How Solving Funnel-First Helps
B2B Founders achieve Product-Market-Fit Faster
A successful product is a succession of successful funnels, ranging from acquisition, conversion to rentention.
What is a Funnel ?
Funnel Noun.
fun-nel
A model that visualises the customer journey from initial awareness to final purchase. It typically includes stages such as awareness, interest, consideration, and decision.
5 Reasons Why You Should Solve Funnel-First before solving for Product-Market-Fit
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1.
Market-Message Resonance
The funnel helps determine if there is a market-message resonance by turning traffic into leads and then customers. If the funnel converts well, it indicates that the message resonates with the target audience. This ensures that the product addresses a real need or desire in the market before significant resources are spent on product development.
2.
Validation of Key Metrics
Building and optimising funnels first allows for the validation of key metrics and the business unit case by testing the market's response to their value proposition, pricing, and messaging. This process helps to identify the cost per lead, CAC, conversion rates, and CLTV in a real-world setting.
3.
Sell before you Fully-Build
Developing a product is resource-intensive. Without validation, there's a risk of creating something that no one wants, leading to wasted time and money. Funnels allow founders to test their hypotheses with minimal investment, ensuring they are solving a real problem before committing significant resources to product development.
4.
Iterative Improvement
Funnels enable an iterative approach to learning about the market. By interacting with potential customers through marketing and sales funnels, founders can gather feedback and refine their value proposition, messaging, and product concept based on real-world data and responses.
5.
Find Co-design partners & Collect Case Studies
Through funnels, founders can pinpoint early adopters and
and potential customers that show strong interest and are willing to collaborate on refining the product. These co-design partners feedback allows rapid iterations and help build solid Case Studies.
What's Funnel-Pivoting ?
Funnel-pivoting present participle
fun-nel pi-voting
The art of iterating to find the right process improving each stage of the customer journey to increase conversions and sales. It involves analysing and enhancing touchpoints to ensure more potential customers progress through the funnel effectively.
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What are these Succession of Funnels, we can help you with ?
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Acquisition Funnel
This is where potential users first come into contact with your product or service through various channels like social media, advertisements, or search engine results. The funnel narrows as some of these users decide to visit your website or download your app.
Conversion Funnel
At this stage, you focus on the initial user experience. It's about converting the visitors into active users by prompting them to take a significant action such as signing up, making a first purchase, or completing a profile. The funnel narrows further as a subset of those who were acquired take these actions.
Retention Funnel
This funnel tracks how many of the activated users continue to use the product or service over time. The idea is to see the proportion of users who come back after their initial experience. It narrows as users drop off and cease to engage with the product.
Revenue Funnel
Here, you look at how many of the retained users go on to generate revenue for your business. This could be through purchases, subscriptions, or any other revenue-generating actions. The funnel narrows based on how many users contribute to your revenue streams.
Referral Funnel
Finally, this funnel captures how many of your satisfied customers refer new users to your business. It tracks referrals and how these lead to new acquisitions, thus potentially starting the cycle anew.
How Do We Achieve That ?
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Event Tracking
We analyse each step blabla
Funnel Analytics
Before building the funnel, it's essential to validate the price at which the solution is sold (p(t)), the cost to fulfill (c_f), and the time to fulfill (t_f). This results in a contribution before marketing value. The funnel then helps validate the cost to generate a lead (c_m) and the time to generate a lead (t_m), ensuring the business model is financially viable.
A/B Testing and Experimentation
A well-constructed funnel provides a systematic way to scale marketing efforts. It helps identify the most efficient ways to acquire and convert leads, ensuring the scalability of the business. Funnels are built to optimize the process of turning traffic into customers, making the business more efficient in its marketing and sales efforts.
Cohort Analysis
Building a product without first ensuring there is a demand for it can lead to wasted resources. By validating demand through a funnel, businesses can avoid the risk of developing a product that does not meet market needs. Funnel building can be expensive and time-consuming, so doing it before the product ensures that resources are allocated efficiently.
Retention Analysis
Entrepreneurs who can build and test funnels quickly can gain a competitive advantage by iterating based on market feedback faster than competitors. This allows them to find market-message resonance and product-market fit more rapidly, which is crucial for staying ahead in the market.
Retention Analysis
Entrepreneurs who can build and test funnels quickly can gain a competitive advantage by iterating based on market feedback faster than competitors. This allows them to find market-message resonance and product-market fit more rapidly, which is crucial for staying ahead in the market.
Download Our Resources
We Love Sharing Our Recipes. Feel free to download, use them and thank us later.
B2B Acquisition Metrics
Entrepreneurs who can build and test funnels quickly can gain a competitive advantage by iterating based on market feedback faster than competitors. This allows them to find market-message resonance and product-market fit more rapidly, which is crucial for staying ahead in the market.
Sample Size Calculator
Use our template to calculate the necessary sample size to achieve 95% confidence based on your current conversion rate and desired outcome.
Statistical Significance Calculator
We analyse each step blabla
Chi Square Calculator
Download our Chi-Square Calculator to determine if the applied recipe influences conversion. It measures the difference between actual counts and those expected if there were no relationship.
Funnel Analysis
Building a product without first ensuring there is a demand for it can lead to wasted resources. By validating demand through a funnel, businesses can avoid the risk of developing a product that does not meet market needs. Funnel building can be expensive and time-consuming, so doing it before the product ensures that resources are allocated efficiently.
Cohort Analysis
Entrepreneurs who can build and test funnels quickly can gain a competitive advantage by iterating based on market feedback faster than competitors. This allows them to find market-message resonance and product-market fit more rapidly, which is crucial for staying ahead in the market.
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A Little About Us
I’m Abdel, the founder of Funnel Pivot. I’ve spent the past 4 years obsessing over creating the right approach t solve for Product Market Fit. It wasn't a success all the time. But I learned a tons. Now only want I should have done, but also what I shouldn't have done. I started this agency to help Founders with all these "mundane" tasks while they are focusing on the vision and getting the money into the business. We do this by architecting a funnel that maximizes the amount of your traffic saying "I need this!" We have no long-term contracts, so if we don’t perform you can stop paying us. We win when you win. That’s the way we like it.
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Frequently Asked Questions
Answers to the questions we get often
Do you also tackle B2C products
No, our focus is mainly on B2B. This is where we have experience
What Metrics will you help me optimise
DAU etc..
What Is a Sample Size for A/B Testing?
A sample size refers to the number of observations included in a statistical sample. Selecting the appropriate sample size for your A/B testing is crucial to obtaining accurate data insights and ensuring that pages don't underperform due to small or unequal sample sizes.
Can You Run A/B Tests with Small Sample Sizes?
Yes, you can run A/B tests with small sample sizes, as long as you take into account the following three factors:
- Desired lift
- Tolerance for risk
- Current conversion rate
These aspects should be considered for each A/B test, especially when working with small sample sizes.
What is a Z-Score?
A z-score is a standardized measure indicating how many standard deviations an element is from the mean. In A/B testing, each visitor represents an observation. The Control experience forms one bell curve, while the Variant Recipe and its visitors form a second bell curve. The Z-score calculator is used to determine the distance between the center of the Variant bell curve and the center of the Control bell curve.
Is My Test One-Sided or Two-Sided?
We usually recommend two-sided tests. Conducting a two-sided hypothesis test provides mathematical confidence in determining whether your Variant Recipe is either better or worse than your Control Recipe. In contrast, a one-sided test only gives confidence in one direction, not both. We believe it's equally important to know if your test is statistically underperforming as it is to know if it is outperforming the Control.
What Does My Confidence Level Mean for My Business?
Z-scores are associated with confidence levels. For example, in a two-sided test, a z-score of 1.96 indicates that you are 95% confident the Variant Recipe differs from the Control Recipe. If you implement this Variant Recipe, there is only a one in 20 chance that you won't observe an improvement.
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