Create Robust Marketing Funnels to Double Your Profits
Due to the sheer amount of information available on the internet and its ease of accessibility, the information and the products people seek are always only one search away from the customers.
Having all of these options is great for customers but not for a marketer who wants to make a sale from his page. According to research, Google gets about 5.6 million searches per day. And according to Forbes, an average American is exposed to approximately 4000-1000 ads per day.
Despite the availability of all this information, people do not always end up purchasing from the website they seek information from. This is where Marketing funnels come in.
In this post, we will discuss what marketing funnels are, why are they important for your business, and how you can create marketing funnels in three simple steps to double your revenue and have more conversions.
What Is A Marketing Funnel?
A marketing funnel entails a series of steps each client must follow through before making a final purchase from your site. Usually, a customer goes through the following stages before finally converting and making a purchase:
- The customer searches for a product or query on Google
- The customer discovers your website
- The customer adds the desired product to his cart
- The customer proceeds to checkout to make the purchase
Why Should You Create Marketing Funnels?
Funnels allow you to pinpoint exactly the stage where the customers most frequently lose their interest in your business.
It allows you to see the roadblocks that keep them from completing the checkout process. They also help in organizing your marketing strategy so that you can obtain the best results from your marketing efforts. It allows you to identify the right marketing strategy to approach the right type of customer audience at the right place and at the right time.
This is why marketing funnels can also save you from investing too much of your time and other valuable resources, as they keep you focused on your target audience at all times and can be beneficial in improving your conversion rates and marketing ROI.
How to Create A Marketing Funnel In 3 Simple Steps?
Step 1: Understanding Your Target Audience
The initial most step in building a marketing funnel is to know and understand your targeted interest group. You should have a clear picture in mind regarding the type of prospects you need to target before you create a funnel to convert them into permanent customers.
Understanding your target customers can be by receiving direct feedback from your existing customers, conducting surveys, through social media or web analytics data.
The objective is to not only know who your target customers are but also understand how they interact with your business. Their online practices will assist you to decipher how you can structure your funnel and what stages you should add. For instance, you may have a site that gets a large portion of its traffic on your blog.
The next step would be to direct this traffic to the item or services pages. This implies that the blog will be a top-of-the-funnel strategy for you and CRO (transformation rate improvement) can be the following stage.
So, the initial phase in building a promoting channel is to see how your clients carry on the web and associate with your site so you can shape a venture map for your purchasers.
Step 2: Determining and applying the 4 stages of a marketing funnel
After you have understood how a typical buyer purchases your products, then you need to determine the different stages in your funnel. Eventually, your marketing funnel should guide your prospective clients in the right direction. Here are the three stages to create marketing funnels in the most effective manner:
Attention and discovery stage
This stage comes at the top of the funnel. This is the discovery stage at which your clients will make their first impressions regarding your brand as soon as they hear of it. Therefore, you need to construct a positive brand image so that clients can frame that initial feeling. There are two objectives at this stage:
1-To attract as many individuals as possible towards your brand and
2-To make them aware of the type of products and services you offer.
A few advertisers like to break this into two phases to make their funnel more precise and targeted. Remember that your aim at this stage is to get as many buyers as possible considering that the number will continue to diminish as they move towards the bottom of the funnel.
Interest or Consideration stage
This is the next stage where the consumer is already intrigued by your brand but is still considering whether or not he should make a purchase. At this point, you need to persuade your prospects that your items are superior to all the other alternatives presently available on the market.
Your focus at this stage should be to deliver as much information as possible about your brand to the customer. Knowing what separates your business from others and makes it unique will help them develop a purchase intent, or else they would simply leave and will start considering other options.
Action stage-at which the clients make their purchasing decision
At this stage, the client becomes a permanent member of your business ecosystem. This is the last phase in which you simply need to settle the negotiation and guarantee that your possibilities wind up making a buy.
Moreover, you need to make a valiant effort to multiply your sales. So, express your gratitude to clients for making the purchase, encourage them to give feedback on your products, and make yourself accessible for technical support, if necessary.
Post-purchasing or a loyalty-building stage for Client Retention
For many marketers, the marketing funnel ends with transforming a lead into a paying client. However, experienced marketers know that this notion is not entirely correct.
Any individual who has been in the business long enough can disclose to you that client maintenance is a higher priority than client obtaining. Rehash clients are considerably more beneficial over the long haul and, therefore, your funnel must incorporate a stage after the items have been purchased.
One post-buy stage is recommended by most marketers. So, emulate their example and have a client maintenance procedure set up, aside from your standard funnel.
Step 3: Promoting tactics to employ at each stage of the funnel
After you have figured out what stages your funnel ought to include, the subsequent stage is to sort out which promoting strategies to use at each stage.
Keep in mind, you can choose the length of your promoting channel as you consider fit, contingent upon your objective clients and once you have done that, you would then be able to ponder upon each stage in more detail. Several popular marketing tactics can be utilized at different stages of a marketing funnel.
To keep things simple, we have considered the three fundamental stages:
Top of the Funnel
Marketing techniques for this stage include:
- Social media marketing to expand the incoming traffic to your site
- Influencer marketing to promote the brand and gain more recognition
- Paid to publicize efforts to arrive at your intended interest group in a quick and precise way
- Blog entries and other important content to gain more traffic organically. Truth be told, approximately 73% of B2B marketers have discovered blog entries to be the most effective strategy in the beginning phases of a purchaser’s journey
- Search engine optimization methods are aimed at getting traffic to your site
- Recordings and podcasts are also an effective option for drawing in more prospective clients
- Giveaways and challenges are also a plausible method to gain more visibility for your online brand
Middle of the Funnel
This is the stage where your leads will either connect further with your content or they will simply leave. Some of the most famous promoting strategies that you can attempt at this stage are enlisted below:
- Product reviews and trial videos by influencers can be very powerful at this stage.
- Testimonials and case studies can be effective too as they demonstrate how previous clients benefitted from your items or services.
- User-generated content can provide social evidence and build a trustworthy brand image.
- Whitepapers and e-books can likewise help draw in individuals and secure purchaser intent
- Investing in CRO (conversion rate optimization) for your website can be useful to maintain client interest and to direct them to the correct item or administration pages.
Bottom of the Funnel
At this stage, only those leads are present who are committed to staying. All you need to do is give them a nudge in the right direction. Here are some strategies to help you close the arrangement at the bottom of the funnel.
- Offer discounts to urge individuals to purchase.
- Restricted time offers are known to be a successful deal procedure as they create a sense of urgency.
- Free items and demos are likewise a decent method to get individuals to select and begin utilizing your items before you request that they make a buy.
- Creating shortage and scarcity by informing when the stock is limited is additionally a procedure that has worked for some retailers.
Time to Put Your Knowledge to Test
Congratulations, now that we have reached the end of the article, you are now fully equipped with all the knowledge you need to create marketing funnels. You can refer to this article anytime you need.
But in case any confusions persist in your mind, you can always talk to our expert and friendly team of professionals at the Marketalist which provides premium digital marketing services in Boston to clients just like you. We would be more than happy to assist you in creating marketing funnels for your business so that you can get the most out of your marketing efforts.