The process of generating revenue is a multistep process, wherein you have to consistently make sure that you nurture the journey of your customer before they are ready to make their purchase. Nearly 34% of companies think that improving customer engagement is the way to increase sales.
A shoe salesperson for example is nurturing their customer when they enquire about their shoe size, show them different options in their choice, and help them try shoes on. The salesperson is giving you the support and the information that you need about all the shoes and the deals before you make your decision about the shoe that you want to buy. This is where a marketing funnel comes in.
If, you do not have a funnel in place, then keep reading for the best decision you can make for your business. Here is a complete guide to creating a funnel. Also, if you are looking to pursue an online program in sales & marketing, Emeritus can be the best platform.
Marketing Funnel 101
A marketing funnel, which is also referred to as a purchase or conversion funnel, is basically a map that a company lays out so that it can guide its potential customers from the first interaction that they make with the company to when they make their purchase. This roadmap generally consists of social media, paid ads, content marketing mix, SEO, and several different channels. Even though this concept seems simple, the conversion funnel can be extremely daunting for several reasons:
- There are different channels for a company to market its product and services.
- The customers might have different pain points.
- Every single customer that you market your service or product might have a different level of understanding and awareness about your brand.
Considering these variables, it is clear that it can be very complex to create a conversion funnel. An example of a conversion funnel is as follows:
- You have a blog post that 1,000 people read and of those 1,000 readers, some download a template and sign up for your email list. From these readers who have signed up for your email list, some might be converted from leads into customers.
- You have a Facebook ad that guides people to your landing page and then on your landing page, they find your products and services on display, which might lead to them converting into customers.
These are a couple of examples of conversion funnels. If you have a product or service marketed on the internet, then knowingly, or unknowingly, you have a conversion funnel in place. One thing to remember is that even if your conversion funnel looks easy on paper, it might not be as linear in real life. There are several setbacks and jumps as the potential customers actually follow your marketing mix funnel.
To be a master at creating a great marketing funnel, you might need to have a thorough knowledge of it. An online sales & marketing programme from Emeritus India can work wonders for this purpose.
Stages of The Funnel
If you’ve ever used a funnel to pour a liquid, then you know how a funnel works. Basically, it has different stages, which start from the broad or the top section of the funnel, which pulls in a lot of people, then moves on to a narrower or the middle stage, and finally into the narrowest or the bottom stage which is made up of the serious buyers only.
One thing about the marketing mix funnel is that as a brand, you have to look at it from the customers’ perspective. Doing this will help you in saving a lot of time and energy.
The aim at this stage is to recognize that you have an issue or a problem. The stage of awareness is the first stage in the process of buying. If you aren’t aware of a problem you face, then why would you try to get a solution for it?
The top of your conversion funnel aims at increasing the visibility of your brand and increasing brand awareness in the target audience. The top funnel is the brand’s chance to show off its authority in the industry. 28% of companies are looking to increase the number of leads that they are able to capture. This stage is an important step in this.
The audience in the top layer of the funnel isn’t quite ready to buy the brand’s product or service. They’re just considering, and it is the brand’s job to pull them in with their marketing management.
Generally, the second stage or the middle of the funnel is overlooked by those who are new to sales and offline or digital marketing. But, this stage is equally important as the rest of the two stages because, in this stage, you build the trust and the relationship between the customer and the brand. You get the customer interested enough to look at what you are offering.
The aim of the marketing management team at the middle of the funnel is to give so much value to the customer that they are willing to give you their contact information and allow you to nurture the relationship between the customer and the brand.
In the digital marketing business, the middle stage of the funnel can look like a free content piece that your prospective customers can get access to by signing up with their email addresses on your website.
In this last stage of the funnel, you already have a satisfactory level of trust and relationship with the leads, and you can now present your product or service to them. Your aim as the marketing management at this stage is to present your product in such a compelling light that your leads are inspired to take action. Your presentation of the product should convince the leads that your product is the only solution to their problems.
Sometimes in the digital marketing business, the third stage of the funnel looks like a limited-time offer for your service or product.
The act of creating a conversion funnel is basically creating an automated system that can move visitors down the funnel consistently.
To create a consistently effective conversion funnel, focus on one stage of the funnel at a time and pick a couple of tactics to focus on for each stage. These tactics will be responsible for building interest and awareness in the visitor.
After selecting your tactic, you need to create content as per each of those tactics and then use this content to connect and build a relationship with the customers. This content will help in converting these leads into customers that take action.
You can opt for Emeritus to better grasp and apply these concepts. Upskill today!