What is a lead funnel and how do you evaluate it?
Businesses must have a process to evaluate the effectiveness of their marketing efforts. At Frederick Mountain Group (FMG), we measure our success by your success. If you are not making more money from our efforts, we continue to refine until we have the right messages, connecting with the right customers, at the right time.
We use tools like Google Analytics, Google Search Console, Facebook Business Manager Analytics, Diib.com, Hubspot, and Cyfe.com to monitor your marketing 24/7.
We know how to measure what we are doing for your business. Our customers still often ask, ““How do I know the sales I am getting are coming from your work? Couldn’t they just be new customers?” They want to see a nice, linear “lead funnel.”
“Lead funnel” is a fancy term for drumming up potential customers for a business. As the shopping experience shifts to being more and more online, the term “lead funnel” has become a term marketing companies use to sell their services to you. They promise they will build a complete lead funnel and grow your business.
And, they will . . . sort of. Marketing companies most often mean that they will buy ads (Facebook Business Manager or Google Ads) and will track, like a bloodhound, the potential customer from the minute they click, until they buy something. But this view of “funnels” is actually incredibly limiting for you and for your marketing agency. What if that person sees the ad, then calls or emails to purchase a week later? That still counts as a conversion!
In Defense of the Leaky Funnel
Our 360-Degree Marketing program is a funnel breaker. It is designed to convey messages across all relevant marketing channels, i.e. wherever your customer consumes information. We believe messages are more likely to connect with customers when they see the message repeatedly across a variety of channels. What that means in practical terms is we produce A LOT of marketing content for A LOT of businesses every 30 days. We write blogs, we write social media posts, we write emails, we create print flyers, and of course we run digital ads.
We know “lead funnels” and we build “lead funnels.” But we pride ourselves on our leaky “lead funnels.” It is common for a customer to see a flyer or get an email, consider it for a few days, and then call or walk into an office/shop. Yes, sometimes we can see customers seeing an email or an ad and then clicking the button to call or buy a product or service. But, most customers need time. They need time to think about making a major purchase, or hiring a service provider. Our 360-Degree Marketing program is designed to connect with customers automatically and on a regular basis. We do not replace a salesperson, but we are an affordable way to keep your product or service on the top of your customers mind.
How do you count the return on investment (ROI) of a leaky funnel?
So when our clients say, “Well how do I know that this customer came from your efforts? They might have come in on their own.” Here is our answer:
Establish a baseline before working with us. What are your growth goals? How much is that worth to you? How much do you average a month, during a low month, during a high month? Our clients have clear goals and they measure our work based on the overall growth. Are there more phone calls, emails, or increased foot traffic? Is your net revenue going up? We want to provide customers with a x2 return for every dollar they spend with our firm.
FMG is a business development consulting firm. What that means is that we help businesses build strategies to grow quickly and we also help implement those strategies across sales, marketing, and people management. If you’re looking to grow your business, contact Frederick Mountain Group today at 307-543-5084 or https://www.frederickmtngroup.com/contact-3 for a free consultation.