Bottom of the Funnel Management (BOFU)

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Bottom of the Funnel Management (BOFU)

Bottom of the Funnel Management (BOFU)

A Closer Look at Bottom of the Funnel Management (BOFU)

 

In order for a business to reach the top of their chosen industry, they need to get as many people as possible to the bottom of the sales funnel. As we discussed in previous posts, the sales funnel is a process that turns leads into sales in as few steps as possible. In simple terms, the funnel is broken down into 3 distinct, but equally important parts. The top of the sales funnel (TOFU) is where everyone with even a passing interest in your brand resides, while the middle (MOFU) is where you will find the legitimate sales leads. The final step is to move those folks down to the bottom of the funnel (BOFU), which is what we are going to take a closer look at now.

 

Once a person reaches the bottom of the funnel, they have essentially shown themselves as a person legitimately interested in making a purchase. Some people will have smoothly transitioned from the TOFU to the BOFU, while others may have had a little coaxing from the sales team. In almost all cases, though, the people who make it to this point, and who are often referred to as opportunities, have been actively engaging in your marketing campaigns or expressing a serious interest in what it is that your business has to offer.

 

At this stage of the game, the goal should be to make the completion of the sale as straightforward as possible. It is not uncommon to see customers reach the BOFU, only to skip out at the last minute because the sales process suddenly becomes overly complicated. You have already done the hard work to get them to this point, so don’t then blow it by making them jump through too many hoops to get the job done. Once a sales lead becomes qualified, the sale should be completed as quickly and efficiently as possible. If an issue does arrive, it is imperative that a member of the sales team follows up quickly to see how the issue can be resolved.

 

Another mistake that is commonly made by too many businesses is assuming that the end of the sale means the end of the relationship with that specific customer. That should not be the case, as it is important that they are made to feel as special as they were when they entered the sales funnel in the first place. Follow up emails asking how they enjoyed their product or service is a good way to start, as is perhaps offering a discount off their next purchase. The goal here is to keep them at the bottom of the sales funnel for the foreseeable future.

 

The good news for businesses that are just getting started is that there is now plenty of software and other tools out there designed to help make the sales funnel management process that much easier. Those tools cannot do all the work, though, as customers still prefer the human touch, even when most of their shopping is now down online.

 

Links to more content in the Sales Funnel Series:

 

A Closer Look at Top of the Funnel Management (TOFU) 

 

A Closer Look at Middle of Funnel Management (MOFU)

 

A Closer Look at Bottom of the Funnel Management (BOFU)

 

 

JoeFlynn

jflynn10@gmail.com

Joe Flynn is a Silicon Valley Entrepreneur who created Lavante, Inc. Lavante was started with the vision using Machine Learning, Natural Language Processing and advanced Data Extraction techniques to transform the traditionally manual-based Account Payable Recovery industry. Lavante Was acquired by PRGX Inc. in November 2017. Joe is currently working on a new venture using Artificial Intelligence and Machine learning to transform trade partner communications across the entire supply chain.

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