How to See a 70% Increase in ROI with Top-of-Funnel Content
Episode 794: Show Notes
Have you ever felt like your marketing efforts are stuck in a loop, missing out on untapped potential? Join me in this episode as we unlock the secrets of top-of-funnel marketing, a paradigm shift that could supercharge your small business's success. In today's digital age, we often find ourselves focusing on the mid-funnel, trying to convert those who are already aware of us into loyal customers. But what about those who've never heard of our business? How can we connect with them? This is where top-of-funnel marketing steps in, helping us create brand awareness, spark conversations, and engage with a whole new audience.
Discover the strategies to stay ahead during economic challenges, as we delve into how innovation during tough times can lead to remarkable growth. I'll show you the power of "they get me" moments and the art of creating authentic connections with your audience. So, if you're ready to unlock untapped potential and drive your small business toward success, join me today as I unpack the game-changing world of top-of-funnel marketing! It's time to make a meaningful shift in your marketing strategy and connect with a broader audience, bringing fresh energy and opportunities to your business.
Listen on your favorite podcast player
How Top-of-Funnel Marketing Can Radically Change Your Business
When it comes to marketing, the majority of small business owners tend to focus on what I like to call mid-funnel content. Let’s step back for a moment. Picture a funnel, not the technical intricacies, but a path that takes someone from being completely unaware of your existence to becoming a devoted customer who recommends your business to others. This journey involves numerous stages, which we commonly refer to as a funnel.
Now, most small business owners concentrate on the mid-level because they've never needed to focus on the top level. Why? Well, as people move through these stages, the number of potential customers tends to shrink. So, you might convert only a small portion of mid-level prospects into actual leads before they become paying clients.
But here's the catch – before someone can become a prospect or lead, they need to know you exist. If you're offering services where you work closely with individuals, you might only need a handful of leads each month to fill your business. However, if you introduce additional revenue streams like group programs or courses, you'll need more leads. The conversion rate is lower, and the price point is usually smaller, so you need a larger audience depending on how you sell.
If you've been fine with just a few leads per month, you've probably created content geared toward the mid-level because you didn't need a massive volume of potential customers. But if you want to increase the total volume of people moving through your business and purchasing from you, you have to start at the top.
What This Study Tells Us About Top-of-Funnel Content
In 2021, Nielsen conducted a study commissioned by Google. In it, they took a close look at the marketing strategies of various campaigns and made a specific comparison between upper-level strategies, which target the top of the funnel, and mid-funnel strategies.
Now, what's the distinction here? Top-of-funnel marketing focuses on creating awareness. It involves reaching out to complete strangers, people who have never heard of you before. On the other hand, mid-funnel or nurture campaigns are all about showing appreciation, offering value, and building that essential "know, like, and trust" factor.
The intriguing finding from this study was that the upper-level marketing efforts experienced a significant 70% increase in return on investment (ROI), whereas only 13% improvement was observed in mid-level campaigns.Innovation in Tough Times
During challenging economic times, people tend to be more cautious. They want to ensure their investments are wise. However, there is a lesson that we can take from the markets here: making calculated, low-risk investments during economic downturns can lead to substantial rewards as the economic cycle rebounds and the economy improves.
COVID-19 caught us all off guard, and it hit industries and companies like travel, entertainment, VRBO, and Airbnb hard. Airbnb responded by significantly reducing its advertising efforts. In contrast, VRBO saw this as an opportunity. They boldly increased their spending by over $90 million. Fast forward to January and February 2021, nearly two years into the pandemic. VRBO's gamble paid off with a 61% boost in booking recovery, while Airbnb continued to decline by another 15%.
We've witnessed companies rise during times when others were struggling, laying off employees, and reducing prices. During the 2008 Great Recession, Amazon continued to innovate, introducing products like the Kindle, and its sales actually grew by 28% while the rest of the economy suffered. I firmly believe that when times get tough, the tough get innovative. I want you to feel informed, excited, and invigorated, despite the challenges!
Create Content For People Who Don’t Know You
If you want more buyers, no matter what you're selling, you need more leads. To get more leads, you need to increase awareness. How do you do this? By repeatedly reaching your audience with top-of-funnel strategies. These strategies build strong brand recognition and customer engagement through unique content that sparks conversations and fosters connections. While nurturing existing customers is important, practicing being visible to new people and telling compelling stories is essential in a world craving connections. Another positive is that it tends to be less competitive in this space, so don’t be afraid to try out new strategies.
How To Increase Awareness and Drive Engagement
So, how do you actually increase top-of-funnel awareness? Where should you invest your time and energy? We've discussed the concept of visibility channels before. As a refresher, I encourage you to revisit Episode 777 and Episode 793 where we explore visibility in greater detail. Regardless of the platform you choose or the way you decide to become visible, consider the purpose behind it. This purpose will shape how you present yourself, regardless of the place.
Remember, this content is designed for strangers. Imagine you're speaking to someone who has no idea who you are. What would you say? How would you say it? What kind of first impression do you want to make? Make it a habit to create content for people who don't know you at all.
These individuals want to get to know you, but they don't have a clue who you are. To engage them, share your background, history, and expertise. Talk about the results you've achieved for clients. Engagement can take many forms, but focus on driving the kind of engagement that your chosen visibility channel values and rewards. Every platform wants people to communicate and stay engaged, so think about what your audience wants to know, say, share, and hear about. Tailor your content to meet their needs and spark interactions!
Why You Need to Create ‘They Get Me’ Moments
I'm not suggesting that one strategy is king or that there's a universal best approach for top-of-funnel marketing. It all comes down to understanding your audience, what resonates with them, and the problems they face. At this stage, your goal is simple: make them feel understood. You want them to say, "They get me." Once you achieve this, it can lead to more meaningful follow-up conversations. The key is to create more of these "they get me" moments.I'm not asking you to start producing a massive amount of content. Instead, I'm suggesting that you show up in a way you might not have tried before. Perhaps you've been intimidated in the past or didn't see immediate results. Consistency is key; it's a marathon, not a sprint. You don't run a marathon without training, and similarly, you don't have to do everything immediately. Take it step by step.
Remember, visibility is a long game. While some results might be instant, they usually sit at the top of the sales cycle. It takes time to see the full impact of your efforts, but as someone who has focused on developing content for awareness throughout her career, I can assure you that it's worth it, time and time again.
Tools and Templates To Get You Started
To support you in this journey, I've created tools that can help you succeed. The Co-op and Creative Template Shop are designed to provide you with the resources you need to boost awareness, build your brand, and deliver value to your clients more efficiently and effectively.
In just a few weeks, I'll be unveiling our brand-new website, and I want you to be a part of it! I'm committed to helping you navigate these challenging times and be part of a meaningful community.
For more information, visit creativetemplateshop.com/join. Trust me on this one and get started now. Exciting new resources are on the way, and they'll transform your business for the better. I'm looking forward to assisting you, and I can't wait to see you in the community!
Quote This
When the going gets tough, the tough get innovative.
Highlights
The Biggest Mistake Small Businesses Are Making With Their Funnels [0:04:57]
What This Study Tells Us About Top-of-Funnel Content [0:08:31]
Innovation in Tough Times [0:09:29]
Create Content For People Who Don’t Know You [0:17:35]
How To Increase Awareness and Drive Engagement [0:19:49]
Why You Need to Create ‘They Get Me’ Moments [0:28:33]
Tools and Templates To Get You Started [0:32:10]
OUR HOST:
Abagail Pumphrey
Boss Project on Instagram | Facebook
Abagail Pumphrey, the Co-Founder & CEO of Boss Project, has been a driving force in the creative entrepreneur industry since 2015. With a passion for empowering service-based business owners around the globe, she became internet-famous after the launch of the transformative training, "Trello for Business." This innovative system revitalized the operations of over 10,000 business owners, making a significant impact on the online business landscape.
Under Abagail's leadership, Boss Project has been featured in prestigious publications such as Forbes, Marie Claire, INC, and HuffPost. Her twice-weekly podcast, The Strategy Hour, is a staple in the business community, continuously topping Business and Management Charts on Apple with millions of listeners from around the world.
Abagail's superpower lies in her ability to break down complex concepts into easy-to-implement, duplicatable systems. As an expert in online sales and a data-driven strategist, she has turned a layoff into a 7-figure work-from-home business. Abagail's mission to help more female founders become financially free, without letting their businesses take over their lives, continues to inspire and guide entrepreneurs on their path to success.
Key Topics:
Top-of-funnel content, Marketing, Innovation, Design, Resources, Templates
