Horror Stories from the Funnel's Graveyard: Where Lost Leads Haunt

Greetings, my gruesome growth gurus! It's that gory season again, and what better way to celebrate than with a cadaverous collection of "Growth Horror Stories!" Get ready to quiver, as these terrifying tales of torment hail from the most haunted chambers of my clients' experiences. May they not only send chills down your spine but remind you of the diabolical dangers lurking in the shadows of unfounded assumptions. Ah, but enough preamble—time to dig up our first grave... I mean, story! (I'm fully invested in the Crypt keeper voice, but if you want plain English, click here scroll down to the plain English version).

Where Lost Leads Haunt (Crypt Keeper Voice)

Let me weave you a wicked web about a B2B SAAS company, their prey— finance companies. Upon my darkened arrival, I beckoned them to display their entire crypt— ahem, funnel— from the ethereal click of an ad to the blood-curdling finalities of revenue. Like most lost souls who wander into my realm, they were ill-prepared. Their data? Nowhere to be found!

Fear not, for we at Iter8 (the ghostly guardians of growth) know the dance of the dead. We don't merely advise on cursed campaigns or doomed digital endeavors; no, we always start with the skeletons in your closet, the data. Without it, you're just throwing gold into a haunted pit, hoping for a phantom return.

Our story's unfortunate souls claimed a monthly sacrifice of $3000 to the LinkedIn Lords and were delighted by the plethora of leads pouring in. But, as we wove our magical metrics web, a dark secret emerged from the abyss: their average lead response time was languishing in limbo for three to four gruesome days! Oh, the horror! In the treacherous world of lead response, anything longer than a few fleeting minutes might as well be an eternity.

This tale of woe culminates with the sorrowful revelation: their precious $3000 fed the LinkedIn monster was all in vain. By the time they returned from the dead to respond, those leads had already been ensnared by other predators. So, my dear disciples of data, heed this mournful message: Never keep pouring potions if your cauldron's cracked!

And with that, I bid you adieu— until the next tormented tale. Happy hauntings!

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Where Lost Leads Haunt (Plain English)

This story originates from a B2B SaaS company offering a software solution to finance firms. As per my usual approach, I requested a comprehensive assessment of their funnel. By "comprehensive", I mean from the very first ad click, right down to revenue, retention, and every key metric in between. Like many before them, this client wasn't armed with the necessary data. At Iter8, we always prioritize data. If you don't have it, we'll set up the tools and systems to capture it, ensuring you're ready for every ad dollar spent.

During our initial discussions, I inquired about their LinkedIn ad expenditure. They reported spending around $3,000 a month, yielding a good volume of leads. Taking this at face value, we continued with other marketing discussions while setting up the necessary analytics, including HubSpot CRM. That's when we discovered a gap: their lead response time was untracked. When we began monitoring it, the average response time was alarmingly slow, at three to four days. In the world of SaaS, especially B2B, this is detrimental. The window of a potential client's buying intent is brief, so immediate follow-ups post inquiry are crucial.

This firm was effectively draining $3,000 monthly on LinkedIn ads, with the majority of those leads evaporating. By the time their sales team reached out, most prospects had already scheduled demos with competitors. The lead-to-meeting conversion rate was abysmally low. The takeaway? Before pumping money into attracting leads, ensure there are no cracks in your process causing valuable prospects to slip away.

Want us to take a peek for funnel leaks? Schedule a free growth audit!