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).
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.
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.
No matter what kind of purchase customers are making or how much they plan on spending, all of them follow a fairly identical path when it comes to deciding what to buy. This process, or the different stages it is composed of, was first introduced by John Dewey in 1910, but even now — more than an entire century later — it still is the ultimate basis of comprehending buyer behavior and marketing funnel creation.
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.
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.
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.
This funnel is a starting point to a funnel with landing page, OTO-page and thank you page. You can optimize it to your liking. I use Clickfunnels for all my funnels and I highly recommend it due to their analytics. Without analytics your funnel is useless as you do not know at what point people drop off your funnel meaning you can not fix what you do not know.
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.
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.
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.
Sales and marketing teams need to adapt to these increasing demands. They have to work more closely together. While the marketing team still hands leads to the sales team at a point in the funnel, they have to stay involved to maximize customer retention and advocacy. The sales team needs to be involved early on, providing the benefits of their customer knowledge to help increase qualified leads and conversions.
Online Sales Funnel – one of the most crucial parts of your business and one that should be on your agenda on a weekly basis. Without marketing your business will eventually fail as you will not get new paying customers. Good thing with online sales funnel is that it can be automated for the most part. You build it once and then just update it when necessary. I call this #automagic and a first step towards passive online income.
This model lets your customers show the value that they have experienced to your prospects. Rather than having your sales team explain your product/service, it provides a credible third party with actual user experience to explain the value. A flywheel allows you to reduce SG&A costs, focus on the customer experience, and find better good fit customers.
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.
Exits from stage – Similarly, seeing an excessively high number of people falling out of a particular stage is an indication that you aren’t doing enough to answer their questions or you’re asking them for too much of a commitment too early. Add more content to give them the information they need to move forward or make it easier for people to convert (e.g. don’t ask for a phone number when they’re downloading a certain e-book).
According to one recent study published by Pardot, 70% of buyers turn to Google at least 2-3 times during their search to find out more about their requirements, potential solutions, companies offering those solutions, etc. Many people also turn to public forums and social media platforms for recommendations. At this point, they aren’t looking for promotional content; they’re only looking to learn more about potential solutions.
However, say the customer is evaluating marketing automation programs to help improve the sales funnel they created. Because these programs can require investments of $1,500 a month, they’re likely to undergo a much more careful and thorough evaluation process. They might request free trials of the different systems they’re considering, have online demonstrations with each company’s representatives or view training videos to get a feel for how each system will perform.
Of course, regardless of how they enter into your funnel, your goal as a marketer is to move them through the multiple stages that will take them from prospect to buyer. And once they're aware of you, you need to build their interest. To do this, you need to establish a relationship with the customer. You might have enticed them with a great offer (lead magnet) to grab their email address, but actually moving them through the funnel is a far greater challenge.