A Closer Look at Middle of Funnel Management (MOFU)
In previous posts, we have talked at length about the sales funnel and taken a bit of a deep dive into the top of the sales funnel. To quickly recap, the sales funnel is the process that every company uses to get a person interested in their product or service to actually hand over their money and complete a sale. In general, the sales funnel is broken down into 3 parts, the fits of which is the top of the sales funnel (TOFU), which the point at which everyone with any type of interest is considered to be a part. Once the real leads have been identified, they move to the middle of the funnel (MOFU), which is what we will look at in greater detail here.
While the middle of the sales funnel is where we start to get to the serious business of turning leads into sales, it can also be the area that very quickly becomes clogged if the sales team is not at the top of their game. The people who make it to this part of the funnel are those that have in some way or another expressed a genuine interest in the product or service being offered, usually in the form of requesting more information or engaging in the company page on social media by following and commenting. In short, they have identified themselves as legitimate leads.
The most important thing that a sales team can do at this point in the sales process is to make sure to follow up on all those people that have shown an interest. Not every person who reaches this part of the funnel is going to make it all the way to the bottom, which is why some sort of filtering process needs to be put in place, which usually begins with a follow-up call or email from the sales team. In many cases, potential customers can be moved in down the funnel by that process alone, but some will require a little more coaxing.
It is at this point that things can start to become a little tricky. How many follow-ups does it take before you realize that some people need to be cut loose because they are never going to buy? Someone may perfectly fit the target demographic your sales team has created, but that is no guarantee of a sale. While these people may seem attractive, they may be getting more attention than those who are actively engaging and more likely to buy. Getting the balance right and choosing between attractiveness and engagement is a must for any sales team.
Once the consumers that are ready to buy have been identified, it is time to move them on down to the bottom of the sales funnel (BOFU), but there is still no time to sit and celebrate, as there is still work to be done to complete that sale. In our final piece in this series, we are going to take a closer look at the bottom of the sales funnel and the techniques that businesses use to finally close the deal on a sale.
Links to more content in the Sales Funnel Series: