Maximum’s Take On The New Marketing Sales Funnel
It is a known fact that the link between marketing and sales is nothing new and the stages the luxury home buyer takes within are pretty much intact, but in today’s day and age, customer centricity and long-term relationships between the home buyer and the brand requires that marketers take on a greater presence throughout the funnel. More than ever, marketers need to become strategic in how they support the new funnel stages focusing on “quality” demand-generation, higher conversation rates at each stage, customer satisfaction, and advocacy which results in pre-qualified leads for the sales force and meaningful revenue outcomes for the investors and real-estate developers.
With this new focus on customer centricity and long-term relationships, the sales team becomes empowered with data and insights, so they are armed with new knowledge and a structured way to relate to the educated home buyer with more confidence. Their time is spent on establishing ongoing relationships during lengthy times between contact and purchase. Switching to this collaborative sales and marketing approach has been known to boost sales success.
Since aligning our strategies at Maximum to this new model, we are reporting growth in business goals with an improved ROAS and ROI.
What Changed With the Sales Funnel?
Like many classic business concepts, the funnel became outdated with the rise of the internet, indexed search, and the evolving search transformation, the explosion of social media networks, artificial intelligence, technology and speed to information. The funnel doesn’t meet the needs of today’s well educated high-net-worth home buyer nor does it build on marketing efficiencies.
The Old Sales Funnel objective was clear, simple and linear: guide potential home buyers from the top of the funnel to the bottom, as efficiently as possible; handing over leads to the sales team to contact, score and build relationships. This entailed a lot of cold calls and an inefficient use of time.
- Issues with the funnel to today’s luxury home buyer:
- Not customer-centric
- Emphasizes quantity over quality
- Considers consumer as uninformed
- Doesn’t account for momentum and speed to content
The New Sales Funnel Model of the Future is evolving with customers behavior as new technology is introduced and builds on the need to be found digitally at every stage of the buyer’s decision-making process.
- The customer is the center throughout the funnel
- Pre-qualifies potential buyers at the top of the funnel resulting in improved conversions
- Considers buyer as well-informed due to real-time access to information
- Incorporates speed and technology
Picture something like this:
MAXIMUM’s APPROACH? Insights and observations
You wouldn’t develop a marketing plan that doesn’t align with today’s consumer buying patterns, so why would you model success against an outdated sales funnel?
Maximum develops clients’ annual real-estate lead generation communication plans to be increasingly integrated throughout the new sales funnel.
We documented a few observations where our strategies had the most noticeable impact on our clients’ quality of leads and bottom line. We begin with pre-qualifying at the top of the funnel which drives for higher conversions at each stage.
- Identifying the Right Moment & Message. From our internal resources, research and case studies, we have a direct line into the ultra-high-end luxury home buyers’ online behavior and how they engaged with our client’s arsenal of content. Through ongoing testing and learning, we are able to identify the pieces of content that engage home buyers at certain stages of the home buyers journey.
- Building personalized touchpoints. Proprietary data presented an incredible opportunity to build more powerful relationships with luxury homebuyers. The right message that emotionally triggers a connection that can sway them into a re-consideration at any point throughout their journey.
- Intrusive vs. Non-intrusive. Keeping data privacy regulation top-of-mind, Maximum continues to build trust by leveraging data in appropriate ways that are contextually relevant at the right time, but also reinforces the value of opting in.
- Education & changing the mindset. We provide monthly reports and insights, with continuous education to key decision makers on trends that can be disruptive to attaining their goals in the new sales funnel. We arm clients with the knowledge to assist the sales team in speed to conversions. Rather than traditional cold calling, we found better solutions to empower the sales force to build relationships with the new more educated luxury home buyer.
It’s a fact that technology has fundamentally disrupted every stage within the traditional sales funnel experience, from the process to the timeline to a home purchase. This allows for smart marketing throughout the entire sales funnel.
Alongside this fact, the home-buyer is demanding immediate self-satisfaction from the brands, personalized content, real-time access to information to assist in making their buying decision, and yes, with the ability to read their minds but only on their terms. Therefore, brands need to ensure that their brand messages are well executed, easily found on the web by sites that attract attention and convert eyeballs into highly qualified leads.
If you need an agency that can win for you, please reach out and contact Maximum.