Unfortunately, the reason why we call it a marketing funnel instead of a marketing journey or marketing waterfall is that not everyone who enters your funnel will end up buying. At each stage in the buying process, you lose some potential customers, but a good marketing funnel will keep those losses to a minimum and produce the maximum number of sales from your marketing.
The best part of the traditional sales funnel was that salespeople could move prospects through at their own pace based on their needs to close a deal. Today, customers are in control of the sales process. A modern buyer spends more time upfront researching a purchase before they engage with a salesperson, reducing the value of sharing information.
“Aligning marketing and sales during the sales funnel does more than just align the teams — it creates better business outcomes,” said Mathew Sweezey, Principal of Marketing Insights at Salesforce. His stance is validated by a SiriusDecisions study that found brands with tightly aligned sales and marketing operations achieve 24% faster three-year revenue growth and 27% faster three-year profit growth. The three easiest ways to ensure marketing and sales alignment will succeed is a common language, co-created shared programs, and a policy to abide by a service level agreement.
Of course, regardless of how they enter into your funnel, your goal as a marketer is to move them through the multiple stages that will take them from prospect to buyer. And once they're aware of you, you need to build their interest. To do this, you need to establish a relationship with the customer. You might have enticed them with a great offer (lead magnet) to grab their email address, but actually moving them through the funnel is a far greater challenge.
In our Teachinguide survey, online instructors ranked marketing courses as one of the top challenges they face. In previous articles we’ve begun addressing this issue by providing some tips on various marketing tactics. That said, apart from creating great course content, the # 1 marketing activity that you should spend your time on is creating your online course sales funnel. Course coupons and/or a blog alone won’t drive people to enroll in your course in droves.
On the contrary, if your new customers are welcomed by a thoughtful onboarding process, personal attention and are educated about all the resources they are going to be needing 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 product endorsements and recommendations. This further leads to increased brand advocacy.
Once the prospect is in the proverbial funnel, you've peaked their awareness. That's the first stage of the funnel. However, getting a prospect aware of you is no simple feat. Depending upon how they've arrived to your website (organically or through a paid ad), those customers might view your funnel differently and your opt-in rates will vary significantly.