If you use the marketing funnel, there are some tweaks to the process you can make to yield better results. You'll see this in your ability to track key metrics, as well as growth in terms of lead generation and converting leads to paying customers. Here are a few best practices to tweak your marketing funnel to deliver high-powered results quickly.
Use Care When You Define the Stages of the Buying Process
Defining the stages of the buying process (aka, where your customers are in the funnel) needs to be extremely specific. How you define a buyer gives you better access to key information that can help you further refine your marketing strategies. For example, are you defining sales stages or buyer stages? If you are defining sales stages, the focus in the notes will be on what your team did, not what the buyer is up to. By shifting your definitions to a buyer stage, the focus lies on where the buyer is in the process. Use care when establishing these definitions so that the data you deliver is on point in terms of what you actually need to know.
Use Proper Coding When Notating a Lead and Customer Process
What information does your team notate into your CRM software as customers progress through your marketing funnel? It's important to record what stage the buyer is in, where that lead came from, and which campaign delivered that lead. Use detailed, accurate coding methods to track all the way through the process, so that at the end of a campaign you'll know exactly where leads were (or weren't) generated and what factors pushed a buyer through the stages of the funnel. This is a goldmine of data for developing future campaigns.
Identify Your Customers According to Quality
What does your average customer look like? How does this differ from the profile of your best customer? Have you identified undesirable customers, the ones you'd rather not worry with in the future? Rank your customers and instead of developing a customer profile only for your ideal targets, define what the average and poor-quality customer looks like, as well. Where do they find you? Should you shift marketing efforts to steer clear of trouble? Could you cut back on advertising to the average customer and spend that money better where your best customers shop and read your content? The data will tell you where to go and what to do, so long as you're collecting and tracking the data you need to.
Run Metrics More Often When Changes are Made
Generally, running reports on key metrics is done once per month, and for business as usual, that will suffice. But when you make changes to what metrics you're tracking or the marketing funnel or campaigns, you'll want to get a clear, immediate picture of how the changes are working out. Run the numbers once weekly until you get a handle on how the changes or tweaks are playing out in reality. Sometimes real world situations don't go exactly as they were drawn up in the war room.
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