For a long time, B2B marketers have primarily focused on generating as many leads as possible. This lead-based approach is predicated on a priority-based sales and marketing model that treats all leads as just another business to nurture through the buyer’s journey. However, a new approach called #FlipMyFunnel has quickly taken the B2B marketing industry by storm.
The Innovative Procedure that’s Shaping B2B Marketing
What is #FlipMyFunnel?
#FlipMyFunnel is a new, account-based marketing strategy that prioritizes your company’s best-fit customers over basic lead-generation. Purveyors of this new approach find that businesses are more successful when their customers are in-line with their goals and company culture.
They feel that B2B marketing strategies often take their customers for granted, treating them more like numbers and statistics rather than actual institutions. Instead of awareness, consideration and decision stages, the #FlipMyFunnel model is based on:
- Identity
- Expand
- Engage
- Advocate
This method aims to focus efforts on companies that are conducive to revenue-generation. The B2B marketing industry has become more customer-centric. #FlipMyFunnel is the new tactic that businesses can use to assist them with lead and customer cultivation, but it starts with a few steps.
1. Identity
Since #FlipMyFunnel is founded on the idea that companies should only target best-fit customers, you should start by conducting ample research of your company, its current clients and where you’ve found the most success.
Ideal Customer Profile
After you’ve learned what’s been most profitable, formulate an ideal customer profile (ICP) with a combination of attributes from your most cost-effective customers and accounts.
There are even internet tools like LinkedIn Navigator and RingLead that can help process data and leads in a timely manner. It’ll become easier to determine which leads will be more lucrative, which can end up saving you dividends in time and money.
2. Expand
Once you’ve narrowed it down to a certain industry or company size, you need to update your ideal customer profile with job descriptions, motivations, responsibilities and characteristics of the businesses you’re best-fit to work with.
Use buyer personas to inform how you fill out these fields. After you’ve completely fleshed out your ideal customer, you can zero in on leads that fit the bill.
3. Engage
At this point, you’ll need to market your company to your new, informed target audience. This is where content marketing comes into play. You will need to engage your prospects with enticing content.
You can do this by utilizing:
4. Advocate
There’s a prevailing notion in business that 20 percent of your customers generate 80 percent of your revenue. It’s time to start treating high-priority customers accordingly. Try to turn them into strong advocates for your company by nurturing your relationships with open communication and dialogue.
Having a fan base of existing clients is sometimes more cost-effective than allocating funds in finding new customers. Many businesses don’t even have a budget to spend on existing customers.
Customer advocates are an extremely effective form of organic marketing. If they rave and rant about the success they found with your company, similar businesses may take notice and become a potential sale.
#FlipMyFunnel is quickly becoming an savvy way for companies to realign their marketing efforts. By implementing it into your business, you may be able to see exponential growth and sales.
