In the old days, we create qualified leads by offering up lots of content. Our prospects found our content, filled out a form, downloaded the content, and then we reached out to them. This strategy still works, but over the last few years, we realized that what people like more than free content is free stuff. And it turns out that giving away software, a product, or service is an even more effective way to qualify leads and move prospects through the buyer journey.
[0:43] Question: What is a Code Funnel?
The code funnel is an engagement strategy that allows people to have an experience with your product or software before you ask them for any commitment. This try before you buy (TBYB) strategy allows users to begin extracting value from your product quickly while creating product qualified leads (PQLs).
If you’re not sold on giving away your product or service, don’t worry. It’s not uncommon for this strategy to run into some resistance at first.
Embracing a code funnel or TBYB strategy has a lot of benefits. First of all, it allows you to help more people. Your product or service is solving problems and helping your customers, so the more people who are making use of it the more people you are helping. Hand in hand with this, TBYB means your product has a quicker time to value. Everyone wants solutions and help right now. The faster you can put your solutions into the hands that need them, them better.
And the more prospects use your software or product, the more qualified they become. Qualified prospects rise to the top because the people who are actually using the software are more qualified than those who aren’t. This means that when you do reach out to these PQL’s you’re less disruptive because they are already qualified and ready to talk to you and you know exactly what to offer them and when to offer it.
[11:13] Dan's Rant
You can make a code funnel out of anything! Don’t say X product/service can’t be given away so we can’t use the code funnel. There is some way to implement try before you buy for every product or service.
[16:23] Todd's Truth
“The best way to engage buyers is to anticipate what problems they want to solve, diagnose how they research solutions, and help them solve those problems is a fast, comprehensive, and personalized way.”
Companies that make it easy will be the ones that win.
[19:02] 3 Takeaways
- Review your engagement process and strategies now
- Ask buyers what they want to see before buying
- Think of three ways people can try before they buy
We’re extending the MSPOT contest! You can download the MSPOT template, submit it for review, and anyone who submits an MSPOT will be entered into the contest. The first-place winner will win an hour to review their MSPOT with Todd and Dan!
Download and Submit Your MSPOT (https://www.inboundorganization.com/mspot-review)
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