Funnel Analysis Worksheet: Evaluate, Optimize, and Grow Your Payroll GTM Funnel

🔝 Top of Funnel (TOFU): Awareness & Lead Generation

• Where are most of your current payroll leads coming from?

• Which channels consistently convert into meetings or trials?

• Which channels are underperforming or untested?
• Examples to consider:
• Cold outbound (email/phone)
• Website traffic (organic/paid)
• Partner referrals (e.g., accountants)
• Events/trade shows
• Social media content

• Have you explored building a CPA referral channel, where legacy players (ADP, Paychex) drive over 50% of their leads?

• Do you have any existing relationships with CPAs that could be activated?

• What videos or content pieces (e.g., webinars, explainers, LinkedIn posts) have had the most engagement or best click-through rate?

• Have you experimented with short-form video (e.g., TikTok, Instagram reels, YouTube Shorts) to reach Micro SMBs or VSBs?

• Live webinars or on-demand content for target verticals

• Joint content with other vendors (time tracking, benefits, etc.)

• Client testimonial campaigns with video/email

• Micro-campaigns timed to seasonal compliance issues (e.g., W2s in Jan)

➗ Middle of Funnel (MOFU): Education & Evaluation

Separate by Sales-led, Product-led, and Shared

🧑‍💼 Sales-led Motions

• Are your sales reps following a standardized demo workflow?

• Do reps document key pain points in the CRM before and after demo?

• Do you have an interactive demo environment? What feedback have you received from the sales team on the current materials?

• Do reps know how to tailor messaging by segment? (e.g., 1–10 EE vs. 50–150 EE)

• Do you include cross-sell messaging for workers comp, 401k, benefits when relevant?

🧪 Product-led Motions

• Where in your PLG flow (signup → activation → trial usage) do you see the most drop-off?

• Do you offer continuous value-hook moments during the trial?

Examples:

• Pre-loaded test payrolls
• Tooltips explaining features
• Post-signup SMS/email tips
• “Calculate your payroll savings” overlays

• Are you prompting users at key moments with optional human outreach (chat/email)?

🔁 Shared

• What is your no-show or drop-off reengagement strategy for:
• Missed sales demos
• Inactive product signups

• Do you have automated or manual follow-up sequences?

• How are you tracking your most common objections?
• Do you categorize them (e.g., price, integrations, timing)?
• Are they shared regularly with the product and marketing teams?

🔚 Bottom of Funnel (BOFU): Closing & Post-Sale Conversion

• When prospects express intent to move forward (verbal “yes”), where do you see the most drop-off?
• Before signing contract?
• Before running first payroll?
• After onboarding call?

• What is your current demo-to-first payroll run rate?

• What steps are you taking to ensure onboarding follow-through?
• Dedicated onboarding team?
• Automated checklists?
• "Win-back" flows if they ghost?

• Are you collecting closed-lost reasons in a structured way?

• Do you regularly review these with Product to guide roadmap decisions?

• When product gaps are addressed, do you have a reengagement system in place to reach out to those prospects?

Example:

If a prospect churned because you didn’t support tip allocation—and that feature just launched—do you alert reps with a list of accounts to revive?

📊 Worksheet Output