90% startups fail. Well they won’t if they follow this approach!
Majority of SaaS startups face a common pitfall — running out of funds before forming a good understanding their customers and market needs.
The typical mistake? Adopting a broad full-funnel marketing approach without a clear grip of their ideal customer profile and target market segments.
If they follow a slightly different approach and be strategic with their marketing programs, many of them can avoid going bankrupt.
What’s the approach?
A reverse approach to building a marketing funnels. Starting with the bottom of the funnel and then going upwards as you test waters.
Advantages of this approach:
– Experiment with small budgets and then expand
– Tests are more meaningful as you get clear and accurate results
– Better validation of product market fit
The assumptions behind this approach are:
– You already have a minimum viable/valuable product
– Clear value proposition for those who are ready to buy
– Defined customer segments
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The Reverse Funnel Approach:
1. Bottom of the Funnel:
Channels/Activities: Use case promotion, Webinars, Search Ads, Free Trials.
Content: Case Studies, Product Demos, Buying Guides, Testimonials.
2. Middle of the Funnel:
Channels/Activities: Guest Blogging, Persona Campaigns, LinkedIn Ads, Events.
Content: Solution Demos, Educational Sheets, Whitepapers, Infographics.
3. Top of the Funnel:
Channels/Activities: Blogging, Webinars, PR News, Thought Leadership.
Content: Blog Articles, Industry Ebooks, Leadership Pieces, Infographics.
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While some would argue that you should have a full-funnel approach from the start, it only works if you have a lot of funds in your bank.
If not, start lean and then expand.
#startups
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