Top of Funnel vs Bottom of Funnel: Which Do You Need to Focus On

Are you struggling to gain leads?

What about conversions? Are they looking sluggish?

If you're noticing gaps in your marketing efforts, you probably have an issue somewhere in your marketing funnel. But the bigger problem is whether or not it's coming from the top of the funnel or the bottom.

When you throw everything you've got at the wrong end of the funnel, you end up diluting your marketing efforts and wasting time and money.

Not sure which end to look at? Here's how to figure out if you have a top-of-funnel or bottom-of-funnel problem and what to do about it.

Top of Funnel Problem: Your Online Inquiries Are Decreasing

If your online inquiries are on the decline or were never all that great to begin with, you have a top-of-funnel problem.

Lack of online traffic is a common issue for any multifamily business, but it doesn't have to derail your marketing efforts. You need a new strategy and a more significant push to turn it around.

💡Consider launching a PPC campaign or tweaking the one you have to make "website conversions" one of your KPIs.

💡Post your rent specials or new amenities, like a new dog park or updated fitness center, on your social media channels or create a giveaway contest.

💡Create more keyword-optimized blog content or audit your website copy Make sure you're using keywords and phrases that people are actually looking for in the top of the funnel.

If your lead to tour and lead to lease ratios are good but you aren’t getting that many leads, this could be a top of funnel problem.

Top of Funnel Problem: People Aren't Engaging Through Your Google My Business Profile

Google My Business is a powerful tool to help improve your SEO and attract more residents. But it's not enough to just complete your profile and hope for the best; you also need a strategy to keep people engaging with your content.

When you crush your Google My Business Profile, you can raise awareness, leads, and conversions. Studies show that when people take action with your profile, it breaks down like this:

• 56% visiting websites
• 24% make calls to the business
• 20% request directions

Here's how to fix it:

• If you haven't already, thoroughly fill out every part of your Google My Business Profile.
• Add professional photos and videos of your community to your profile page.
• Ask questions within your community's profile page, including "What is the pet policy for [YOUR COMMUNITY NAME]?
• By asking and answering your own questions, you're ultimately creating a convenient FAQ for prospective residents. They’re more likely to stay on your profile page for longer, take more action, and trigger conversions.

GBP is a common top of funnel traffic source. If you’re not getting much engagement, it could be a sign your Top of Funnel needs more attention.

Bottom of Funnel Problem: There's a Decrease in New Apartment Applications

By the time someone wants to fill out an apartment application, they should be at the bottom of your marketing funnel.

Sure, fixing the top of your funnel could help improve lead generations that trickle down your funnel over time.

But it doesn't address your current problem of needing more applications landing on your desk.

Offering a limited-time rent discount, waived application fee, or no pet deposit could help entice more applications. But instead of guessing what triggers someone to submit a rental application, dig into your data and focus on what's already working.

• Do they usually engage with an ad with your community pricing?
• Do they attend an open house?
• Do they walk in after work and ask to speak to a leasing agent?

There’s a reason you can't fix this issue with the top of your marketing funnel:

Truth 💣: People at the top of your funnel could be casual surfers. They may not love where they're living right now, but if their lease isn't up for a few months. Instead, they’re just poking around online looking for new communities.

It’s true those lurkers can turn into potential leads and end up at the bottom of your funnel later. But right now, they're not ready to convert.

Seeing tons of leads but very few applications? Consider digging into your bottom of funnel, and lead nurturing processes.

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Bottom of Funnel Problem: New Prospects Aren't Frequently Scheduling Tours

Just like your rental applications, a lack of apartment tours is also a bottom-of-the-funnel problem.

Start by asking your leasing agents when they get the most requests for apartment tours. You may need to:

• Schedule a community event.
• Transform your open house into a VIP event.
• Leverage geofencing to piggyback onto local festivals or annual events and attract potential residents.
• Run ads in a circular distributed at the local subway station or commuter line

near your community.

The goal is to get people in the door to physically see your community, not just ask questions online or look at your photos.

Ask yourself - how are we currently enticing leads to tour in person? What can we do better?

Bottom of Funnel Problem: Fewer People Are Walking in and Asking About Rent Specials

You want everyone at the bottom of your funnel to rave about your rent specials and show up in droves to sign-up. Rent specials should create urgency, to entice people to act NOW.

But how?

👉 Ask prospective residents for new referrals who are ready to move.

Of course, this tactic can also work to beef up the top of your funnel for someone who wants to move in a few months, but the goal is to find people motivated to sign a lease right now.

👉 Supercharge your PPC ad copy.

Make sure to include information about rent specials and heighten the sense of urgency around it being a limited-time deal.

👉 Call people who took a community tour in the last few weeks.

Let them know you're running a last-minute rent special to entice them to come by and take one more look.

At the end of the day, both your top-of-funnel and bottom-of-funnel should work together to maximize your marketing efforts.

As you gain new leads, they move down your funnel and are ready to convert. Just make sure you're addressing any gaps with the right funnel in mind.

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