What does Bottom of the funnel mean in marketing terminology?

Bottom of the funnel

The bottom of the funnel (BOF) refers to the final stage of a customer’s journey when they are making a purchase decision. This term is used in marketing to signify the transition from a lead to a paying customer. It is often used as part of a sales funnel, where leads are nurtured and qualified at the top of the funnel before progressing through the main body of the funnel and being pushed out of the bottom of the funnel.

The BOF encompasses the point of purchase where the customer displays intent and behaviour significant enough to signal that they are likely to become a customer. Companies should develop strategies and tactics at this point in order to maximise the number of customers they acquire.

In order to succeed at the bottom of the funnel, there are a variety of best practices, guidelines, and tactics that should be followed. It is important that these tactics are developed in order to move potential customers down the funnel and increase the chance of converting them into paying customers.

Below are the key elements of a successful bottom of the funnel strategy:

1. Messaging: An effective bottom of the funnel strategy should begin with messaging that inspires trust and confidence in the customer. This should be done through clear and concise messaging that concisely explains the features and benefits on offer, and makes the customer feel like their purchase decision will reap rewards.

2. Offers: Offering discounts and incentives can be extremely effective when it comes to driving conversions. Short-term promotions, discount codes, and limited time offers can all be used to drive customers to convert.

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3. Landing Pages: Landing pages are an effective way of bringing customers to the next step of the purchase process. Landing pages should be optimised to effectively capture customers’ attention and guide them towards the purchase decision.

4. Lead Capture: Collecting customers’ contact information is a key part of the bottom of the funnel process. Building a contact list allows companies to reach out to customers who have shown an interest and remind them of their purchase decision.

5. Follow Up: Following up with customers is an essential part of any bottom of the funnel strategy. Contacting customers and offering support, advice, and reassurances can help to guide them through the purchase process.

6. Conversion Rate Optimisation: Optimising the conversion process is key to maximising the ROI from any bottom of the funnel activity. Companies should take the time to test and tweak elements of the process – such as page design, messaging, and offers – in order to maximise the conversion rate and return on investment.

7. Retargeting: Retargeting is a powerful way of ensuring that customers who have expressed an interest are taken to the end of the funnel and converted. Companies should consider retargeting customers who have shown interest in order to increase the chance of the purchase being completed.

Following these best practices and guidelines can be a great way to ensure success at the bottom of the funnel and increase the chances of turning leads into paying customers. Companies should take the time to carefully plan their bottom of the funnel creative and tactics in order to maximise their return on investment.