2024 Strategies for Your B2B Sales and Marketing Funnel

In today’s landscape, it’s more crucial than ever for businesses to craft a digital marketing strategy that caters to all stages of the funnel. As we step into 2024, the competition for online visibility and customer engagement continues to intensify. It’s essential to implement key marketing activities tailored for the top of the funnel (TOFU), middle of the funnel (MOFU), and bottom of the funnel (BOFU). In this blog, we will explore the significance of each stage and discuss strategies to optimize your digital marketing efforts.

Understanding the Marketing Funnel

The marketing funnel represents the customer’s journey, from the initial stage of awareness to the final stage of conversion. It’s divided into three primary segments:

  1. Top of Funnel (TOFU)
  2. Middle of Funnel (MOFU)
  3. Bottom of Funnel (BOFU)

Top of Funnel (TOFU): At this stage, potential customers become aware of your brand and its offerings. They may not yet have a specific problem or need in mind. However, they are open to exploration.

Middle of Funnel (MOFU): In the MOFU, prospects have identified a problem or need and are considering different solutions. They are actively researching and comparing options.

Bottom of Funnel (BOFU): At the BOFU, prospects are ready to make a decision and convert. They have evaluated their options and are looking for that final nudge to seal the deal.

Each segment has key marketing activities needed for each stage of the funnel in 2024.

What influences buyers when making purchases?

Understanding what motivates and influences buyers is key. From white papers to social media, having information available when potential buyers are looking is necessary. First, this is where an outdated website can stop buyers in their tracks. And, neglected social media accounts make the brand look disconnected.

  • 79% of buyers said that their web search influenced their product selection process. The same number said that a business’s website’s content played a decisive role.
  • 50% of buyers said that social media influenced their product selection process.
  • 55% of buyers said that the white papers they downloaded influenced their product selection process.

Source: Demand Gen Report

Use this knowledge to start 2024 strong. Have the right digital marketing resources and strategies in place to meet your client where they are at. Gain more leads. Close more business.

Top of Funnel: Build Awareness

Top of Funnel Activities for Marketing and Sales

Content Marketing: At the top of the funnel (TOFU), content is king. Create informative and engaging content such as blog posts, infographics, and videos to address topics related to your industry or niche. This content shows you as a thought leader by providing key insights and your unique experience in your space. This is also a significant area to optimize your website, creating SEO opportunities.

Social Media Marketing: Leverage social media platforms such as Instagram, LinkedIn, and Facebook with potential customers. Focus on building a strong online presence and fostering a sense of community around your brand.

“Many companies have forgotten they sell to actual people. Humans care about the entire experience, not just the marketing or sales or service. To really win in the modern age, you must solve for humans.”

Dharmesh Shah, CTO & Co-Founder, HubSpot

Understanding that different platforms can meet different goals is key for B2B brands. While Instagram and Facebook were considered only B2C opportunities, they can now be a force for showing off your culture. They are emerging as a key place to shine for B2B recruiting and partnerships. Humanize your brand on these social media channels.

Paid Advertising: From Google ads to geofencing, paid ads are a powerful way to reach B2B clients at the TOFU. Use pay-per-click (PPC) advertising on platforms like Google Ads and display ads on social media to reach a broader audience. Be sure to target keywords and demographics that align with your target market. Geofencing ads are becoming one of the most effective strategies at industry events and conferences. They are used to gain brand awareness, and then be able to retarget those prospects as they return home.

Search Engine Optimization (SEO): Optimize your website for search engines to increase organic visibility. High-quality, informative, and well-optimized content is key to ranking well on search engine results pages (SERPs). Blogs are an excellent place to attract potential clients for those who may not have brand awareness of you yet. Doing proper keyword research is a critical element to matching what people are actually searching for. Match this to the content that you are writing about. Show off your specific experience and expertise here.

White Papers and Digital Downloads: White papers and digital downloads can be valuable assets for generating awareness. They create opportunities to capture leads at the top of the sales funnel. At this stage, potential customers may be seeking information or solutions to a problem. Offering a well-crafted white paper or downloadable resource can help you:

  • Attract website visitors: Promote your white paper through various channels, including social media, blog posts, and paid advertising.
  • Capture leads: Use these resources as “lead magnets” to encourage visitors to provide their contact information. This allows you to build an email list and initiate the lead nurturing process.
  • Educate prospects: The content of your white paper or digital download should be informative. It should address common pain points and provide valuable insights. These should not be overly promotional. Instead, they should establish your authority and expertise in the industry.

Middle of Funnel (MOFU): Nurturing Leads

Middle of Funnel Marketing Activities

Lead Generation: Implement lead generation strategies at this stage. Things like gated content, webinars, and quizzes help to capture contact information from interested prospects.

Email Marketing Sequences: Develop email sequences that provide deeper insights into your products or services. Send targeted content, case studies, and testimonials to educate leads and build trust.

Remarketing: Use remarketing campaigns to re-engage MOFU leads who have interacted with your website but haven’t converted yet. Show them tailored ads and content to remind them of your value.

Webinars and Workshops: Host webinars or online workshops that address specific pain points that your potential customers might be facing. These interactive sessions can help you establish authority in your industry.

Bottom of Funnel (BOFU): Closing the Deal

Personalized Recommendations: Leverage data to provide personalized product or service recommendations based on a prospect’s previous interactions with your brand. Specifically, tell them why your recommendation will help them meet their goals.

Customer Reviews and Testimonials: Showcase positive reviews and testimonials from satisfied customers to instill confidence in your offerings. B2B companies can utilize positive reviews and testimonials now more than ever. When they see that other companies have had success with you, it adds to the level of trust. This helps them move forward in their decision-making.

Email Drip Campaigns: Create targeted email drip campaigns for BOFU leads. For example, offer exclusive deals, limited-time offers, or free trials to encourage them to convert.

Social Proof: Display social proof elements like user-generated content, industry certifications, and industry awards on your website. This helps to reassure BOFU prospects of your credibility.

“Pages on your website with social proof in the form of content have an average conversion rate of 12.50%.”

Unbounce

Demos: Product demos give you a chance to walk your customers through what they can expect. Show your product capabilities and strengths to give them confidence that it can help them do business better. This is an area to truly show off your value and begin the close.

The Importance of Integration

Are different marketing channels using different messaging? Having a unified, defined voice across your brand is important for consistency and building trust.

For a successful digital marketing strategy in 2024, integration across all stages of the funnel is paramount. Data and insights from each stage should inform and optimize to move them through the funnel. By guiding the client through a positive buyer’s journey, you maximize the likelihood of conversion. And, being consistent with your brand’s voice and messaging will help reinforce your main points to your prospect.

Measuring and Iterating

In 2024, data-driven decision-making remains crucial. Implement robust analytics tools to measure the effectiveness of your marketing activities at each funnel stage. Key performance indicators (KPIs) should include conversion rates, click-through rates, engagement metrics, and customer acquisition costs. Most importantly, regularly review your data, identify areas for improvement, and iterate your strategies accordingly.

At Lake House Digital, our analytics are a true differentiator. Clients have live dashboards that allow them to see at any given point how different channels are performing. Also, they can compare them to the previous month and year. Above all, we believe offering transparent data helps our clients choose the right areas to invest in. From here, this helps build their brand awareness and the number of leads to grow.

48% of marketers are prioritizing their sales funnel - Quote from HubSpot

Conclusion

In 2024, a comprehensive digital marketing strategy speaking to all stages of the marketing funnel is essential for B2B success. Crafting compelling TOFU content, nurturing MOFU leads, and converting BOFU prospects requires a deep understanding of your target audience. By integrating and measuring your efforts, you can create a seamless customer journey. Therefor, this will achieve higher conversion rates, setting your business up for success in the years ahead.

About Lake House Digital

Lake House Digital, based in Cary, NC near the Research Triangle Park (RTP), was established in 2021. With over 50 years of combined experience, we provide measurable, actionable results in digital marketing efforts for our clients. In the industry, we are set apart: our employees hold industry certifications across topics and platforms. Lake House Digital has worked with B2B and B2C clients in life sciences, technology, manufacturing, healthcare, commercial real estate, hospitality, higher education, and nonprofits. We bring experience with a growth mindset to achieve the very best results: measurable, actionable results and growth for every client.  www.thelakehousedigital.com