Exits from stage. The exits from stage metric is very similar to your time in stage metric, but it allows you to see how many potential customers you are completely losing in a particular stage. For example, if your potential clients spend a year on your email list before they buy (but most of them do eventually buy), that’s a time in stage problem. If people spend 5 days on your email list before they buy, but 98% of them unsubscribe within 5 days, that’s an exits from stage problem.
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.
As each individual deal moves through each phase, the probability of closing the sale will change. The further along the sales funnel, the more information is exchanged and more apparent it becomes using the product will be advantageous to the customer. At this point, there is a higher potential for that deal to be ultimately successful unless the deal is moved to closed-lost in which case, the probability moves to zero.
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.
You need to understand your audience like you do your very own yourself. You are aware of your dislikes and likes, you know what problems you face and you know the sort of people you will let help with those problems. If you learn to know your audience in the same manner, the chances of you establishing a genuine connection increase vastly. You will also be able to guide more people through your sales funnel and get those coveted ‘closed-wons’.
Why go through the trouble of following these 11 steps? You want to be able to maximize course sales for the least amount of effort, right? You basically want to put passive income generation from your online courses to be on autopilot. That means driving potential students to your course landing page – wherever it may be – and convincing them to pay for your course – and hopefully any other course your produce after that. That’s called “conversion” and it’s the goal of creating your sales funnel is to get conversions.
However, collectively, they do represent the many activities that you should be working on everyday to get your course sales funnel up and running. What that process looks like will depend very much on your existing knowledge of and execution on these components, your financial and personal motivations, time, talent and more. No matter what, you want to be working on as many of these bits as possible to get those conversions.
For instance, if you’re selling marketing automation software to a startup, showcase a startup that 10X-ed their leads. If you’re selling the enterprise version of that marketing software, share a case study from another enterprise company. The enterprise case study is too aspirational for the startup, and the startup case study doesn’t work in front of a huge global marketing team.
One of the main reasons for giving out this free content is to get prospect to give you their email address in exchange of an opt-in offer. This could be mini-course, download, cheatsheet or report. At this stage your email marketing provider must provide you automations, meaning emails are sent without your involvement and as per your defined actions.
Unfortunately, the reason why we call it a marketing funnel instead of a marketing journey or marketing waterfall is that not everyone who enters your funnel will end up buying. At each stage in the buying process, you lose some potential customers, but a good marketing funnel will keep those losses to a minimum and produce the maximum number of sales from your marketing.
The best part of the traditional sales funnel was that salespeople could move prospects through at their own pace based on their needs to close a deal. Today, customers are in control of the sales process. A modern buyer spends more time upfront researching a purchase before they engage with a salesperson, reducing the value of sharing information.
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.”
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.
Following their information search — or sometimes running concurrently with this process — potential customers start comparing the alternatives that your article has discussed. Again, the time spent in this stage will vary based on the type of purchase being contemplated. Choosing a restaurant might be as simple as deciding, “Well, I feel like Chinese food, not Mexican, tonight.”
As “State of Sales” finds, salespeople believe a combination of human skills and data-driven insights is needed to convert prospects into customers. In fact, the ability to listen is seen by 78% of those surveyed as an important attribute needed for landing deals. But sales reps also have to demonstrate industry knowledge (74%), trustworthiness (74%), and knowledge of prospects’ business needs (73%).
Your website's landing page is the first impression potential customers will instantly have of your business. Therefore, take time to make sure that it looks great. A good landing page will also encourage visitors to sign up for some sort of list, or subscribe to the website. This gives you that all-important contact information, which becomes your first line of communication.
For United/Optum, hospital services are not seen as something that adds much breadth to the top of the funnel or that draws people into the funnel—certainly not enough to justify Optum taking on the high fixed costs and poor pricing of inpatient care. Rather, hospitals are an additional interaction within the funnel that can be accomplished through partnerships rather than ownership, according to Wichmann. Those partnerships, he says, “will occur in markets where there is maybe fewer assets for us to accumulate and build from."
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.
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.
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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.
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.