In a recent conversation I had with Perry Belcher, co-founder of Native Commerce Media, he told me that you also need to train your prospects to click on links. For example, you could have them click on a link of what interests them or link them to a blog post or eventually to a product or service that you're selling, but you need to train them to build a habit of clicking on those links from the very beginning.
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.
For example, let’s say your business has a blog and social media accounts it uses to get on a potential customer’s radar. From there, you encourage people to download an eBook in exchange for their email and drop them into an email drip that promotes an upcoming webinar. At the webinar, you sell people on your product or service, which convinces them to submit a lead form, work with your sales team and ultimately make a purchase.
“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.
Advocacy metrics: Track your advocacy efforts by measuring the percentage of customers who come through your referral program. Also gauge sentiment by what customers are saying on social media. Small businesses that don’t have the time or resources to devote to social media can use software tools, such as Hootsuite, to streamline the monitoring and management of various social media outlets.
The sales funnel metaphor is somewhat misleading; in real life, the process never goes as smoothly as liquid down a funnel. In the last decade, digital marketing, artificial intelligence (AI), and CRM have drastically changed the process of converting new leads into customers. Given this, it’s increasingly important that business-to-business (B2B) sales and marketing teams are aligned in their views on a sales funnel strategy and lead generation as a whole.
There are a number of different tools on the market today to help you track these and other metrics, though for most businesses Google Analytics represents the most comprehensive, easy-to-implement solution. Since it’s free, use the service’s funnel-tracking tools until you determine that you need something more advanced and then move on to another sales analytics program or a complete marketing automation program.
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.
The final step in the process is to figure out which metrics you’ll track to determine how well your funnel is functioning. It’s crucial to work with the SQL and MQL data here to track patterns between who closes and how they interact with your site, content, channels, ads, etc. Once you have more information, you can continuously optimize your funnel
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Sales funnel conversion rate – If you’re going to choose only a few metrics to focus on, make sure this is one of them. This metric tracks the number of prospects that enter your funnel at any point and how many convert into customers. As you make changes to your marketing strategy in the future, seeing this number improve will let you know you’re on the right track.
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That said, creating your online course sales funnel is completely doable and absolutely necessary if you have significant income goals for your online course business. Part of the issue for a lot of instructors may be that the idea of doing all the things that need doing is overwhelming. So we’ve tried to break the process of creating and maintain your sales funnel into 10 broad steps to follow.
In marketing automation, Ryan Deiss, co-founder of Digital Marketer, often describes the sales funnel as a multi-step, multi-modality process that moves prospective browsers into buyers. It's multi-stepped because lots must occur between the time that a prospect is aware enough to enter your funnel, to the time when they take action and successfully complete a purchase.