Customer acquisition costs (CAC) keep rising while churn rates go up and revenues per account go down (Customergauge, 2024) . Scaling lead generation can feel like an uphill battle. Building trust with prospects who are hesitant to switch financial tools? That’s a challenge you face every day. And then, of course, there’s the constant pressure to improve conversion rates without inflating costs.
You might wonder: are we guiding prospects effectively through the funnel? Are we focusing on the right areas? More importantly, are we maximizing revenue, not just conversions or traffic?
In this article, I’ll share a full-funnel approach I’ve refined over years of partnering with fintech, finance, and software businesses. This strategy ensures you’re leading prospects through each stage of the journey—while keeping revenue as the ultimate goal. If you’re ready to take on those common growth challenges with clarity and purpose, keep reading.
In finance and accounting SaaS, growth doesn’t just happen. It takes a nuanced understanding of your customers’ journey. Traffic alone isn’t enough. You need to guide your audience from awareness to action—driving real, measurable outcomes.
Through my full-funnel approach, I map campaigns to audience awareness, ensuring every effort focuses on meaningful results. The end game? Revenue, not just leads.
Five stages of awareness
Your audience’s needs evolve as they move through the funnel. Understanding where they are in their awareness journey is key, based on Eugene Schwartz’s stages of awareness:
- Unaware – They don’t realize they have a problem.
- Problem Aware – They recognize the problem but don’t know the solution.
- Solution Aware – They’re aware of possible solutions but haven’t committed to one.
- Product Aware – They’re considering your product as a solution.
- Most Aware – They’re ready to convert.
Your message needs to match the moment:
- Cold Traffic: Speak to those who are unaware or problem aware.
- Warm Traffic: Engage solution and product-aware audiences.
- Hot Traffic: Convert those who are most aware.
By delivering the right content at the right time, you create a seamless path from awareness to purchase.
Expert tip: use ChatGPT to get to know your audience. Create a first draft by ChatGPT as this drastically reduces time to completion compared to doing it manually. Make sure to fact check all findings to validate the report.
Create content that aims to help the consumer to make purchasing decisions
Content must hit the mark. At every stage, you’re answering specific questions your audience has, whether they’re still discovering their problem or comparing solutions.
- Unaware: Educate them. Share articles or social posts about industry issues, like “Are You Losing Money to Poor Financial Management?”
- Problem Aware: Provide solutions to common challenges through case studies or white papers. For example, “How to Fix Financial Reporting Issues” resonates here.
- Solution Aware: Share comparison guides, webinars, or product demos. Content like “How Automation Tools Can Save Finance Teams 10+ Hours a Week” can move them closer to a decision.
- Product Aware: Highlight what makes your product stand out. Use testimonials, product walkthroughs, or customer success stories. “Why 500+ Accounting Firms Trust Our Software” could be the tipping point.
- Most Aware: Seal the deal with free trials, demos, or client testimonials. For example, “Import your bank statements and get started right away (we support all regular filetypes e.g.: MT940 or CAMT.053 files)
Your goal is to meet their specific needs and eliminate any uncertainty that might delay their decision.
Build trust by showing successes
Once you’ve captured interest, the next step is nurturing that relationship. Consistency across every touchpoint builds trust. Whether through follow-up emails, retargeting ads, or on-site messaging, you reinforce the value of your solution.
You build trust by:
- Sharing success stories from clients in similar positions
- Demonstrating measurable results (e.g., how your software improved financial reporting accuracy)
- Continuing to provide educational, value-driven content
Remember, in finance and accounting, SaaS purchases are rarely impulse buys. Prospects need reassurance. The more consistently you deliver that, the closer you’ll get to conversion.
Conversion and revenue: turning leads into customers
When prospects are ready to convert, your job isn’t done yet. It’s not enough to get them to sign up—you need to ensure that cash is collected. Every step up to this point has been in service of that final outcome: real, banked revenue.
To ensure smooth conversions:
- Retargeting Campaigns: Use retargeting to remind engaged prospects who haven’t yet converted.
- Clear CTAs: Make your calls to action simple and direct—“Start Your Free Trial” or “Book a Demo” should be easy to find and act upon.
- Personalized Offers: Tailor your offers or demos to fit their needs. Whether through custom pricing or feature walkthroughs, make it personal to seal the deal.
But no conversion is complete until the payment is processed. Streamline your payment process with automated billing or flexible options. The goal isn’t just to convert—it’s to get paid.
Tracking what matters: CAC, CPA, and Revenue
Measuring success means tracking the right metrics:
- Cost per Acquisition (CPA): How much does it cost to acquire a customer?
- Customer Acquisition Cost (CAC): What’s the total cost of turning a lead into a paying customer?
But, above all, track cash collected. Your funnel isn’t truly optimized until it delivers real revenue. Tracking revenue gives you the clearest view of how well your strategy is converting leads into paying customers.
A full-funnel approach ensures you’re guiding prospects at every stage, from initial awareness to final purchase. By mapping campaigns to their awareness level and delivering content that aligns with their needs, you’ll build trust, foster engagement, and, most importantly, convert leads into paying customers.
But remember, cash collected is king. The real measure of success isn’t in clicks or sign-ups—it’s in revenue. By optimizing your funnel with that goal in mind, you’ll see the true value of your marketing efforts.
If you’re ready to implement a full-funnel strategy that drives growth and increases revenue, let’s talk. Together, we can build a system that works for your SaaS business.
