The marketing umbrella is vast, and consists of multiple productive techniques. But an effective sales funnel is perhaps the most crucial component a business can utilize. In a literal sense, a sales funnel refers to the buying process a company will use to encourage customers to buy their products; hence, ‘funneling’ customers towards an end goal. Nowadays, a sales funnel is not only beneficial but also obligatory to the growth and survival of a successful business. In this article we’ll look at the various ways you can implement and improve yours.
Sales Funnel Stages
A sales funnel acts as a sales pipeline and consists of four stages, each with the intention of increasing sales output. Each stage is apt in description and more or less self-explanatory.
Use of various marketing and advertising tactics which brings customers to your website and into your click funnel.
Offer a range of items or services that have value to your audience.
Your relevant and up-to date content prepares your audience for a purchase.
Boost customer retention through continuous marketing obligations.
Know and Capture Your Target Audience
Be conscious of your market niche and build your audience around your identity. Knowing exactly who you are and whom you’re selling to creates a clear pathway and is crucial to an effective sales process. Successfully marketing to everybody is a utopian ideal – it’s unobtainable and regressive in the real world.
Use tools such as Google Analytics to monitor who exactly is visiting and engaging with your site. Make use of the following data to build an accurate portrayal of your customers and refine your marketing funnel:
- Time spent on particular pages.
- Where site visitors are clicking.
- How quickly visitors stay or leave.
Optimize Your Landing Page
It may seem obvious, but you can’t underestimate the value of an excellent landing page – so creating or optimizing one should be first on your agenda. A customer’s first impression of your business will come from their reaction to your landing page – ensure it’s the best reaction possible! Think of it as your inaugural chance to show off your professionalism and business acumen. Passing this test is the first step toward gaining new or repeat customers.
Optimizing your landing page is intrinsic to an influential sales strategy, as it will be your first opportunity to gain important contact information from potential customers. Be sure to make use of pop-up subscription lists and other simple lines of optional communication.
Generating traffic is an obligatory investment and necessary expense. Generating traffic is a case of spending money to make money, as it will more than likely create a return on marketing investment.
Unknown businesses are unsuccessful businesses. How do you expect to survive, particularly in a competitive market, If no one knows about your website or the products you offer? It’s business 101. Advertising through the various social media marketing channels, off-site SEO optimization and PPC campaigns cost money. It’s important to maximize output, so remember to spread your marketing efforts across a diverse range of mediums as opposed to using only one.
Present a Range of Viable Offers
When accessing clothing retailer The Chimp Store’s website, you are immediately presented with a front-end offer. As previously mentioned in the landing page section, they are following the appropriate steps to maximize the use of their landing page. Not only are they securing customer details through an optional subscription, they’re also increasing the customer’s interest and likelihood of purchase by offering a discount on any item they haven’t yet bought.
Proceed to upsell offer
Next you should present the opportunity to upsize or upsell your customer’s current purchase. Upselling an item inherently involves a more expensive service or product; therefore, a successful upsell benefits both the business and the customer. The business will generate more revenue from a single purchase and a customer receives an overall better product.
Offer downsize option
The reverse of an upsell would be to offer a downsize option. At face value, doing so would give the impression of poor business sense: why would a business actively want their customers to buy a cheaper alternative? A downsize offer builds trust with customers and will increase customer retention. Use this option in circumstances such as cart abandonment to entice back hesitant customers.
Finally, Keep in Touch!
Your online business should observe an overall increase in productivity after implementing the applicable marketing strategies. Like most aspects of business, creating an effective sales funnel is a continuous process. Be sure to keep in touch with your customers through email related marketing campaigns or a loyalty based rewards system to encourage customer retention.