Focused on results? Focus on the bottom of the funnel.
At Boomm, we are thinking a lot about a recent BusinessWeek article by marketing guru Seth Godin, called “The unforgiving arithmetic of the funnel.”
In it, he says you’re “lucky” if 1% of your target audience responds to your DM/ad/website/etc. Many marketers make the mistake in throwing more resources toward the top of the funnel, to attract an even bigger audience. After all, 1% of a trillion is better than 1% of 10 million…right?
But it’s not. Godin says it’s far more effective to concentrate lower down in the funnel–on that 1% who showed interest, if only for a minute or two. We agree.
Lead nurturing or drip marketing campaigns can keep that small percentage of highly interested prospects engaged with your brand – and moving down the path to purchase. Social media can create new opportunities for dialog with these potential customers.
Godin recommends tracking where and why you’re losing interest, then adjusting your communications to elicit the behaviors – clicks, download, conversions – that you want.