Marketing funnel has become a tricky issue for startups and this is what this article is going to explain in detail. Any lead comes through the door but many of them do not convert through, or into customers. This is the opportunity when a fractional CMO comes in handy. In contrast to a conventional marketing executive, they are highly engaged and quantitatively orientated in the process of optimizing each funnel’s stage.
However, what does this tell us that they do differently? In what ways do they pinpoint areas that need improvement and how do they go about addressing such issues with a view of enhancing the conversion rate? Let’s find out in this article!
Understanding the Marketing Funnel
he funnel shows from the stage where the customer is just aware of the product to the stage where he has decided to purchase the particular product. It is generally composed of 3 prominent phases:
- A type of marketing funnel generally referred to as Top of the Funnel (TOFU), which consists of targeting potential customers and raising their brand awareness.
- The second stage is the Middle of the Funnel. This funnel covers building a relationship with prospects through best content.
- The last stage referred to as the bottom of the funnel or BOFU is the process of keeping the generated leads as paying customers.
Fractional CMO targets all the stages and seals all the leakages to increase conversion rates.
Step 1: Diagnosing Funnel Weaknesses
In the initial stages, one has to identify the problem that needs to be optimized. A fractional CMO does not speculate, rather they work on strategies based on facts and figures. They will track in which point the consumers stop engaging through marketing analytics.
If one is in a startup firm, low website traffic might be attributed to poor SEO or improper advertisement. However, if leads are present but are not converting, it can only be assumed that the message being passed out is not well understood. It is noteworthy that getting insights into these challenges will help a fractional CMO develop a course of action that would address them effectively.
Step 2: Improving Lead Generation (TOFU Optimization)
The second step is to enhance the top of the funnel (TOFU) Optimization In other words, the task of improving the top of the funnel or TOFU entails optimizing every way that leads to a prospect becoming aware of the business:
A weak portion at the top of the funnel makes it difficult to attract the large number of consumers needed. A fractional CMO will optimize the process of lead generation to market only quality leads. These may enhance SEO, advance content marketing, and adjust paid ads to be more effective.
SEO plays a major role here. The fact of the matter is that if a startup is not ranked on SERMs, organic traffic takes a hit. A fractional CMO makes sure that the website is properly positioned in terms of classes of high-ranking keywords and content, which is relevant to its audiences.
They also adjust the social media activities as well as test various ad creatives for better and improved influence.
Step 3: Strengthening Engagement (MOFU Optimization)
At this stage, potential customers require additional attention and care. This article discusses that most startups are likely to lose leads since they don’t know how to manage them properly. A fractional CMO creates email drips, messaging, and high-quality content programs.
They enhance website homepage rendering to provide the appropriate page to the visitor at the correct time. If the bounce rate is high, they uniquely evaluate various CTA and modifications of a website’s user experience.
A fractional CMO also guarantees that remarketing is also part of the strategy. This means targeting those visitors who once came to the website and left without further activity.
Step 4: Boosting Conversions (BOFU Optimization)
The operational level is the lowest ground as it is the point where concrete business transpires. This means that if users are being driven to this level, but do not buy, then the process is faulty. A fractional CMO will maintain fine-tuning of the organization’s pricing models, and strengthen the trust factors by improving the checkout or signup process.
Purchase processes are one of the common errors that many startups fall prey to. Fractional CMO solves this problem with a narrow form field, better payment options, and easily understandable guarantees.
They also employ A/B testing to test different messages and promos. The use of data prevents inefficiencies in conversion from occurring.
Step 5: Continuous Testing and Refinement
Optimization isn’t a one-time task. Continuous marketing funnel optimization is a distinguishing feature of a fractional CMO because it makes several adjustments to the method. Some of these include; cost per acquisition (CPA), conversion rates, and customer lifetime value (CLV).
Why a Fractional CMO Stands Out
Hiring a fractional CMO can be more cost-effective as compared with a full-time hire, who adds experience to the business. They are quite liberal in working with startup companies and are more oriented toward achieving specific results rather than involving certain strategies in the process.
Contrary to a classical CMO, they assess issues set up the necessary measures, and do not linger inside an organization’s hierarchies. It focuses on data, automation, and proper marketing to do its job and bring valuable changes right away.
Conclusion
It is important to note that marketing funnels are crucial to all startups about growth. This type of CMO allows for the detection of shortcomings, suggests ways for boosting engagement levels, and increases conversion rates through the usage of a more tactical approach based on concrete data.
Accommodating the tapering gives the startups quality leads, an engaging audience, and more income. The key message that can be derived from it is that even when one is conducting a little marketing campaign, the outcome can be grand.
