Pipeline Marketing
What is Pipeline Marketing?
Pipeline Marketing is a strategy to help you convert your leads into customers. It combines sales and marketing data to help in converting leads into customers rather than generating leads. Pipeline marketing helps entrepreneurs design a cost-effective and efficient sales process. It is more accurately defined as redirecting your marketing and sales efforts to focus exactly where they matter. You focus solely on the narrower end of the funnel rather than the top. This is, however, not similar to smarketing because smarketing involves lead generation, nurturing, and conversion into a customer. Pipeline marketing, on the other hand, is focused only on converting leads and prospects into customers.
How is Pipeline Marketing different from Lead Generation?
Lead generation is focused only on the top-of-the-funnel (TOFU) while Sales Pipeline Marketing deals with bottom-of-the-funnel (BOFU). However, the difference here is, lead generation has nothing to do with the rest of the funnel. Pipeline marketing, on the other hand, takes into consideration the entire process from TOFU to BOFU in order to catalyze customer conversion.
Pipeline Marketing and Buyer's Journey
Pipeline marketing stages are directly related to the buyer’s journey as well. The buyer’s journey comprises of three essential stages: Awareness, Consideration, Decision. The fourth step comes after pipeline marketing is over i.e. after a lead is converted into a customer. It is the retention stage.
Pipeline Marketing
- Pipeline marketing is more of an individualized approach.
- Pipeline marketing is focused on the bottom part of the funnel. It is tailored to convert the interested leads into customers.
- Pipeline marketing is selling to a specific company or a person.
Traditional Marketing
- Traditional marketing works on a larger scale.
- Traditional marketers work at a larger scale & rely on marketing automation to help them move the prospects down the funnel.
- Traditional marketing is selling to a lot of people at once.
Pipeline Marketing - Best practices to implement
Generating leads is a tedious task, and more challenges come in when these leads need to be measured and pushed down the funnel for the sales team to take lead. In the modern marketing funnel, sales people come in at the end, all informed about the buyer’s intent. Hence, the actual challenge is to move from lead generation to pipeline marketing. Below are the four important practices to effective pipeline marketing.
Follow up with your prospects
Make sure to follow up with your prospects automatically. Set reminders and alerts so that you do not miss out. Build effective sales pipeline templates.
Work with 'Best' leads
Take a closer look at your sales prospects and work only with those leads that have the highest chance of converting, since each deal takes same amount of time to get closed.
Monitor key metrics
Monitor key sales metrics like the number of deals in your pipeline, the average size of deals, the average percentage of deals that you closed, and, the average lifetime of a deal before the deal gets closed.
Review and improve your pipeline
Make sure you review your sales process regularly and work around to improve your sales techniques. This keeps your pipeline strategy up to the mark, and highly optimized.
Lead Generation Strategies
Lead generation covers a wide range of marketing tactics, online campaigns, and strategies depending on the platforms for capturing the potential leads.
Use the right lead gen tool
Implement the right kind of lead generation tool that lets you build lead magnets, attract lead information, store them, and follow up them with proper nurturing personalized automation campaigns.
Create amazing offers
Your visitors will give out information only in exchange for an offer that is too good to resist. It can be an eBook, or a ready-to-use template, or probably an offer on your pricing plans.
Look out for visitor tracking
Your visitors may not want to give out information in the first go. Enable visitor tracking pixel to show hyper-targeted ads and customized messages to convert them into leads.
Implement progressive profiling
Visitor wouldn’t want to fill up long forms on their first interaction with your brand. Implement progressive profiling to collect visitor information and convert them into leads naturally gradually.
Maintain consistency in content
Create a seamless transition from your ad copy to the design you deliver in exchange for their information. Your message must be consistent and should align with your business values and image.
Create a dedicated landing page
Your CTA must redirect your visitors to a landing page that enhances the message they saw on the ad. CTAs are supposed to send your visitors to exactly where they will get the offer or asset you promised them in the ad.
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