How to Build a Lead Generation Funnel?

Let’s discuss how to build a lead-generation funnel for optimum business growth. According to the belief of 91% of marketers, lead generation is their first goal to grab the market. Here, the lead generation funnel provides an experience to convert the leads into successful customers. 

There are four stages of the lead funnel that a customer needs to go through. Without understanding that management funnel, it is impossible to overcome the common lead generation challenges. That’s why we will dive deep into the working process of lead generation.

Key Takeaways:

• Introduction to the lead generation funnel and its importance.
• Best strategies for making lead generation funnel for businesses.
• Tools and techniques effective for qualified lead gen funnel.

What is a Lead Generation Funnel?

The lead generation funnel comprises the journey to a successful lead. It is a systematic process to bring potential leads and transform them into qualified leads. You will find three main lead funnel stages, which are: awareness, consideration, and conversion. 

Sender’s statistics on lead generation pointed out that 53% of marketers allocate most of their budget to lead generation. So, their expense won’t be worth it if they do not rely on the right lead generation funnel. 

Lead Generation Funnel Stages

Earlier said, the lead generation funnel has three major stages, which are awareness, consideration, and conversion. But in reality, we have five stages in total. 

1. Awareness: Capture attention with a lead magnet.
2. Interest: Demonstrate value and build brand interest.
3. Appraisal/Desire: Focus on a specific product or service that offers a benefit.
4. Action/Confirmation: Convince the prospect to purchase.
5. Conversion: Close the deal and make the sale.

“The stages of lead generation funnel align with the top-of-funnel (TOFU), mid-funnel (MOFU), and bottom-of-funnel (BOFU) stages of the funnel.”

How the Lead Generation Stage Works?

• A potential customer discovers your business through your online presence
• The customer shows interest by clicking on a call to action.
• The customer provides their contact information in exchange for a valuable offer, such as a discount.

Why is a Lead Generation Funnel Important for Your Business?

Our parent company had worked on lead generation for real estate, solar, and even the tannery industry in their digital marketing work. With thorough research, we understood how the client’s company requires the exact statistics, positioning, and frequency of buyers’ data. 

That proves lead funnel is essential for businesses of all sizes because it provides a structured approach to attract, nurture, and convert leads into customers. Here are all the reasons the lead generation funnel is important for—

• Targeted Marketing: Generating targeted leads is the foundation of identifying an ideal customer profile. Therefore, a well-designed funnel helps you focus your marketing efforts on targeted individuals who are most likely to become customers.  
• Improved Conversion Rates: A healthy funnel helps you identify potential barriers to conversion. With it, you can provide valuable content and shake leads at each stage of the journey. You can increase the likelihood of them by making a purchase.   
• Enhanced Customer Relationships: Your funnel could adopt a more personalized and engaging customer experience. You can build trust and loyalty, when you provide relevant information and address the questions by the customers during lead conversion. 
• Data-Driven Insights: Consider a lead generation funnel as a calculator to measure the effectiveness of your marketing efforts. Just analyze data on lead generation, conversion rates, and customer behavior to identify improvement areas and optimize your campaigns.   
• Scalability: A well-structured funnel can be scaled to accommodate growth. As your business spreads, you can adjust your funnel to attract more leads and increase revenue.

How to Build a Lead Generation Funnel?

Follow five steps to build a lead generation funnel. As you know, the funnel is a journey to the conversion; you have to apply the engaging map and methods for the customer’s convenience. After following the sales pipeline, you will be able to decide on the marketing sales spots.

Step 1: Draw the Map of a Good Customer Journey

To create a successful customer journey at first. Meaning, you have to map out the steps customers take from awareness to purchase. Divide the journey into three stages. Later, identify key activities within each. Use surveys and interviews to gather customer insights and uncover common touchpoints. You can use this data to meet customer needs at each stage.

Step 2: Select the Best Methods to Grab Attention

Use your customer journey map to determine the most effective channels to reach potential customers. If they frequently use review sites, focus on improving your presence there. Experiment with different channels like social media to identify the most successful ones. Overall, test and measure performance before investing heavily in any channel to maximize results.

Step 3: Make a Design for Your Offerings

To generate leads, offer something valuable in exchange for contact information. Retail brands often use discounts, while B2B companies offer content like ebooks. The offer and call-to-action should be compelling. For example, Foundr magazine offers an ebook that shows how to get 10,000 Instagram followers.

Step 4: Follow a Sales Pipeline for Lead Management

To effectively manage leads, implement a consistent sales process from initial contact to closing. Define the stages and create corresponding pipeline stages in your CRM or sales engagement platform. The stages are—

• Lead generation
• Prospecting
• Needs analysis
• Demo
• Negotiation
• Close

Integrate your lead generation tool with your CRM to ensure new leads are automatically added to the sales pipeline. For example, connect Pipedrive (CRM) with Leadfeeder (lead generation) to streamline the process.

Step 5: Deciding the Marketing to Sales Spots

Clearly define the point where marketing and sales responsibilities overlap. Traditional models may separate these roles, but modern approaches involve collaboration at every stage. Collaborated marketing can support sales through content marketing and social selling, while sales can contribute to lead generation.

All things combined, you can ensure a smooth transition by sharing relevant data and ensuring both teams understand their roles and responsibilities. Doing this, you can optimize lead nurturing and increase conversion rates.

How to Build a Lead Generation Funnel for Your Business?

There are inbound, and outbound lead generation techniques for business. But we won’t go that much deeper today. We always tell you to make valuable content to convert high-quality affiliates for your business.

First, we recommend you identify the ideal affiliates. For this, you can create a comprehensive blog post ranking top affiliate programs, including ours, to attract potential affiliates. The content-based lead magnet generated significant traffic and conversions. 

To further engage leads, we suggest you set up a multi-step email marketing strategy. Use MailChimp or ConvertKit for that. Segmented subscribers based on their interests and sent tailored automated emails.

How to Monitor Your Lead Funnel’s Performance?

You need to track key metrics at each stage to monitor your lead funnel’s performance effectively. Here are some essential metrics to consider:

Top-of-Funnel (TOFU) Metrics

• Monitor the volume and standard of traffic to your website.
• Track the number of leads generated through various channels (e.g., website, social media, email).
• Measure the percentage of website visitors who become leads.

Mid-Funnel (MOFU) Metrics

• Calculate how leads interact with your content, knowing email open rates, click-through rates, etc.
• Predict the overall effectiveness of your lead nurturing campaigns.
• Track the conversion rate of marketing qualified leads (MQLs) to sales qualified leads (SQLs).

Bottom-of-Funnel (BOFU) Metrics

• Monitor the conversion rate of SQLs to closed-won deals.
• Calculate the cost of gaining a new customer.
• Predetermine the total revenue a customer will generate over their lifetime.
• Measure customer satisfaction through surveys and feedback.

Lead Generation Funnel for More Leads with LeadSpider

LeadSpider is our latest creation to find and monitor leads across industries. The benefits of using LeadSpider are unimaginable. Top-level business organizations have been using the software since we launched it.

How Lead Spider Works?

Lead Spider connects to the latest Google APIs to gather all the profile information. Using LeadSpider, any business with an entry on the business profile or maps will appear before you. You can search, filter, and create campaigns for successful lead generation. And the created lists will be beneficial for your lead funnel. 

LeadSpider Features

• Location Search: Find leads worldwide with a simple keyword and location search. Use the “Radius” option to pinpoint specific locations. Through this, generate more leads in your target market.
• Advanced Filtering: Filter search results by website, contact number, address, claims, reviews, ratings, and more. It efficiently finds the most relevant leads for your business. You can minimize manual tasks with advanced filtering.
• Real-time Data: Get instant access and receive leads as soon as they’re created. Contact leads promptly for better conversion chances. Gain a head start on competitors who may not use real-time lead generation.

• Friendly Interface: Intuitive interface for easy use, even without programming knowledge.
• Clear and Concise: LeadSpider is a smart option for concise workflow. You can start immediately without reading the extensive documentation. Just set up APIs using the tutorial.
• Save & Export: Save and export leads in various Excel, CSV, and PDF formats. In this way, use leads in different applications and platforms. After all, organize and manage leads effectively.
• Geo Mapping: With real-time data included, you can view the geographic location of leads on a map. This is required to identify areas with high potential for customer success. 
• Competitor Analysis: Analyze competitors’ business status from LeadSpider. Look up the web traffic and know competitor strengths and weaknesses to improve your business. Target campaigns based on competitors in the same niche.
• Mobile Friendly: Use LeadSpider from any device, including smartphones and tablets. It is helpful in staying connected with customers while on the go. 
• Multilingual Support: Find leads in any language now! Access multilingual lead information from the API. Use this and showcase your promise to serve clients across countries.

Building Lead Generation Funnel and Lead Magnet Funnel: The Differences

The differences between building a lead generation funnel and a lead magnet funnel are given below – 

Final Thoughts

Well, that was all about building a lead generation funnel. Lead generation funnels are essential for the success of the marketing department of any company. marketing success. You have to systematically identify and nurture potential customers so that your businesses can significantly increase conversions. Use advanced lead generation like LeadSpider and process it to a manageable funnel.

FAQs

What is the lead process funnel?

A lead process funnel is a marketing strategy that guides potential customers through the buying journey. It involves attracting, nurturing, and converting leads into paying customers.

Why is the funnel process a universal strategy?

A marketing funnel is the customer’s journey from awareness to loyalty. It helps visualize the buying process, dividing it into stages like awareness, consideration, decision, and loyalty. This concept has been used for over a century to understand and optimize marketing strategies.

What is the funnel technique?

In qualitative interviews, the funnel technique starts with broad questions and gradually narrows the focus. So you can allow your researchers to gather general information before diving into specific details. The system provides a more comprehensive understanding of the participant’s perspective.