What a good Sales Funnel Means for Your Business13 February 2019
As we already know, online promotion and advertising opportunities today are enormous. The Internet has been open for new and creative ideas since day one.
It grew together with brands, individuals or businesses that were investing serious amounts of money and time to build their online presence.
So even today, the ultimate goal for all business owners and fellow marketers is to win a market game and make a lot of money. They still have to build the basics, like have a great and informative website and some Google presence, but selling products and services require some additional effort – like knowing how the process works.
We better focus the five following elements of a successful Sales Funnel and what it brings to your business.
Sales Funnel – why is it so important for businesses?
A Sales Funnel improves the effectiveness of your marketing strategy, by breaking it down into small but comprehensive pieces.
So instead of asking yourself repeatedly how to get more business, you can drill down your marketing strategy and look at each specific step people take before making a purchase.
The following steps in your Sales Funnel would be:
- Acquisition - generates initial interest through Google search, sites referrals or social media
- Engagement - where traffic becomes solid lead to a future relationship
- Retention - keeping up the connection with potential customers, those not yet ready to act immediately
- Revenue -turning as many inquiries as possible into a customer relationship
- Referrals - generating referral and repeat business into the future
Even giving the slightest attention to these aspects pulls out enormous opportunities that could give you a significant competitive advantage.
We are going to give a better look at these sections to find some important and useful tips that may apply to your business.
The acquisition means anything that brings people into the beginning of your sales funnel, which is your website.
There are a few ways to bring people to your website, but the most popular and effective are Search Engine Optimization (SEO), Google Ads (PPC) and Social Media.
When it comes to SEO, there is a thing or two you must consider including to your strategy – great user experience, good and informative content, and fast and responsive design. When we say good content, it couldn’t be effective without a properly conducted keyword strategy. We encourage our clients to focus on long-tail keywords, as they can be very profitable in the future. A well planned long-tail keyword strategy attracts traffic that consists of people who are seriously looking for the type of products and services that you sell. Long tail searches are so important nowadays because of the way people search on Google has changed in recent years. Now people just type whatever they want to know, and Google finds the website with the answer.
They don't have to think hard when they search. Your content, in order to capture the right kind of traffic, has to be structured around problems people have, and the questions they are asking.
If things are done right, you might easily:
- catch people who are genuinely interested in what you have to offer
- cast a much wider net in the search results
- increase your conversion rate
Other than appearing in Google’s organic search results you also need to think about a proper Google Ads strategy. There is soo much to say about any Google Ads campaign management, but one thing for is for sure – you should always keep on testing! Everything from angles to offers, your service or products’ specifics... emphasize everything good and look for the benefits.
Find out what your customers are really looking for so you can focus all of your marketing in that direction.
After taking the first step in bringing the potential customers to your website, the next step in your sales funnel is engagement. You mustn’t just sit and relax, after you crafted some of the greatest pieces of content, or even after sharing it through different channels.
Your serious prospects, those who are absolutely ready to buy your products and services are already hitting the BUY button. But what about those people who are still not convinced, still finding out, still not sure if they are ready to buy?
This is when you need to begin with the engagement process. Just imagine, if you are a dentist, you could offer a free download of:
- "5 things you need to know BEFORE you decide for dental implants, to stay within budget."
- “10 easily avoided (but very costly!) Dental care mistakes”
The craft of the trade is to offer something that has high perceived value. So, people you want to engage with are likely to think: “Awesome, I might need/want that”! Just be sure the first action steps are clearly articulated on your website. You need to tell them exactly what to do, to guide them through the whole process.
In order to access the information, they would have to give you their email address - and then you can begin the relationship.
When people inquire about a product but still aren't ready to hand over their money, always think long-term. Have a follow-up marketing strategy ready, to boost your credibility. Send them your success stories, tips, and tricks that could be really helpful for them at that point.
It will show that you care and that you understand their problem. Give them an opportunity to see that you can provide a good outcome for them. We can't stress enough the importance of thinking long-term. If you stay in touch with them, you’ll be the first one to think about when the time comes for them to buy. Remember -your competitors may not be doing this!
You can start counting your money but it’s not done just yet. When you think of the revenue, how many products or service you are about to sell - think long and hard about your customer service experience.
Businesses that understand customers’ problems and provide solutions will be much better off than those which just want to grab the money and run. So, why wouldn’t you ask your customers relevant questions, and make things as easy as possible for them? Maybe your services seem useful and lovely, but not that cheap, so why wouldn’t you offer to be bought in stages?
And the final step would be:
- Referral and repeat
If you give people a good shopping experience, they might consider advocating for you. There is no better effective advertisement for your business than a good ole’ word of mouth.
When we come to referrals it is best to be upfront. Before you close the deal or just before the purchase, why not ask your customer to get you in touch with 2 or 3 people they know who could benefit from your service or product?