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.
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.
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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.
One quick word of caution, though. With every piece of content you create for every stage of your funnel, you’re generating data. Though all of it is useful to your sales process in some way, it’s easy to get bogged down in data and metrics tracking instead of focusing on the few key performance indicators (KPIs) that will actually give you the information needed to make meaningful improvements.
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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.
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The marketing funnel depicts the steps of a hypothetical buyer through his decision-making process. The funnel is widest at the top and then gradually grows more narrow. The earliest models depicted a customer entering the funnel as a novice and then sliding down the funnel and through the steps of awareness, interest, desire and action, meaning a purchase.
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.
How many people could be inside the Amazon funnel? Basically anyone. Not only does Amazon offer a mind-boggling number of products, but it also offers a broad array of highly desirable personal and business services, including cloud hosting and fulfillment. In addition, Amazon’s platform that is so technologically advanced that it allows almost an infinite number of people to be in the platform at any given time.
The idea behind adding value to your website is that people who become daily users are much more likely to also become clients. If you don't sell a product yourself, you can become an affiliate marketer and post affiliate ads on your website. If you do sell a product, a daily user will have a chance to see more of your offers/products and buy them.
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.
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.
You gain the prospects interest through an email sequence. You begin to relate stories to them that tie into who you are and how you've arrived to this point in your life. Brunson, in his book, Expert Secrets, calls this the Attractive Character. Are you the reluctant hero whose journey happened almost by mistake, but you feel like you owe it to yourself and the world to convey something of great value?