Funnel vision: How the purchasing funnel helps marketing think small
Rethinking the funnel - DMA 2014
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IGNITING CUSTOMER ENGAGEMENT Rethinking the Sales Funnel Jeff Perkins VP of Marketing and Inbound Sales PGi October 2014
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For many years, marketers have used the framework of the "sales funnel". But, in the today's business environment, the traditional sales funnel has become obsolete. Customer journeys are increasingly complex for marketers to understand and vary dramatically by industry, by company, by function and by individual. The traditional funnel is actually more like a cocktail shaker. The customer gets dumped in, swirls around in information for a period of time and then gets poured out. For marketers, this creates both challenges and opportunities that will be discussed during this session.
Transcript of Rethinking the funnel - DMA 2014
- 1. Rethinking the Sales FunnelJeff PerkinsVP of Marketing and Inbound SalesPGiOctober 2014
2. PGPi Gi 3. ABOUT MEPic of kids#DMA14 @jeffperkins8 4. @jeffperkins8www.linkedin.com/in/jeffperkins1www.slideshare.net/JeffPerkins1SingleMindedProposition.com#DMA14 @jeffperkins8 5. #DMA14 @jeffperkins8 6. WE LOVE ACKROYNMS!NPS LTVBOFU#DMA14 @jeffperkins8SEOPPCCPCCPACPMSALMQLCRMMOFUBRSQLTOFUTOFUCTA CLV KPIROIRTSLA 7. TRADITIONALSALES FUNNEL#DMA14 @jeffperkins8 8. #DMA14 @jeffperkins8 9. Source: 2009 J. D. Power & Associates Web Site Performance StudyThree monthsfrom purchase:2.3Five monthsfrom purchase:2.0During the monthof purchase:3.5How many cars do you considerwhile shopping?#DMA14 @jeffperkins8 10. #DMA14 @jeffperkins8 11. A Tale of 3 BuyersCustomer #2Entrepreneur starting anew business Visited PGi.com. Talked to a rep 12 timesover 3 months. Eventually did a trial. Signed up for 1 license.Customer #1VP of a mid sizecompany Signed up online for a freetrial. A week later downloadedan eBook. A week later called a repto sign up for 5 licenses.Customer #3Mid-level manager ofa small company Visited PGi.com. Did an online chat witha rep. Signed a 10 license dealthe same day.#DMA14 @jeffperkins8 12. Real buyers are not personas. They bring their ownstyle and sensibilities to the purchase process.#DMA14 @jeffperkins8 13. IS THE FUNNEL DEAD?#DMA14 @jeffperkins8 14. #DMA14 @jeffperkins8 15. You Want the Truth?Every customer journeyhas a beginning and anend.But what customers doduring the middle isoften complicated andunpredictable.#DMA14 @jeffperkins8 16. The Sales Cocktail Shaker#DMA14 @jeffperkins8 17. WHERE DO WE GO NOW?#DMA14 @jeffperkins8 18. 4 keys to success in the Cocktail Shaker1. Rethink your digital presence2. Engage online3. Enable a chose your own adventure journey foryour customers4. Be Responsive#DMA14 @jeffperkins8 19. 4 keys to success in the Cocktail Shaker1. Rethink your digital presence2. Engage online3. Enable a chose your own adventure journey foryour customers4. Be Responsive#DMA14 @jeffperkins8 20. THE GOOD OLD DAYS#DMA14 @jeffperkins8 21. Only 2% of cold calls result in an appointment(Source: Leap Job)3% of emails result in a click (Source: Mail Chimp)#DMA14 @jeffperkins8 22. YOUR CUSTOMERS JUST ARENT THAT INTO YOU#DMA14 @jeffperkins8 22 23. Your prospects are70% of the waythrough the salesprocess before theyengage a rep.#DMA14 @jeffperkins8 24. WHAT ARE THEY DOING70%OF THE TIME?#DMA14 @jeffperkins8 25. ONLINE RESEARCH#DMA14 @jeffperkins8Source: Google & Compete B2B Customer Study June 2013 26. MEET YOUR NEW SALES REP#DMA14 @jeffperkins8 27. 4 keys to success in the Cocktail Shaker1. Rethink your digital presence2. Engage online3. Enable a chose your own adventure journey foryour customers4. Be Responsive#DMA14 @jeffperkins8 28. #DMA14 @jeffperkins8 29. #DMA14 @jeffperkins8 30. 80% of your online visitors will watch avideo, while only 20% will actually readcontent in its entirety.People are 64% more likely to buy aproduct after watching a video.http://www.digitalsherpa.com/blog/25-amazing-video-marketing-statistics/#DMA14 @jeffperkins8 31. #DMA14 @jeffperkins8 32. #DMA14 @jeffperkins8 33. #DMA14 @jeffperkins8 34. #DMA14 @jeffperkins8 35. #DMA14 @jeffperkins8 36. Better Engagement. Better Results.Pages with video dive higher conversions#DMA14 @jeffperkins8 37. #DMA14 @jeffperkins8 38. A/B Testing to improve conversions#DMA14 @jeffperkins8 39. 4 keys to success in the Cocktail Shaker1. Rethink your digital presence2. Engage online3. Enable a chose your own adventure journey foryour customers4. Be Responsive#DMA14 @jeffperkins8 40. #DMA14 @jeffperkins8 41. #DMA14 @jeffperkins8 42. #DMA14 @jeffperkins8 43. #DMA14 @jeffperkins8 44. #DMA14 @jeffperkins8 45. #DMA14 @jeffperkins8 46. #DMA14 @jeffperkins8 47. #DMA14 @jeffperkins8 48. #DMA14 @jeffperkins8 49. 4 keys to success in the Cocktail Shaker1. Rethink your digital presence2. Engage online3. Enable a chose your own adventure journey foryour customers4. Be Responsive#DMA14 @jeffperkins8 50. If you follow up with web leads within 5 minutes,youre 9 times more likely to convert them.Source: InsideSales.com#DMA14 @jeffperkins8 51. 1. Rethink your digitalpresence2. Engage online3. Enable a chose yourown adventurejourney for yourcustomers4. Be Responsive#DMA14 @jeffperkins8 52. DMA SHOW [email protected]#DMA14 @jeffperkins8 53. THANK YOUJeff PerkinsVP of Marketing and Inbound SalesPGiOctober 2014
