Online Sales Funnel – one of the most crucial parts of your business and one that should be on your agenda on a weekly basis. Without marketing your business will eventually fail as you will not get new paying customers. Good thing with online sales funnel is that it can be automated for the most part. You build it once and then just update it when necessary. I call this #automagic and a first step towards passive online income.
For United/Optum, hospital services are not seen as something that adds much breadth to the top of the funnel or that draws people into the funnel—certainly not enough to justify Optum taking on the high fixed costs and poor pricing of inpatient care. Rather, hospitals are an additional interaction within the funnel that can be accomplished through partnerships rather than ownership, according to Wichmann. Those partnerships, he says, “will occur in markets where there is maybe fewer assets for us to accumulate and build from."
If you’re running a consulting business, for instance, your clients already realize that they’re having certain problems around your service area – like disorganized spending (if you’re in accounting) or a high cost per lead (if you’re in marketing). On the other hand, if you’re running a software development business, your client could be having problems with absolutely anything right from the hours being consumed to other factors that affect deliveries.
Getting this timing right prevents losing prospects by bombarding them with too much information or giving them the hard sell too early. This is why moving prospects through the funnel is often called “nurturing.” Seventy-eight percent of business buyers seek salespeople who act as trusted advisors with knowledge of their needs and industry. Prospects should ideally only receive the information and sales help they need when they need it.
If your new customers are greeted by a thoughtful onboarding process, personal attention and all the resources they need to use your product successfully, they’re more likely to confirm to themselves that they made the right choice. And when they’re confident, they’re more likely to pass on their satisfaction to others in the form of recommendations and product endorsements.
Time in stage – In an ideal world, your marketing content would be so compelling that people move from the top stage to the bottom stage in a single day. But since that’s rarely the case, it’s worthwhile to know if your prospects are getting hung up in one of your stages. If so, you’ll want to add more content to your site that answers the questions that are unique to this stage of the funnel.
No matter what kind of purchase customers are making or how much they plan on spending, all of them follow a fairly identical path when it comes to deciding what to buy. This process, or the different stages it is composed of, was first introduced by John Dewey in 1910, but even now — more than an entire century later — it still is the ultimate basis of comprehending buyer behavior and marketing funnel creation.
Exits from stage. The exits from stage metric is very similar to your time in stage metric, but it allows you to see how many potential customers you are completely losing in a particular stage. For example, if your potential clients spend a year on your email list before they buy (but most of them do eventually buy), that’s a time in stage problem. If people spend 5 days on your email list before they buy, but 98% of them unsubscribe within 5 days, that’s an exits from stage problem.
Exits from stage – Similarly, seeing an excessively high number of people falling out of a particular stage is an indication that you aren’t doing enough to answer their questions or you’re asking them for too much of a commitment too early. Add more content to give them the information they need to move forward or make it easier for people to convert (e.g. don’t ask for a phone number when they’re downloading a certain e-book).
For different types of businesses, buyer needs at the problem/need recognition stage – top of the funnel (TOFU) – are different. If you’re running a consulting business, for example, then your clients already realize that they’re having certain problems around your service area – like a high cost per lead (if you’re in marketing) or disorganized spending (if you’re in accounting).
Data insights are again the key to funnel optimization. Three other data-driven technologies follow analytics and sales reporting as the most popular sales tools: account and contact management (65%), sales forecasting tools (56%), and customer relationship management (CRM) systems (58%). The latter is a particularly crucial tool for optimization, enabling your business to organize all customer-related data in a central location.
For instance, if you’re selling marketing automation software to a startup, showcase a startup that 10X-ed their leads. If you’re selling the enterprise version of that marketing software, share a case study from another enterprise company. The enterprise case study is too aspirational for the startup, and the startup case study doesn’t work in front of a huge global marketing team.
Understanding the concept of marketing funnels is crucial for success in business because it’s a useful model for visualizing the customer’s journey from initial awareness all the way through conversion. When you design your marketing funnel with the help of these tips in a careful manner, it will, in turn, provide you with a useful framework through which you can analyze your business and identify areas that require improvement.
Social proof is the psychological idea that people determine what’s correct by finding out what other people think is correct. Customer reviews are 12x more trusted than descriptions that come from manufacturers. Social media is a powerful tool for creating social proof. Let the stories and experiences of your happy customers create converting content for you.
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There are email warming sequences that include things like personalized value-driven stories, tutorials and even soft pushes to webinars, and of course product suggestions that happen over days or even weeks. The truth is that most prospects won't buy from your website at first glance, especially if they're only just becoming aware of you today. It takes time. Thus, the funnel is a multi-modality process, as there are a variety of relationship-building experiences and "touches" that occur through several stages.