What is Lead Generation Funnel And How it Works? - IIM

1. What is Lead Generation Funnel and how it works? Lead generation attracts prospective customers by creating an interest in your products or services and converting them into permanent customers. Businesses can generate leads through various job applications, blog posts, coupons, live events, and online content. Business cannot sustain and grow without leads. No matter how effective and efficient your products or services are, your prospective customer must know about you or you have to find them. You can also provide some incentives like offers or discounts to keep your customers engaged. The term lead generation sales funnel refers to get the leads which are our prospective customers. Through various tactics, we convert them into our permanent customers. To get more understanding about this term, one can create a comparison between lead generation funnel and actual funnel. It will filter the best-qualified leads and also direct the way to convert them into customers. Lead Generation Sales Funnel works in three parts: TOFU: It stands for “top of the funnel”. In this stage, we gather all the prospective customers. BOFU: It stands for “bottom of the funnel”. Here, prospective clients are encouraged to pay the amount set for your products or services. MOFU: It stands for “middle of the funnel”. Prospective customers are tempted with various incentives to purchase your products or services. It is a strategic process which guarantees great results if followed strategically.

2. How and where can I find leads? The process occurs in three main stages. One must keep in mind that the process starts with many prospective customers but ends in less number of converted customers. To keep the number of converted customers high, you have to build a great strategy and follow it carefully. A similar term comes into play i.e. lead generation conversion funnel which represents the interaction between potential clients and your business. This interaction starts from an unknown web platform to a new client. Every business follows a different strategy which depends upon their sales or business type. But every strategy occurs in three stages which are: TOFU - Awareness: This is the beginning stage. You will not sell anything rather make them aware of your product. Most of the potential customer will not make their mind to buy your product which means you have to craft an appealing message to grab their interest. You can create their interest by selling the product or service of their interest. At this stage, you can build the reputation of your brand. MOFU - Consideration: Here, potential customers came to know about your products or services. Many of them know about the problem associated with your products. This stage bridges the gap between the initial and final stage. Sometimes, this stage occurs for the longest time. Relationships are nurtured and created in this stage. You can assess the buyer’s journey to get insights about your product. You can assess other things like the loyalty of the clients, brand reputation etc. BOFU – Decision: At this stage showcases your products or services in the best possible face to the customer. Make sure you post relatable content so that people get attracted to your products or services. This way, you can close your sale. You have to highlight the key offerings and convince them to make

3. them believe that you are the right choice. You can organise free trials, paid consultation programmes, etc. These three stages work differently for different business but occur in the same manner. They form a lead generation conversion funnel. How to capture the Leads? Not all visitors are converted to leads. Designing the web platform with attractive content is not enough. You need to capitalise to capture the leads. You can use landing pages, gated content etc. to gather the content and use it for business benefits. Design a lead capture form which must be interesting and engaging. It will be easy to sell them to customers. You have to gain the trust of the customers, create authority, and catch the attention of the customer. You can strengthen the values offered the businesses to capture the potential leads for the business. Reference: https://www.sooperarticles.com/business- articles/sales-articles/what-lead-generation-funnel-how-works- 1769327.html