND
Congratulations! You’ve attracted potential buyers, captured their information, nurtured them, and now you have some warm and toasty leads who are getting ready to buy. As you approach the BoFu, your main objectives are to position your client’s brand as superior to competitors, accelerate the deal cycle, and inspire confidence in their decision to buy.
Once you’ve routed them to sales, it’s up to them to convert them to customers, but that’s not the end of the buyer’s journey. You’ll follow up after the sale to continue to foster the relationship to expand it, turn them into repeat customers and inspire them to become brand advocates.
- Convert – This stage in the bottom portion of the funnel is all about sales turning the qualified leads you’ve generated into customers. In addition to their CRM, sales people can also use marketing automation-related features including reports, sales templates, website visitor alerts, and more to help them strike when the opportunity is optimal for each prospect and convert them to buyers.
- Expand – This final stage at the very bottom of marketing funnel. Increasing the value and loyalty of customers is often overlooked by both sales and marketing, and that can be a costly oversight. Your agency can turn new customers into satisfied customers who stay, and share their positive feelings with friends, business connections and the masses.
Strategies for this phase can include:
- Loyalty Programs – Customer loyalty is hugely important. According to any number of research reports, it’s easier and far less expensive to sell to existing customers than land new ones. In Emmet Murphy’s management leadership book, “Leading on the Edge of Chaos”:
- Acquiring new customers can cost as much as five times more than satisfying and retaining current customers
- A 2% increase in customer retention has the same effect as decreasing costs by 10%
- Depending on the industry, reducing your customer defection rate by 5% can increase your profitability by 25 to 125%
Obviously repeat business helps the company’s bottom line, but it also translates to new opportunities when those satisfied customers advocate on your and your clients’ behalf.
- Product & Service Updates – Technology changes rapidly, and that means the products and services your clients offer their customers may change as well. If things change too much and you’re not helping your clients tell their buyers about those changes, you’re risking leaving some of them behind at renewal time.
When you proactively reach out to customers to educate them about how to get the greatest value to achieve success, they’ll feel valued and good about the customer service they’re getting. Additionally, by educating people up front, you can help tech teams avoid being inundated by calls about new features.
Providing these updates to customers is a critical stage in any marketing program. Make sure you keep your and your clients’ customers informed. In particular, if you upgrade or change technologies and it will affect them, make sure they have the knowledge and support to make it easy. By helping to make the adoption of changes a smooth process, you’re being proactive on behalf of buyers and they’ll love you for it.
- Special Deals and Upsells – By offering existing customers price breaks on new products, features or services, you’re continuing to please them and, more importantly, you’re growing the lifetime customer value for your clients. And these are the customers who will be major contributors to the long-term growth of your and your clients’ businesses.
- Content – To increase customer intelligence and satisfaction after the purchase, start sending them content to validate the value of their purchase. You want the content to be closely aligned with the product or services they bought, challenge assumptions, and, of course, to be driven by the data you’re collecting as you continue to use marketing automation to engage and measure their responses and actions throughout the entire customer journey.
Measuring and reporting ROI is now high on the priority list for your agency and for each of your marketing clients. When your agency works the entire funnel on their behalf, it’s guaranteed to help them align with sales, boost their numbers, and fatten up everyone’s bottom line.