Most prospects will look to enter this stage after identifying your offering as a possible solution and completing the information search process described in the earlier stage. However, some customers might be introduced to your brand after completing Stage 2 with your competitors, as in the case of an industry blog running a comparison chart of the different competitors in your space.
The questions have intensified with two recent announcements. UnitedHealth Group CEO David Wichmann said that Optum plans to grow from $16 billion to $100 billion annual revenue by 2028, and will do that without building any hospitals. A few days later, CVS announced that it would expand its three-store HealthHUB pilot into 1,500 locations by 2021. HealthHUB is CVS’s in-store health and primary-care experience.
We’ve all received automated emails (like the one that provided a link to this blog post!), multiple times a day when we forgot to uncheck the box. You’ll need to join the ranks of these knowing marketers by adopting an automated email system to build your list of subscribers and people you wish to market to. These systems are typically very easy to use and set up and allow you to segment your audience lists and more. Get to know yours intimately.
Molly might conclude that anybody who fills out her online demonstration request form is an MQL. Another company might set the bar to MQL qualification at something involving a combination of viewing specific pages, interacting with certain forms, and opening a certain number of email messages. For that kind of analysis, we recommend marketing automation software.
“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.
The idea is to condition your users. Don’t push towards selling only your products, make it a point to create comfortability with users thus allowing a relationship to form. Make contents that are relevant, timely, and tends to help users. Or engage in creating games or mini games so your site or page could be deemed as not only informative but also engaging in a good way.
In brief, we are inclined to go along with someone’s suggestion if we think that person is a credible expert (authority), if we regard him or her as a trusted friend (liking), if we feel we owe them one (reciprocity), or if doing so will be consistent with our beliefs or prior commitments (consistency). We are also inclined to make choices that we think are popular (consensus [social proof]), and that will net us a scarce commodity (scarcity).
However, collectively, they do represent the many activities that you should be working on everyday to get your course sales funnel up and running. What that process looks like will depend very much on your existing knowledge of and execution on these components, your financial and personal motivations, time, talent and more. No matter what, you want to be working on as many of these bits as possible to get those conversions.
The entrance to the CVS funnel combines a massive physical footprint with a growing digital presence. CVS has about 10,000 retail stores. Eighty percent of Americans live within 10 miles of a CVS store. With the expansion of CVS’s HealthHUBs to 1,500 locations, one analysis suggests that 75 percent of Americans would live within 10 miles of a HealthHUB. In addition, CVS/Aetna has access to about 18 million Aetna medical insurance members in all 50 states. On the digital front, CVS has 62 million loyalty program members whose purchasing patterns can be tracked and who can be the target of tailored promotions.
Content piece engagement rate – If you have calls to action on multiple blog posts or other onsite content pieces, you’ll want to know which are sending the most converted customers through your funnel so that you can replicate your success by upgrading/updating that piece of content, sending paid traffic to that blog post, promoting it via email, and/or creating more content pieces like that. Tracking engagement rates on each CTA will give you this information (you can easily set up Google Analytics goals in order to see which posts drive more conversions).
However, the best part about this, and the most powerful route that entrepreneurs take to scale their businesses, is that if you know that sending 100 people to your site costs you $200, for example, but you get two people to convert at $300 each, then you have a $600 return on $200 invested (300 percent). When you know that, that's when the entire game changes and you can infinitely scale your offers.
As a side note, while getting negative feedback rarely feels good, I want to encourage you to view feedback the way I do: as a priceless opportunity to improve and grow your business. Complaints and criticisms give you important signals that you need to make changes or else risk losing business from frustrated customers. Read this article to learn more: What Should You Do When People Complain About Your Product or Service?
An exit pop-up. This is a powerful way of redirecting prospects who seem intent on, well… exiting off of the page. Sometimes that pop-up may contain a special deal and other times it may re-communicate the benefits of what’s on the page. We’ve found that using lead magnet exit pop-ups (as on the template above) is one of the best ways to keep traffic flowing into your funnel.
One quick word of caution, though. With every piece of content you create for every stage of your funnel, you’re generating data. Though all of it is useful to your sales process in some way, it’s easy to get bogged down in data and metrics tracking instead of focusing on the few key performance indicators (KPIs) that will actually give you the information needed to make meaningful improvements.
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.
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.
While everyone evaluates their options at this stage in the buying process, how carefully they evaluate their options depends a lot on their personality and the cost of the solution. Generally speaking, the more financially conservative your target audience is and expensive your solution is, the more comparison shopping your potential buyers will do.
Well, that all depends on how busy you’ve already been putting together the pieces of your course marketing plan. If you’re just getting started there’s is work to be done! However, if you have already started on putting pieces together such as building out a blog, creating a Facebook topic group, educating yourself on Facebook ads, and generally building a contact list and social following, then it’s just a matter of systematizing and optimizing your online course sales funnel.
Principle of commitment & consistency -- When people commit to something, they're far more likely to purchase from you. That's why getting them to agree to something like a free + shipping offer or by agreeing with something you've said in some way. This is a powerful principle in sales and if you pay attention to some of the best marketers in the world, you'll notice that they work fervently to get your commitment to something, even if it's very small in the beginning.