Increasing ROI With Marketing and Sales Funnels

2022-05-18 by EPR Staff

Creating a marketing and a sales funnel is simply a plan that ‘s going to show companies how their customers are interacting with their businesses from the first time that they encounter that business to the point where they convert. This plan is supposed to detail the buying journey that potential customers take to finally convert and detail every promotional effort that the company should take at each touchpoint in the sales funnel. Generally, the reasons that companies make purchasing decisions tend to be different from the way that individuals make the same decisions. Companies tend to spend a lot more money, have more stakeholders, and take more time to make those purchasing decisions, which makes their buying journey a lot more complex. That’s why it’s very important for companies to invest in marketing and sales funnels and ensure they’re completely optimized.

Marketing funnel

There are plenty of benefits to companies having their own marketing funnels, with one of them being the fact that the buying journey for customers in the B2B industry is a lot more complicated which means it needs more oversight. With a marketing funnel companies can coordinate all of their promotional efforts across different departments, figure out any inefficiencies and optimize their promotional campaigns. Additionally, given how much value today’s customers place on experience, companies have to invest in optimizing the customer experience, while also increasing the efficiency of their marketing tools and automating various steps in the process. However, one of the biggest benefits that companies get from creating a marketing funnel is that they have a plan with specific strategies and steps they need to take to move a potential customer towards making a purchase.

Sales funnel

With a sales funnel companies get a visual representation of how the business is capturing leads and moving them through the sales funnel. While the marketing funnel is created to develop touchpoints that are going to guide the potential customers throughout their buying journey, the sales funnel is focused on all of the actions that motivate the potential customer to convert. To get the best results, companies should have both a marketing, as well as a sales funnel, and have both of them working together. The reason why companies need to have their own sales funnel is that the typical buying journey for customers in the B2B industry includes up to 10 different decision-makers that have their own interests.

Companies have to bring all of those decision-makers together, sharing the same mindset and goals, to finally get that customer, which, in the B2B industry is a business, to convert and make a purchase. It’s not easy for companies to do that without having a plan, and with a sales funnel plan companies will better understand all of the actions they have to take to convert those leads.