As a software engineer myself, I can tell you that building funnels from an application standpoint takes massive amounts of work. There's a great deal of coding and integration that's required here. From email systems to landing page implementations to credit card processing APIs, and everything in between, so many platforms need to "talk," that it takes the bar too high for the average marketer.
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.
Think about that the next time you're building out a sales funnel. This complex and intricate concept in business can literally take you from a complete unknown to a global powerhouse quickly through the art of scaling out a highly-converting offer. Don't try to take shortcuts or implement hacks, and put in the time if you're looking to eventually reap the benefits and results.
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.
Of course, implementing this isn't easy. You need to first develop your stories, then decide on how you're going to convey those stories and at what drip-rate. For example, your first email or two might go out on the day they first signup, then one email per day might go out afterwards. How much of that will be story-based and how much will be pitches?
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.
Traffic sources. As you’ve probably noticed throughout this article, different traffic sources work better for different stages in the marketing funnel. Sometimes, however, a traffic source can surprise you, so it is a good idea to track how many people are entering your marketing funnel from each source and stage so that you can give your top sources more budget and attention.
As people progress through your funnel, their intent to buy steadily increases. You always lose people with each new commitment you ask for (we refer to these actions “conversions”), but the more people you can get to convert at each step in your funnel, the more sales you will ultimately produce. In marketing, we call this process “widening the funnel.”
But once you acquire enough initial customers and you ensure their success and happiness, they become a force for your flywheel. This is because either they buy from you again or they bring in new customers by promoting you to their network. This is the key to keeping your flywheel spinning without continuing to invest all your resources in acquiring new customers.
On a macro-level, a sales funnel will start with a large number of potential buyers at the top Based on certain criteria, this pool of potential buyers is reduced to a fewer number of prospects. Towards the middle of the customer journey, the number of prospects reduces to a handful of opportunities, and after the decision-making stage, the sales process ends with a closed-won or closed-lost deal.
The next step is to present potential customers with the opportunity to buy a product or procure your service. "When constructing your main front-end products and associated upsell offers, you should be engineering them with the additional mindset of . . . how will this help create more desire for the next [backend] offer [you're] going to present them with," explains Todd Brown of MarketingFunnelAutomation.com.
If you're wondering what a sales funnel is, simply imagine a real-world funnel. At the top of that funnel, some substance is poured in, which filters down towards one finite destination. In sales, something similar occurs. At the top, lots of visitors arrive who may enter your funnel. However, unlike the real-world funnel, not all who enter the sales funnel will reemerge out from the other end.