October 22, 2021

Getting Started With Pipeline Marketing

Pipeline marketing is a technique that has been around for quite some time. It was originally developed by the oil and gas industry in order to make sure they had enough demand for their product, but it can be applied to any business with a pipeline of products or services. In this blog post, we will talk about how you can use these techniques to increase your conversion rate and generate more revenue for your company!

Pipeline marketing is a process that allows marketers to identify, plan, and execute the steps needed to generate new leads. Pipeline marketing increases efficiency by allowing marketers to have a clear goal in mind for what they are trying to achieve. It also reduces wasted time because it cuts out any unnecessary lead generation methods like cold calling, which can be extremely frustrating. 

What Is Pipeline Marketing?

Pipeline marketing is about finding customers who are likely to buy your product. It's a strategic approach that limits the amount of time you spend focusing on prospects who aren't likely to buy, freeing up time and resources to focus on customers who will purchase. 

Pipeline marketing focuses on building relationships with prospective customers by nurturing them through each stage in the buying process. Pipeline marketers have found that this approach increases conversion rates and reduces customer acquisition costs.

The best way to think about pipeline marketing is that it's like an assembly line in a factory or store; each customer (prospect) goes through the process one at a time until he becomes a satisfied customer (buyer).

Some pitfalls of pipeline marketing

  1. The main pitfall of pipeline marketing  is wasting time and resources trying too hard to convince low-value prospects. All this does is make it harder for you to meet sales goals. Make sure you give each prospect just enough attention so that she can make a purchase decision without feeling pressured.
  1. Another pitfall is the opposite of wasting time and resources on low-value prospects; focusing too much on high-value customers can distract you from new prospects that could turn into solid sales down the road. Customers who seem like they may not need your product or service right away are just as valuable as sales that happen immediately, so don't let yourself get so caught up with current buyers that you neglect future ones .
  1. One more thing about pipeline marketing is, where there's some type of supply chain. For example, pipeline marketing would be relevant to first responders trying to provide care for an increasing number of patients, or manufacturers who are trying to keep up with increased demands. Pipeline marketing is about making sure that each customer gets the attention he deserves so that you're able to sell as efficiently as possible. 
  1. Pipeline marketing also makes your items available to consumers throughout the year, rather than just during certain seasons, which may actually devalue your products. This means that instead of being popular only during Christmas or another holiday season, it will be in demand for 12 months out of the year. This can be good for sales, but will also require you to produce more of your items than you would if you limited distribution to just one season per year.

Pipeline Marketing Vs Lead Generation

People generate leads and prospects throughout the pipeline process by contacting or befriending them. The difference between a lead generation approach and a pipeline marketing approach is that with lead generation you're cold calling people without knowing whether they are interested in your product/service at all, whereas with a Pipeline Marketing Approach, people who fit into your target market will be showing up as opportunities that you nurture until they turn into clients. Your goal with MLM is to break through the market noise and make yourself known as someone who provides solutions within your industry, focused on helping those companies tap into the potential of their business. `

How Does Pipeline Marketing Work?

  • The first step in implementing a successful pipeline marketing campaign begins with preparation and research into your potential customers. Some important questions to ask are: How likely are they to refer to others? Do they have an 'in' with other organizations that would benefit from our services? Are these people we've worked with previously and if so why do we win/lose them as clients?
  • Once the pipeline marketing company has developed an understanding of your potential customers they can begin to establish business relationships with them, tapping into their contacts and networks. This process can be both proactive (contacting people who are likely to refer to you) or reactive (finding people who have expressed interest in referring to you). 
  • At all times, it is important that the business relationship with these individuals is maintained through good communication and value added activities. Examples of value-added services include newsletters, updates, material about new products/services etc. All this builds trust between the customer and provider which increases referral rates. It also helps prevent competitors from getting hold of their valuable customers by providing information on how they will receive exclusive offers not available to other competitors. When the referrals start to come in, it is best practice to manage them through a CRM system. This will allow you to track each referral's contact details and history with your business. 
  • Once you have approached the potential customer who has expressed an interest in referring to you, it is up to you whether they become a paying or non-paying client. For this reason pipeline marketing companies typically charge on a 'cost per lead' basis rather than 'success fee'. And if they are successful clients then of course there are more leads available for future sales!

Types Of Pipeline Marketing

The reason why pipeline marketing works so well is because it pre-qualifies prospects that are in the market for your product or service. This means they already have an interest in what you offer and are actively looking for solutions. You can get very targeted with your outreach by using this method because you know exactly who you should be targeting based on where they are in your sales funnel (every business needs to think about sales funnels).

There are 7 different ways to do pipeline marketing.

1. Web/Email Traffic: If people land on your website, they either found it organically or were referred by someone else (word of mouth, pay per click etc). You can track all this with Google Analytics or other analytics software if you aren't already (and don't think that cookie tracking doesn't matter - It does! Don't underestimate it) This is a very important step in setting up your sales funnel because now you can easily extract people who visited certain pages and send them targeted messages based on what they did before the site. 

Here's an example:

People who sign up for your newsletter are likely interested in your product. They posted their email on the contact us page which means they probably already have an interest in what you do. Still, there's nothing wrong with sending them a note about something related. You could also offer them something exclusive like early access to your product or discount coupons, because these subscribers were bothered enough to give you their email address (and trust me people LOVE getting things for free). This gives you the opportunity to segway into another marketing campaign after they read that first message; either an automated drip campaign (more on that later) or a one-time targeted promotion that may lead them to become customers at some time in the future. Doing this will help you get a list of qualified leads that you can build on in the future. It's up to you if you want to give them something in exchange for their email address or not, but in most cases (especially when they're new and don't know your company) it is recommended.

2. Referral: If someone who knows your product recommends it, chances are they vouch for it and would be happy to help out. Contact this person and ask how he/she found out about you (this serves two purposes - One is because referrals mean a lot and people like talking about themselves, Two you can use this information when thinking about your next marketing campaign). People trust people they know so this is why referral marketing works so well, and it's also the least expensive form of marketing if you involve your customers.

3. Unconventional: People who bought something matching your product may be open to buying more from you in the future if you can send them an offer that is related but offers something they need to get done. This method works well because it targets people who already know and like what you do, which saves a lot of money (instead of acquiring new customers). The key with this strategy is using research before sending them anything so you don't annoy them. If their job title is CFO for example there's no point in sending them a list of marketing tools because they probably wouldn't care about those things. You should only reach out to them if you think they might need what you're offering and it's relevant.

4. Email: Email marketing is the old standby for most marketers and no matter how many people slam it, it's still very effective (if done right). You can use drip campaigns to automate the process of sending automated emails to everyone on your list. No one would complain about getting more stuff in their inbox (well, maybe some people do - but those are probably not interested in your product anyway) which means this method works well with new leads as well as experienced ones who may be open to a few extra offers now and then.

5. Search Engine Marketing: SEM relies heavily on keywords but that doesn't mean you have to stuff your website with them. To use this method you need to set up multiple campaigns that target different types of keywords because people who are searching for something related to your business may not be ready to buy, but they might have long-term interest in what you do. SEM works best if combined with other forms of marketing so always think about how you can use it as part of a larger plan to get even better results.

6. Social Media Marketing: Every company should have a presence on social media because it's become the tool used by many people looking for products and services online (although it shouldn't be limited to that). Some people abuse social media though, or don't really know what they're doing which means very few take advantage of its full potential.

7. Offline:  You don't have to market your business online only, although that is the norm these days. You can print up flyers or postcards with coupons or special offers that are good for one day only which requires the recipient to go offline to redeem them (this lets you target specific events where they're likely to attend). The downside with this approach is sometimes people throw away things like this so you may find yourself spending money on something very few take advantage of - It's worth trying though because every now and then you'll find a gold nugget.

Stages Of Pipeline Marketing

Pipeline Marketing's approach includes initial prospecting activities at the beginning of a campaign, then creating awareness through advertising or public relations efforts, followed by education or consultation tactics during a middle phase of relationship development, and finally closing the deal. A strong pipeline marketing campaign needs to find the balance between too much and too little of any one phase, particularly during early phases when not enough activity can kill a campaign before it starts, but trying to generate leads without adequate consideration for later stages can result in unqualified prospects or disqualified leads.

1. Initial prospecting : The first step is for you (and your team) to do some research on the area that interests you; this interest could be anything from getting into an industry to launching a product into it. At this point you are looking at your competitors, researching market information and potential partners within the market. You need to find out what's currently (i.e., who has the saleable assets?) and who isn't (i.e., what do they lack? What market gaps are there?) in the market.

2. Identification : Now that you know about your targeted customer types, now you need to identify the companies that fit into those categories. You want to find out who your competitors are; how many customers they have, and which of those customers you could be potentially working with (without treading on their toes of course!). This is about creating awareness of what products and services you can provide them with, and whether or not it's something they would be interested in.

3. Education/Consultation : This phase is where the heavy-weight education takes place; this will maximize your ability to build rapport with your potential prospects, by sharing valuable information with them that is relevant to their individual challenges. The end goal for you here is to be perceived as an authority on the market or industry you operate within - someone who knows what they are talking about.

4. Generation : Now that you have enticed your prospects with valuable education and information, this is when you start generating interest in becoming a client of yours. You need to determine if their needs correspond to what you can offer them at the price point they will want it to be offered at; and whether or not there is common ground between the two of you for an agreement to take place (i.e., does it make sense for both parties?). If so, now is the time to close!

5. Transaction : This is where you hand over your product/service in exchange for payment from the customer. Congratulations! You have successfully conducted a transaction within a pipeline marketing approach.

6. Relationship: In this phase, your goal is to keep in touch with your existing customers, and show that you value their business by offering them promotions and special offers that are exclusive only to them. Also remember that these customers have already experienced what you can offer them, so it makes sense for them to come back and experience it again!

If you're looking for a way to increase your marketing effectiveness, Pipeline Marketing is the answer. Pipeline Marketing is an effective strategy that can be used to identify and target potential customers with specific interests. It's also one of the most cost-effective ways to market because it focuses on people who are already interested in what you have to offer. With Pipeline Marketing, there are no bad leads - only good ones! Read this blog post to find out how Pipeline Marketing works and how it could benefit your business.

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Spencer Farber

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