From the first contact with your company until the close of the sale, the sales funnel is a process that a potential customer goes through. A well thought out and optimized sales funnel is one of the most cost effect modes of marketing. It guides potential customers on their self discovery about your brand to eventual purchase. It is a low cost asset than continually provides returns over time.
Normally, a sales funnel is divided into 3 main sections: the funnel top, the funnel middle, and the funnel bottom.
In this post, we talk about the funnel in marketing, from the concept to its construction.
There are 5 stages within the 3 main sections of the funnel.
What is a Sales Funnel in Marketing?
Sales funnels in marketing are automated processes which can help businesses nurture leads to become buyers. Thus, increasing revenue and profits cheaply.
As its name suggests, imagine the shape of a “cone”. It is divided into stages that measure the number of visitors that are being generated on your website (top of the funnel) to those that make purchases (customers).
The methodology accompanying this whole concept is inbound marketing. It focuses on 5 main stages such as visitors, leads, qualifying, commitment and sales.
Funnel Marketing Strategy
1st stage of the Digital Marketing Funnel: Visitors
We know that to gain brand awareness and to start selling our products or services we must first attract our targeted audience to the company’s website.
For this, you can use several strategies such as optimized content (SEO), paid media ads, presence on social networks, participation in other websites (guest posts), etc.
At this stage, the website receives different types of visitors, from the curious to those who are already looking for a specific solution.
The goal is to move as many qualified visitors to the next stage of the funnel. This is known as your conversion rate.
Having good content on your blog is an excellent way to attract qualified visitors for all stages of the buying process. It also aids in your site being well-positioned in search engines like Google.
In addition, by generating interesting and relevant content, you develop credibility with your visitors.
If you continuously update your blog with interesting content about your niche, it will serve as a point of reference to the public.
It is important at this stage that you keep track of how many daily, weekly and monthly visitors you are generating on your website. This is why you must get a web design agency to install a tool that allows you to see:
- how many visitors are being attracted to your website;
- which are the pages that are generating income;
- the most visited content;
- the rate of return of visits;
- other indicators that are important to understand the behavior of the target audience.
This brings us to the next stage of the marketing funnel.
2nd stage of the Lead Generation Funnel: Leads
At this stage, we convert visitors to leads.
It refers to giving them incentives to leave their contact information with us for future correspondence.
Our landing pages will promote quality materials such as eBooks, videos, promotions, webinars, infographics, etc. In order to get them, visitors need to fill up a contact form with their details.
It is important to understand buyer psychology. In doing so, you will provide relevant content to guide your visitors along their journey with you.
At the lead generation phrase, your visitors don’t quite know you yet. It is best to only offer free or low priced items. If your “tripwire” product is interesting to them, they will provide their name, email, interests, phone number and other information that facilitate subsequent contact.
3rd stage of Online Marketing Funnel Marketing: Qualifying
The qualifying stage requires us to segment the leads collected previously.
This is the most critical stage of the sales funnel.
Continue building a relationship with your leads by providing good content that informs and educates them on your products and things that they should consider.
Through constant nurturing, your prospects will see the value of your product or service. They will start thinking of putting aside a budget for it.
You can do this by including videos or offering your customers webinars to attend.
People who watch the videos or attend the webinars to the end automatically qualify themselves to be high potential customers.
Thus, it is important to have the appropriate tracking tools on your web site for identifying which leads have done so.
4th stage of funnel marketing: Commitment
Having gone through your content, ebooks, webinar, videos etc, potential customers will see us as the authority in our field. You have provided information in a professional manner which suggests quality and focus on delivering high standards to clients.
Now, it is time for them to show you their commitment.
Ask them to show their trust to you by offering a low priced item. This could be a trial subscription to our service or a “starter” kit for them to try a small range of your products (eg make up).
Leads who buy the item show you that they are willing to part with money. They are not just looking out for freebies.
These committed buyers will continue with you to the final stage of your sales funnel.
5th stage of the funnel marketing strategy: Sales
The list of committed buyers is your most precious asset. These consist of customers who have passed through to the sales stage.
These are the buyers who by now, already know, like and trust you. They will confidently buy products and services that you offer.
Continue to nurture and serve them. They are the cornerstone of your business.
The customer perceives your brand and your product value highly. He will buy more frequently from you.
If you offer him relevant higher value products and other complementary products, the dollar value of each receipt will be bigger too.
Singapore Sales Funnel Marketing Agency
Continue leveraging your sales funnel by channeling more potential customers into it. This is most efficiently done via digital marketing.
You can consider avenues like SEO marketing, paid advertising, media partnering, social media marketing etc to drive high quality traffic into your funnel.
Analyse data from your digital sales funnel. This will help you optimize it and increase your conversion rates.
Once you have built a positive ROI (return on investment) sales funnel, it will continue providing you with profit at no additional cost.
The best part is that it is an automated process and because potential customers move through your funnel by themselves, there is no hard selling involved.
Now that you understand what goes on in sales funnels and how powerful this digital process can be, you understand why successful companies use them.
When done right, your business will enjoy the enhanced positive branding that comes through from the online sales funnel you deploy.
We, at Blazing Conversions Sales Funnel Marketing Agency, know that process of building, tracking and optimizing a sales funnel can be daunting for entrepreneurs. Thus, we have a dedicated team to work with you to build this important revenue generating asset.