All business owners can attest to the agony of missing a sale. It happens all the time – after days of demos, pitches and discussions, the prospect drops out of the sale without buying.
The good news is that ETRAFFIC is here to help. With the right sales funnel management, you can reduce the holes in your sales funnel. Let us build you the right funnel for your business.
Please call us today at 1300 887 151 to learn how we can help you build your marketing and sales funnel for you or book a free strategy session below.
What is a Sales Funnel?
A sales funnel illustrates a series of steps that someone must go through to become a customer. It is a process that a prospect takes from their initial contact with you to the completion of a purchase. To make prospects paying customers, businesses use content marketing, Google search engine optimisation, social media, paid commercials, free trials, and many other channels.
Let’s take a look at a traditional sales funnel. People at the top of the sales funnel pass by your kitchen appliances business. The next step in the funnel is for a specific percentage of them to walk in. Of these, one notices a clearance sale on blenders and is trying to choose one that suits them best.
They’ve now reached the next step of the funnel. They pick one item and proceed to the checkout. If all goes according to plan, they complete the transaction and reach the bottom of the funnel.
How Does Sales Funnel Work?
It’s simple: people don’t just wake up one day and decide to buy stuff. Moreover, people don’t always wait until they need something to buy it. Let’s face it; people buy a lot of stuff they don’t need.
This is the customer journey and top brands understand it, which is one of the main reasons they have a constant stream of consumers buying products that they probably don’t need. How do they do that? In 4 vital stages of the funnel:
- Awareness: Make your target audience know that your product or service exists.
- Interest: Once potential customers are aware of your service, you must convert their curiosity into interest.
- Desire: Once a buyer has expressed interest, the following step is to create an emotional bond that motivates them to make a purchase.
- Action: Finally, you demonstrate to customers how to make their desire a reality (calls to action: sign up, click here, sign here, etc.).
Top 5 Benefits of Sales Funnel
Increased Productivity
Each level of the sales funnel not only allows your firm to assess the efficacy of its initiatives, but it also allows you to assess your productivity.
Predictability of Results
People must take specific actions to progress through the sales funnel. As a result, the success of each phase is contingent on the success of the preceding stage, allowing you to track results.
Improved Management
The funnel is used to segregate and standardise the sales cycle, allowing for a more objective and agile examination of each of the stages of the sales funnel.
Product Development
You will gain vital knowledge about new ways to improve your company’s services or products as a result of your interactions with customers.
Identifying Opportunities Is Easier
Because you can track the status of each sale in real-time, you will be able to track the likelihood of each contract coming to fruition. You can also track every step of the buying process making it easier to recognise opportunities to boost sales chances.
Measuring the Success of a Sales Funnel
Monitor Leads
Leads are the reason you have your sales funnel in the first place, and measuring KPIs related to them is critical. While tracking the number of leads entering the funnel is key, a more in-depth analysis of leads will offer you even more data.
Don’t just look at the total number of leads. Concentrate on qualified leads and track their cycle time, which is the amount of time it takes for a lead to progress from one stage of the customer experience to the next. You should also look at lead sources to see if there are any ways to boost the effectiveness of top-of-funnel operations.
Evaluate Acquisition Costs
Almost all of the sales funnel data you analyse should be geared toward boosting revenue, which includes expense analysis and control. Acquisition costs are all of the marketing and sales expenses associated with acquiring a new customer.
Divide your total acquisition cost by the number of leads generated to get your lead acquisition cost. For the customer acquisition cost, divide your overall acquisition cost by the number of clients you’ve acquired.
Assess the Conversion Rate
The leads that convert to sales are more valuable than those that don’t. Conversions may be tracked by looking at your conversion rate, which is calculated as the number of sales divided by the number of leads. This indicator indicates how well your team converts leads as they enter your sales funnel.
Creating A Marketing & Sales Funnel
If you want to convert more visitors to your website into buying customers, you should consider improving your marketing & sales funnel. The marketing and sales funnel of your business plays an important part in improving the efficiency of your business’ sales process and converting visitors into paying customers.
If you are looking for expert help to get your sales-funnel built, there is no better agency to turn to than ETRAFFIC. Our expert marketing team knows exactly how to build the right funnel for your business – which will help take your company to the next level.
The right sales and marketing funnel can transform your business almost overnight. However, building the right funnel is a time-consuming job that requires a lot of technical know-how, experience, and hard work. Building the right marketing funnel is never a one-off, set-and-forget solution. It should be done by marketing experts with extensive experience in performing such work.
A marketing funnel is a process of breaking down the customer journey – starting from the awareness stage to the purchase stage. Most funnels include post-purchase follow-ups to increase the retention of clients over time. Without marketing, most businesses are bound to fail over time without bringing in new clients.
Most businesses make the mistake of trying to go from the first point of contact directly to a sale. This is not an effective or sustainable way to increase the sales of your business in the long run. All businesses need to build a long-term relationship with their potential clients to convert them into paying customers over time and that’s where a strategically developed marketing funnel is crucial.
Stages In A Marketing Funnel
A marketing funnel has five stages. No matter what they purchase, all buyers follow a relatively similar path when transitioning from visitor to paying customer. The first stage of the buying process is the recognition of a problem or need. If the potential buyer doesn’t recognise that they have a need to be fulfilled, they aren’t going to make a purchase.
These needs may range from easily solved problems to problems without clear solutions. For example, if your heating system breaks down during the middle of winter, the problem is obvious – you maybe need a new heater – and the solution is also clear – you should probably purchase a new heater if the problem isn’t repairable. However, when you have issues with your business taxes, the solution may not be so obvious.
The first stage of the marketing funnel is the recognition of a problem or need. Once the need is recognised, the individual will start to search for solutions. Information search is the second stage of the marketing funnel. The visitor gathers information from the internet and various other resources to find the right solution for their problem. The third stage of the funnel is the evaluation of alternatives. The potential customer will start comparing the alternatives they have to fulfil their need. The fourth stage of the funnel is the purchase decision. This is a natural conclusion of the preceding steps.
The potential customer has decided that they have a problem and need to fulfil it. They will investigate the options available and decide on the best solution for the problem. The customer will go on to purchase at this stage unless there are any hindrances to the decision. Negative feedback from other customers can hinder the decision of the potential customer for example. The fifth stage of the funnel is post-purchase behaviour. If the potential customer experiences disappointment after the purchase, they may request a refund. That’s why you need to pay attention to the fifth stage of the marketing funnel.
Our Process
Our expert marketing team can help build an effective marketing funnel for your business. Here are the most important things we will do for you:
01
Clickfunnels
We will set-up Clickfunnel accounts with all your devices to optimise the conversions.
02
Landing Page
This is the first impression that your potential customers will have of your business. We will create optimised landing pages that will encourage visitors to sign up.
03
Front-End Offer
Present your offers to the potential customers allowing them to buy your products.
04
UPsell Offer
Offer the customer who bought your product the opportunity to upgrade the service.
05
Downsize Option
The funnel will offer a downgrade option to certain customers similar to offering the upgrade option.
06
Re-targeting
This is the last step in the funnel - which is important to keep the momentum going. We will follow up with all the customers who bought the product and make sure they are happy with the product. You will remain in contact with the customer even after the sale that way.
Our Points Of Difference
- We are committed to providing you with top-quality work
- We will make every potential client a fan of your business
- We are reputable and experienced in the work we do
- We are honest and offer the best solutions for your business
- We are dedicated to providing the most effective funnel for your business
- We practice what we preach
Let ETRAFFIC Optimise Your Sales Funnel
Improve the quality of your marketing strategy and sales activities by creating a seamless buyer’s experience from discovery through client success. Let us do the work for you through our expert lead analysis, sales automation, and performance reporting. Fine-tune your sales funnel with ETRAFFIC and watch your business thrive!
Marketing & Sales Funnel FAQs
Awareness, Interest, Decision, and Action are the four key elements of a sales or marketing funnel. These four stages depict the thinking of your potential consumer.
A sales funnel is linked to the stages of the customer journey, which are divided into three categories: top, middle, and bottom. Prospects go through the following sales funnel stages: Untouched > Leads > Qualified > Proposal > Negotiation > Won.
To better manage your sales funnel, reduce the amount of friction in your sales process. This means you should address the pain points of your prospects first. Following this, keep track of important tasks in the funnel and don’t send in your sales team too soon.
The first stage of the sales funnel is called “awareness.” This is the step where customers learn of the existence of your product or service. They may have heard about you through advertisements, social media, or word of mouth.
It’s critical to grasp the notion of sales funnels because it’s a valuable model for visualising the customer journey. It allows you to upsell and retain customers so you can keep selling to them for years. It also guides your digital marketing strategies to encourage more traffic to your landing page.
Yes, you do. It is a valuable model for visualising the customer journey from awareness through to conversion. It, therefore, becomes a helpful framework for analysing your organisation and pinpointing opportunities for improvement.
The top of the funnel is the point where you will be exposed to the most people. The more prospects you affect in this stage, the more you’ll have to work with in the next stage.
If you are searching for the best digital agency to build an effective marketing funnel for your business, you don’t need to look any further than ETRAFFIC. Call ETRAFFIC today for all your digital marketing needs including the right sales and marketing funnel for your business.
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