What Is The Bow Tie Funnel? Meet Your New B2B Growth Plan

If you're stuck on just getting new customers, you're leaving money on the table. Let’s fix that. The Bow Tie Funnel is your blueprint for keeping customers around and turning them into your biggest fans.

Let's talk about what makes it so effective, how it works, and how its implementation can transform the way you do business.

What's Wrong with the Traditional Sales Funnel?

The old sales funnel is like a one-sided conversation. It says, "Hello, buy from us," but never asks, "Are you happy?"

It focuses on:

• Attracting leads
• Nurturing them
• Turning them into customers

Then, it stops.

Big mistake. Why? Because keeping a customer costs less than finding a new one.

"It is five to 25 times more expensive to acquire new customers than to retain existing ones." - Harvard Business Review.?

The Bow Tie Funnel Unveils The Full Customer Story

Picture your funnel. Now flip it sideways and stick it to the first one. You get a bow tie. This isn't just fashion; it's the entire life story of your customer.

• Left Side: This is about attracting and converting new people.
• Right Side: This is your plan to make those new customers stick around and even sing your praises.

The Four Extra Stages of The Bow Tie Funnel: How to Turn Your Customers into True Fans

On the right side of the Bow Tie, there are key stages to build customer love:

• Adopter:They just clicked 'buy.' Now make sure they feel brilliant about it. Send them a thank-you email that shows them how to get the most from their purchase.Collect feedback on why they chose you. Did your fast delivery win them? Or was it your killer product features? Use these insights to tighten your sales messages.Don't guess why they came; ask them. Use simple surveys or quick phone calls to uncover the ‘why.’ This will make your left side (attraction stage) even stronger.
• Loyalist:These are your second-daters, they like you enough to come back. Stop selling and start helping. Show them new ways to use your product or service that they hadn’t thought of. Or show them advanced features or give tips on getting more value from your service.Content is king here. Create customer-only blog posts or webinars that solve advanced issues or uncover new use cases for your product. Use personalized emails or customer-only webinars to add value without hard-selling.
• Advocate:These customers not only return but also start bringing friends. Roll out the red carpet: Give them easy-to-share referral codes or make a video they can share online.Also, reward their loyalty and say thank you. When they refer someone new, give them a reward like a discount or a free add-on. Make it a win-win.
• Ambassador:Your rockstars. They don’t just like you; they tell the world. These people are your brand in human form. Keep them close. Treat them like gold. Invite them to an exclusive customer advisory board or give them early access to new features.And keep the lines open. Regular check-ins or exclusive offers make them feel part of your brand’s inner circle.

Why Every B2B Company Should Switch to the Bow Tie Funnel

• Increased Earnings: A returning customer often spends more than a new one. Plus, it costs less to keep them.
• Data Goldmine: Understanding why customers stick around gives you powerful data. Use this to fine-tune every part of your business.
• Team Synergy: Sales get leads, marketing nurtures them, and customer service keeps them happy. All departments win when they use the Bow Tie Funnel.

Your Action Plan

Your customer is not a one-and-done deal. With the Bow Tie Funnel, you engage and delight them, making your business irresistibly shareable.?

How can you optimize customer acquisition and retention with the Bow Tie Funnel?

READ THE FULL BLOG

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