From Browsers to Buyers - How Sales Funnels Transform Businesses
The sales funnel is a marketing strategy that represents the number of potential customers at each stage of the sales process. As you move from attracting community members who are unfamiliar with your business through to engaging those who already know about it, and then educating those who are committed to making a purchase – the numbers will naturally decrease as they move towards a conversion goal (sale).
Funnels can be visualized as a cylinder shaped structure with an open top and narrowing sides. At the top, you’ll attract a broad community who aren’t yet aware of your brand. The middle of the sales funnel focuses on converting prospects into leads, and then into contacts or customers. At the bottom, you’ll nurture these customers into repeat buyers or referral sources.
Traditionally, businesses focused on generating and optimizing landing, appointment, or sales pages according to each audience segment. Customer relationship management (CRM) tools can also help with this, providing the data to create targeted marketing campaigns based on an understanding of each group as they are progressing through your funnel.
But as technology changes our buying habits, the traditional funnel model is proving less effective for most businesses. Today, the sales journey can take a meandering path that allows consumers to find out more, go down research rabbit holes, and change their mind. This is particularly true in fast moving product markets like FMCG and e-commerce. This is why it’s more important than ever to invest in building trust with your audience at each step of the journey.
This will keep your audience feeling confident that they’re spending their time and money wisely.
One way to do this is by creating high-quality gated content like eBooks, guides, or videos that you offer in return for the customer’s contact information. This provides your audience with the valuable and informative information they need to make a buying decision, and strengthens their confidence in the value of your business and product or service.
Another way to build trust with your audience is to be transparent throughout the purchasing process. This will prevent them from experiencing frustration or disappointment when they find out additional costs, such as postage and packaging, aren’t included in the advertised price of your products.
Finally, it’s important to provide your audience with a variety of buying options that are tailored to their unique preferences and interests. For example, if you sell guitar equipment, you should offer a range of guitars that are suitable for different music genres.
This will prevent your customers from getting stuck on a single product when they could have found what they’re looking for if the selection had been more focused. This can help you convert more browsers into buyers and boost your sales performance.
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