15 Facts to Know About Bottom of the Funnel Marketing
May 4, 2016 | Kaleigh Moore
As a lead moves closer and closer to becoming a customer, marketers need to know how to increase the likelihood that the conversion actually happens. That means putting the bottom of the funnel under a microscope to not only understand some of the common pitfalls, but to also know what the appropriate steps are that they need to take next.
A good way to approach this is to think about the bottom of the funnel from the customer’s point of view. Ask yourself: Low in the funnel, what are the final obstacles you need to overcome in order for the final conversion to happen? Are there remaining questions that need answered? Does the customer need a free trial that lets them test drive the product? Do they need a step by step ROI calculation they can show to their internal team members? Considering this viewpoint, you can start addressing these questions and more effectively drive sales.
To help understand this perspective more, we’ve gathered 15 facts about bottom of the funnel marketing that will help you optimize your process for converting leads into customers.
Facts About the Bottom of the Funnel Marketing
1. 79% of marketing leads never convert into sales. Lack of lead nurturing is the common cause of this poor performance. – MarketingSherpa
2. 61% of B2B marketers send all leads directly to Sales; however, only 27% of those leads will be qualified. – MarketingSherpa
3. Effective sales funnels generate 50% more bottom of the funnel leads at 33% lower cost. – Forrester
4. Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate. – CSO Insights
5. For 43% of B2Bs, the time it takes to go from attraction to conversion has increased–in some cases it has increased by as much as 22%. – Alinean
6. Nearly 3 in 5 bottom of the funnel leads do nothing, because it’s easier than making a decision. – McKinsey
7. Only 25% of leads are legitimate and should advance to sales. – Gleanster Research
8. One of the most effective ways to convince leads that they’re ready to start a free trial or to see a demo is to provide relevant case studies. – Bizible
9. Interactive content has been found to convert 2x better than static content. – DemandMetric
10. Effective automated email sequences can help move leads to the bottom of the funnel where they can become customers. – Hubspot
11. When leads are ready, sales optimization should focus on efficient lead management programs that update fields, create tasks, assign owners, and convert leads directly into sales management systems. – Marketo
12. Bottom of the funnel retargeting is all about determining what actions indicate where the customer is in their buying process, and then matching it with the right messaging and content. – Bizible
13. Help bottom of the funnel leads convert with out-of-the-box strategic offers (like partner or reseller programs, co-branding or white labeling) and invitations to join your special in-house events. – B2C
14. Automation is essential: If you wait more than 30 minutes, then your lead is 21x less likely to turn into a sale. – InfusionSoft
15. Many companies miss out on converting bottom of the funnel leads because they simply don’t follow up. – Infusionsoft
Leads at the bottom of the funnel have a very specific set of needs, wants, and desires that need to be met to drive up conversions. Let’s review some of the larger concepts we can glean from these facts, such as:
Bottom of the funnel marketing needs to happen quickly. Because customers often go with the provider that most quickly responds to their needs and questions, automation is becoming increasingly important within the overall marketing technology stack. Automated emails are a simple solution that create an immediate response for leads who are finally ready to convert.
Provide reasons to convert, and make it simple. Rather than overwhelming bottom of the funnel leads with many different options on how to move forward, remember to present a single, clear path for action: whether it’s to see a demo, to make a purchase, or to start a free trial.
Personalization is essential. Your lead funnel should help you determine where your buyer is at in the process and what he or she needs to hear next. From here, you can present a customized solution with the right message at the right time.
With these facts and statistics, you can take a hard look at your process for bottom of the funnel leads and make sure you’re encouraging conversion to the best of your ability. Look for areas of improvement, and implement processes and technology that boost speed and quality for potential customers.