Flipping the Funnel on Its Feet: A Bottom Up Approach to Digital Marketing
There’s a paradox at the heart of digital marketing. On the one hand spending is rising. New technologies make it easier and cheaper for marketers to reach their target audience. On the other hand, the effectiveness of marketing programs is shrinking and the cost of acquiring new customers keeps rising.
A common mistake marketers make is looking at their funnel upside down. By that I mean they first look to optimize the top of the funnel first, and only then do they focus on the middle and bottom part of the funnel. And it's understandable, since the top of the funnel is where most marketers spend their money. And it’s also the easiest problem for them to tackle. But does it make sense?
At LivePerson, we take a different approach to the traditional marketing funnel. We’re not suggesting it’s the end of the marketing funnel like our friends at Forrester. No, we’re suggesting marketers flip the funnel on its feet and adopt a bottom-up approach to Digital Marketing, particularly if they’re focused on acquiring new customers who year after year have been inundated by a deluge of mind-numbing marketing messages.
Our approach typically entails three phases:
- In the first phase, you target your prospects at the bottom of your funnel with personalized offers and live digital assistance
- In a second phase, you extract the "voice of the prospect" from these bottom of the funnel engagements (e.g. what offers visitors are responding to, or what they are saying in live chat conversations or email conversations with your sales teams)
- And finally in the last phase, you tie the data back to your top of the funnel marketing campaigns to improve your copy, your creative and your allocations
The result? More leads, more conversions and significantly lower acquisition costs.
To find out how one goes about doing this, particularly if your time or resources are limited, I invite you to attend our webinar Standing Out From the Crowd, Data-Driven Customer Acquisition Techniques for Digital Marketers on Thursday, October 3rd at 2pm ET and learn how you can transform your marketing by flipping the funnel on its feet. Here's a preview: