To better understand the concept of a sales funnel and just how you can implement it in your own business, let's look at the following image from Shutterstock. On the left side of the image, you see a magnet. That magnet is attracting customers, which happens a number of ways. From blogging to social media to paid ads and everything in between, how the visitors arrive to your website has some impact on the success of your funnel.
As you can see, each color-coded section of the funnel pictured above corresponds to a stage in the buying process. The widest tier at the top of the funnel represents “awareness,” the point at which potential customers are beginning their information search. The second tier is “interest,” roughly corresponding to the evaluation of alternatives described in the purchase process above. And, finally, the third and fourth tiers, “desire” and “action,” are self-explanatory.
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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.
One is intellectual capital. Hospitals will need people who speak the language of the total market served, who are steeped in contemporary means of personal and commercial interaction, and who have a demonstrated ability to draw traffic and create a first-class consumer experience. These individuals need to be given sufficient position and authority to truly influence how a hospital interacts with all the people it touches.
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.
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.
Blog posts: This tactic employs the principles of content marketing by offering educational articles of interest to your target audience. They’re designed to give advice or helpful insights on topics related to your business or industry, and consequently, draw consumers to your site who are interested in this information. These educational, informative posts also showcase your company’s knowledge and expertise, building your brand with the target audience.
Traditionally, hospitals do have a funnel. They touch many people in a community and offer many interrelated services. However, speed and scale are the coin of the realm in the internet economy. So it’s no surprise that new entrants in healthcare are aiming to take the healthcare funnel to a new level—to create a funnel that is exponentially broader, more attractive, and more engaging. For these new entrants, the funnel business model is deeply embedded in organizational culture, capabilities, and strategies. Virtually every major business decision these companies make has the goal of achieving a more active funnel. For hospitals to be a competitive force at the top of the funnel, they will need to have this same strategic orientation and discipline.
Now, you don’t need a massive advertising budget or a product that targets a basic human need to use this approach. Whether its a paid search ad that addresses the main reason behind someone’s search or a paid social ad that connects your target audience’s need to what you sell, good Stage 2 marketing helps people connect the dots between their pain and your solution.
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.
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Traffic: from referrals, organic, blog, and ads. They display a pop-up at the bottom of their blog posts and homepage for a free 30-day trial. If you sign up for the free trial, you will be redirected to the pricing page. And if you sign up for their email list, you will actually remain on the Crazy Egg’s blog page afterwards, keeping you engaging with even more content.
For instance, if you’re running an accounting business, at this stage your leads would be comparing plans offered by different service providers. They might need resources like how to evaluate the landscape of accounting services (i.e. whether to hire a solo accountant, an agency, etc.), pricing guides (so they know what ballpark rates are), or how to choose an accountant.
Content that introduces the company and intrigues potential customers enough to move to the next stage of the buying process. For example, a Facebook post called “Behind the Scenes at Molly Marketer’s Company. This works especially well if you have a company with a corporate citizenship mission, such as selling sustainable, environmentally friendly goods.
HoneyBook offers business management software for creative entrepreneurs. Their business personality test lead magnet helps business owners identify their strengths, having participants provide their email addresses to receive their results. Based on the results of their quiz, they are then added to an email nurturing campaign that provides tailored business advice for their personality type, with the option to begin a trial using HoneyBook.
Say you’re into cycling and you’ve decided to purchase Trek’s latest Emonda line road bike. You read a few less-than-positive reviews online, but brush them off on the understanding that all Internet comments should be taken with a grain of salt. After all, people only review products and services that they absolutely love or absolutely hate – but most customers fall somewhere in between.
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.
Or, are you a leader, an adventurer or an evangelist? How you position yourself is entirely up to you, but your message must be consistent throughout your entire "pitch" and it needs to be steeped in the truth. Your backstory, and just how you convey that through parables, character flaws and polarity, has much to do with just how well you can "hook" in your prospects to create a mass movement.