We’ve written a bit about defining your target audience, but suffice to say that if you still haven’t done this, then don’t bother moving on to the next steps in the sales funnel. You must have some idea of what people are interested in your topic, where they are hanging out online and what motivates them in order to begin creating awareness of your course at the top of the funnel. If you just start sending out emails and tweets willy nilly with no real plan, your efforts (and you will read later on that it is a lot of effort) will be wasted. You need to know that you are creating the right content for the right people.
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.
The strategies used to gather information tend to vary based on the size and scope of the purchase. Recognizing that you’re hungry, for example, might result in a quick Yelp search for restaurants in your area. Deciding which provider to use to install a new inground pool at your home, on the other hand, will involve calling around, reading company reviews, visiting showrooms, and talking with salespeople.
No matter what kind of purchase we’re making or how much we intend to spend, all of us follow a relatively similar path when it comes to deciding what to buy. This buying process, or stages, was first introduced by John Dewey in 1910, but even now — more than 100 years later — it’s still the foundation of understanding buyer behavior and marketing funnel creation.
If you’re running an accounting business, at this stage your customers would be evaluating different potential service providers. They might need resources like pricing guides (so they know what ballpark rates are), how to evaluate the landscape of accounting services (i.e. whether to hire a solo accountant, an agency, etc.), or how to choose an accountant.
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.
Beyond terms and process, one of the best ways brands can align both sales and marketing is through shared programs such as account-based marketing (ABM) and lead nurturing. In 2018, Salesforce Research found high-performing marketing organizations to be 1.5x more likely to use ABM methods, and 1.9x more likely to use lead nurturing than underperforming marketing organizations. They are “shared programs” since both marketing and sales should work together to create them. Marketing handles the technology and setup while sales pick the targets and help create the content. Sharing in the creation of the programs allows sales to feel ownership of the programs, increasing their use and overall effectiveness.
Here’s where you can position yourself as the industry expert they’re seeking with content that helps them. Try doing some keyword research to figure out what types of content you should be creating for the middle of the funnel (MOFU) audiences — you can find out which search terms in your niche attract high volumes of traffic and create content around those queries later.
Steve Jobs was a pioneer of the funnel business model in the early days of the internet. His vision was that almost any person or company with an interest in information, interaction, or media was a potential participant in the Apple funnel. The top of the Apple funnel was very broad, with devices from desktop computers to iPods. Apple attracted people into the funnel with products that were so intuitive and elegant that they became status symbols. And inside the funnel, the compatible and interconnected nature of the devices, along with a sizable content library, created multiple opportunities for further transactions.
No one has to tell you, of all people, that customers go through stages as they move through the buying process. As a small-business owner, you've been selling your product or service long before your sales and marketing team started casting decisions in terms of “the marketing funnel.” The marketing funnel? If this term is new to your vernacular, don't worry, you're not far behind the curve – or the tactics to help you navigate it.
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.
3. Follow-Up – Not all leads are going to move smoothly from one step of your funnel to the next. And not all leads are going to be ready to make a purchase decision right off the bat. That’s where the follow-up stage comes in. This part of the funnel is meant to redirect leads who have exited your funnel and bring them back into the sales process. Retargeting ads and email campaigns make up the bulk of this stage.
According to Pardot, 70% of buyers turn to Google at least 2-3 times during their search to find out more about their problems, potential solutions, relevant businesses, etc. Many people also turn to social media and forums for recommendations. At this point, they aren’t looking for promotional content; they’re looking to learn more about potential solutions for their need.
Make no mistake, creating a sales and marketing funnel using the process described above is no easy feat. This isn’t a project you’re going to complete in one afternoon — it’s a pursuit that you’ll want to actively address as long as your company is in business. It’s not a simple undertaking, but it’s one of the few opportunities you have to drive significant improvements in your efficiency and effectiveness when closing deals.
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.
One of the core concepts in the digital marketing industry is the sales funnel. While odd sounding at first, this single core concept can take a business from virtually non-existent and unknown to multi-million-dollar marketing machine with mass saturation, seemingly overnight. In fact, there are skilled practitioners who have built a career around implementing this single concept in business.