Expanding the Sales Funnel to New Segments

Expanding your sales funnel involves identifying new customer segments, testing strategies for engagement, and tailoring messaging to attract and convert these audiences.

Why it's Important

Diversifies revenue streams.
Reduces dependency on a single customer base.
Unlocks opportunities for scaling.

How to Implement

Analyze existing data to identify potential untapped segments.
Conduct market research to validate demand.
Develop ICPs for new segments.
Test outreach campaigns tailored to these audiences.
Adjust product offerings or messaging as needed.

Available Workshops

Market Research Sprint: Identify and map new market opportunities.
Segment Persona Development: Create personas for new target segments.
Messaging A/B Testing: Test tailored messaging for each segment.
Funnel Mapping: Visualize how new segments move through your funnel.
Outreach Strategy Planning: Design and execute initial campaigns.
Data Analysis Session: Review results and refine approaches.

Deliverables

New ICPs and personas.
Campaign results and performance metrics.
Adjusted sales and marketing materials for new segments.

How to Measure

Conversion rates from new audiences.
ROI on campaigns targeting new segments.
Customer lifetime value (CLV) for new segments.
Revenue growth attributed to new audiences.

Real-World Examples

Square

Transitioned from serving micro-merchants to large businesses with tailored offerings.

Mailchimp

Expanded from small business email marketing to full-service marketing tools for mid-market companies.

Trello

Targeted project management needs for enterprise customers after early success with individual users.

Get It Right

Research thoroughly before entering new markets.
Test small-scale campaigns before scaling.
Align new segments with long-term goals.
Stay agile and ready to iterate.
Monitor performance closely for early signals.

Don't Make These Mistakes

Overextending resources without sufficient validation.
Assuming new segments will behave like existing ones.
Ignoring feedback from initial campaigns.
Underestimating the need for tailored messaging.
Neglecting to track performance data.

Provided courtesy of Whitney Elenbaas, Fractional CRO

Gem Consulting