Understanding Sales Funnels

Every business owner is constantly searching for ways to boost their visibility and sales. One way to achieve this is through marketing or sales funnels. If you need the sales process of your business to run efficiently, then utilizing the different marketing funnels will be a great idea.

A marketing funnel refers to different methods of breaking down the customer experience and journey from the first stage which is the awareness stage down to the buying stage. Funnels also include follow-ups that happen after purchases to increase retention and more sales.

When you are looking to set up a marketing funnel, you may need to read expert reviews to see the best approach to use. For instance, reading material like Groovefunnels review will educate you on the different marketing funnels businesses can use and how to make them efficient. 

To boost your understanding of this business feature, we have discussed some useful tips. You will find them below.

Stages of the Sales Funnel 

The following are some stages that are involved in this business feature:

Awareness

The awareness stage is usually the first point in the customer relationship. It is the point when your business attracts the attention of a customer. It could be a Facebook post, a tweet, or a simple Google search. It can also be an unrelated article, but it captures their attention in a way that prompts them to patronize your business.

Interest

The interest stage involves research by the customer. During this period, they compare the quality of the product or service with the price at which it is being offered to know the best step to take. They also consider other available options and act based on their findings. 

It is at this point that you will come up with nice content that assists them with their findings but not in a commercial way. Pushing a service or product from the start is a huge turn-off to most prospective customers and this can chase them away. 

Decision

This stage is determined by the customer’s resolve to buy. They may be considering several options at this point including you and this presents you with the opportunity to come up with your best offers. For instance, you can include free shipping if you discover your competitors have delivery charges. 

You can also come up with discount codes, bonuses, and other incentives to make your product unique and irresistible.

Action

This is the last stage in the sales funnel. It is the point when the customer purchases the product and consequently becomes a part of the business production line. However, a customer buying your product does not mean you should relent. This because there is more work to be done to convert a few purchases to more purchases and increase the consumption line.

Practically, the goal here is customer retention as you do not want to lose them to other competitors. Remember to show gratitude upon every purchase, organize promotions, and use every available tech support to reach out to customers.

If you need other tips on how to get new customers, you can read this article.

How Does a Sales Funnel Work?

Here is a good example of what a sales funnel entail:

Let us say you run an E-commerce establishment that handles the sale of vintage signs. Your target market or audience will be frequent Facebook users who fall within the age bracket of 25 and 65. With this, you will run a good Facebook advertisement that will drive traffic down to your landing page. 

On this landing page, you will request prospects to register for an email list that turns into a lead magnet. With this, you have access to leads and not prospects anymore as they are advancing through the sales funnel.

After this, you will start sending out incredible content to enlighten subscribers about your business (vintage signs). Some of the content you will share may include tips on how customers can hang vintage signs as well as design inspiration for different spaces.

Before you conclude the email, you will make an offer especially for customers placing an order for the first time. You will be surprised by the number of sales you will record within a short while as the interest will take a giant leap.

The next step will be to include these customers in a freshly created email list. Initiate the process again but this time with creative and entirely different content. Supply them with ideas for different kinds of gallery walls. You can also give them maintenance tips for the signs as well as some suggestions to use as souvenirs. Doing this has a way of making them request for more.

In simpler terms, the following is what you have achieved:

Awareness: With the Facebook ad you create, prospects are funneled to your landing page.

Interest: You make an offer in exchange for a lead magnet.

Decision: With your content, you have informed your audience as well as prepared them to patronize your business.

Action: Here, an irresistible offer is made, and a marketing strategy follows suit in a way that your leads will retain effectively.

How to Successfully Build a Sales Funnel 

The following are some strategies required:

Analyze Audience Behavior 

Getting more information about your target audience makes the sales funnel become more effective. Remember that you are not targeting everybody but a select audience that will patronize your business. You need to know information such as where prospects click, when they scroll, and how long they spend navigating a page. All this information helps you to understand the audience and buyer personas.

Capture Audience Attention

This is very important as the sales funnel can only function when people are lured into it. With this, your content is everywhere and in the face of your audience. You can also run a few advertisements to achieve this.

Build a Website or Landing Page

The ad needs to lead your prospects to a destination. Ideally, this should be a landing page with irresistible offers. On this page, you need to have a significant call to action that guides prospects on the appropriate steps to take.

Other steps will include:

Creating an email campaign that you will use to send out amazing content to your leads and keeping in touch.

Conclusion

Sales funnels provide an avenue for business needs that have to do with publicity and sales generation. However, it takes time to create and optimize for effective results. With a good team handling your sales funnel, you will record success with this business feature.