What is an Enterprise Inbound Marketing Funnel?
Video Series: Part 1
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Enterprise Inbound Marketing Funnel Video Transcript
Hey everyone, this is Roger from Enfusen. Today I want to go over the Lead Stages of an Enterprise Inbound Marketing Funnel. It is important to understand these as we get more in-depth on our training on how to put together a high converting lead to revenue funnel. So I want to go over each of these elements with you really quick and then down below in the comment sections, if you have any questions you can go ahead and ask me. I will be happy to help you out with that.
So the first stage in which somebody comes into your enterprise inbound marketing funnel is when they are a contact or a lead. Now they can come in from multiple different ways. You can datamine them and put them on your list yourself; they can come in through a lead magnet which can come through all kinds of different traffic sources – SEO, Paperclick, Social Media, Direct Response, Press Releases. All those different types of things can bring people into your enterprise inbound marketing funnel. In later videos we can gonna talk about how to create more leads which is of course the lead to revenue model. But for today you just need to understand the first time that they enter into your funnel then become a lead. Usually what that is – it’s a name, it’s an email address, sometime it’s a phone number, it’s an address. If you are datamining or you are list scrubbing it might be a whole lot of data such as interest based information that you can get from multiple sources. Once they becomes a lead, your objective is to start moving them through this process continually qualifying them so that your marketing team can turn them over to your sales team.
The next stage is a Marketing Qualified Lead. What this means is that they expressed interest. So we do a lot of datamining. That means we go out and we dig you out who you are in business with; we put them into our database, then we start to nurture a relationship with them. For them to become a marketing qualified lead, they have to raise their hand and participate in the conversation. Typically what this is – this is a great opportunity for a lead magnet. So this could be a white paper, a case study, a how-to guide, an e-book, a lot of different things – an assessment, a strategy session. Basically in the marketing qualified lead, we are gonna ask for at least two pieces of information. We want an interest based and a qualification based. So depending on what your business is, for us this could be – Hey do you work with Sales and Marketing automation or you are interested in working with that. Qualification is – Do you have at least one person on your team that does marketing for you or create content? Those are the two types of questions that we need to ask because if you are not interested in marketing your sales automation and you don’t have someone on your team who does marketing for you, then you really never gonna be able to be a potential client of ours. We want to make sure that we know that. We want to let everyone in at the top of our funnel and as we start to move down, we are gonna start to lower the number of people that we allow through.
Now the next question comes down to the next stage Sales Accepted Lead. So marketing qualified means – yeah, you belong in our enterprise inbound marketing funnel, we want to nurture our relationship with you so that we can eventually do business together. A sales accepted lead is – we want to know a little bit more about you and then we want you to express interest in talking to our sales team. We don’t want to just cold-call you, nobody want to be cold-called by a company that they don’t know for a product or service, they have no idea it even exists. So now that we are gonna to introduce our brand, our product, our mission to you, now we want to see if you are interested in talking to us. A sales accepted lead usually for us means you have requested a strategy session or an assessment. There are two different ways that you can come here – the strategy session for us is – hey we have captured another set of interest and qualification questions here. You’ve raised your hand and said – Hey please give me a call so that we can talk about my problems and how you can help me solve those. An assessment is along the same lines but it’s really – Hey I don’t know what I don’t know. I would like you to review our enterprise inbound marketing funnel for us so that you can give us an idea of where we can improve and how you might be able to help. They are a little bit different but both of these are an opportunity for the individual contact to raise their hand and say – Hey I am ready to talk to you now. I am ready for you to market to me, I am ready to talk to you.
Now when people request a strategy session or assessment that still does not necessarily mean that they are an ideal client. So as part of that, there is another interest based and qualification based question. You never want to overwhelm your sales team with bad leads. When a sales team gets a lead, you want to know that they are marketing qualified, you want to know they are sales interested, and you want to know that they are sales qualified. And this really comes down to BANT – Budget Authority Need and Timing. Do they have the budget for what it is that you sell, are you talking to the right person, do they have the authority to buy, have they expressed through your previous conversations or conversations that you are going to have that they have a need, and is the timing right for them? When you’re dealing with enterprise organizations, you are going to deal a lot with fiscal budgets. So if you are talking to somebody in April and their fiscal budget was January, it might take a whole year before they can allocate resources to your project. So you want to make sure that the timing is right.
Now as you fork to your way down, you have qualified them as the marketing lead and the sales lead, they have said that their interested in talking to you from a sales prospective. Now they become a Opportunity. This is where you are dealing, you have already talking to them at least once on the phone, maybe even twice – once for a discovery call, once for a strategy session or assessment. Now down here, you are into Demos. You are showing them your pain-solving solution. Again we are talking about enterprise level funnels. This is an opportunity to close –Glen Gary Glen Ross ABC – Always Be Closing. This is when your opportunity is there to monetize this relationship. And then from there into Contract the solution and close the deal. These elements are going to be important because then we put the whole funnel together and we outline how do we get more contacts and how to move contacts down into the revenue streams faster. You need to understand the basic terminology of an enterprise inbound marketing funnel.
So I am Roger from Enfusen, this is a quick tutorial on the different elements of an enterprise level funnel with the acronyms, the definitions and the pieces of information that you gather. Again if you have any questions about this, use the contact form down below or the feedback loop. Give us some information or give us your questions and we will be happy to help you out. Thank You.