What is a marketing funnel? (A guide for creators) |
Do you want to improve your conversion rate and sell more digital goods? Marketing funnels could be your secret weapon. Here's how it works.
It's a digital creation which you are confident that your customers will appreciate. It's packed with actionable advice and knowledge, and has the potential to make the difference in your customers' lives.
So why isn't it flying off on the (virtual) shelves?
The marketing strategy you employ could be the culprit -- especially if you don't know how to move your customers to go from point A (discovering your item) from point A (thinking about buying it) until the point of C (becoming satisfied and loyal customers).
That's where marketing funnels are useful.
In this piece we'll go over the reasons how marketing funnels are an absolute must-have for creators. We'll also discuss the most effective marketing strategies to use at each stage within the funnel.
Let's first look back and address the issue that's on everyone's minds what is the definition of a funnel for marketing?
What is a marketing funnel?
The marketing funnel maps out the journey that a potential buyer (or "lead") takes beginning with your business until they purchase.
How a lead will be placed within the funnel is based on their familiarity with your product or brand and how close they are to making a purchasing decision.
Different marketing professionals break down their funnels down into various steps. This one will be simple by using a funnel with three stages that maps the customer's journey from awareness until the final decision.
awareness:They're just starting to learn about your company or brand. These leads know they have an issue, however, they don't know which options are out there.
Consideration:These leads are evaluating the various options available. They're trying to figure out the best solution for their problem and if they're able to trust the brand.
Decision:These leads are ready to purchase and they're just waiting for additional push in order to be customers.
It is also common to see the phases of the funnel broken down into MOFU, TOFU and BOFU. These are the top of funnel and middle of funnel and the bottom of funnel. The farther down the funnel leads are and the nearer they are to converting.
If you now know what a funnel is What makes it essential for marketing?
Do you really need a marketing funnel?
A funnel for marketing will help make your marketing more effective and effective.
Here's what I mean as a creator your time is one of the most valuable resources you have.
Most small-scale businesses invest less than five hours each week on marketing. In the event that you're limited on time and resources to spend on marketing your online business it's impossible to speculate on what content might be a hit with your customers.
This way, you won't get caught trying to pitch a tough pitch to someone who is aware of your company.
Brian Clark, digital marketing expert and the founder of Copyblogger, explains :
"We do not go into direct offering a product to everyone who interacts with our content. Instead, we utilize different strategiesthat are both indirect and direct -- to make a case for the offer whenever the moment is right."
Plus, customers expect relevant content:
91% of consumers prefer to buy from companies who offer relevant deals.
Sixty-three percent of users will be more positive about a brand if it offered them more relevant and interesting content.
If you send your prospects the right messaging in the appropriate time, it pays off: Targeting users with information that is relevant to the place they are in the buying process could result in 72% higher conversion rates .
Ready to turn more cold leads into customers who pay? Let's look into the top marketing tactics for each stage of the funnel.
How do you market your digital goods at every step of the funnel
Attract leads through lead magnets, as well as with social media ads
When they are in the stage of awareness the majority of people don't even consider making a purchase. They're looking to find out more about their issues and what solutions might be offered to their needs.
Provide these leads with the data they're looking for by sharing high-quality content that addresses their pain areas. This valuable content helps introduce your brand to the world and establish you as an expert within your field.
Take Ryan of Signature Edits , for example. Signature Edits has presets, templates, as well as training to their group of photographers.
Ryan is aware that different photographers run into different pain points, so Ryan has two leads: A candid pose guide as well as an gratis sample pack of presets for editing photos .
When someone downloads one of the lead magnets, Ryan sends them follow-up emails to inform them about his company and its products. And offering two different lead magnets will help Ryan ensure that follow-ups are more targeted and relevant.
In the case of a person who decides to join the editing tools for photos, Ryan knows that editing can be a source of fascination and maybe even a problemto that individual. With that info on hand, Ryan can confidently promote the editing tools to that lead.
Author Minessa Konecky of Direct to Success makes use of interactive games to draw new customers into her funnel for marketing and offer them a personalized customer journey.
Making use of an online quiz program called Interact , Minessa created a lead generation quiz to assist you in discovering your business's biggest blocker to bring in and learn more about new leads.
After someone takes her quiz, Minessa segments them into one of three groups:
Unsuspecting:Small business owners with many things to accomplish and aren't certain how to spend their time everyday.
Professional midlife:Entrepreneurs who know what they need to know, however, they aren't sure how to connect the action things into a strategic.
Perpetual procrastinatorsPeople who are aware of what they need to do yet aren't able to start independently.
Based on the group the lead belongs to, Minessa moves them through the funnel through giving away three mini-courses.
When they reach the top of her funnel, she presents leads to her two primary products. She then encourages them to purchase her products or sign up for her program, The Squad Academy .
Another thing to consider prior to moving on towards the middle of the funnel What is the best way to make sure these lead magnets are in front of your target buyers?
Social media ads are efficient ways to advertise your lead magnets -- particularly on Facebook.
This is why: Facebook ads generally have less cost and a higher returns than other channels which makes it among the top social media platforms for small-sized businesses.
Additionally, Facebook has some of the best targeted audience targeting tools available. Like, Lookalike Audiences allow you to target users who are similar to your existing customers.
Take one of your existing audiences such as your blog readers or students in online courses and tell Facebook to search for more similar to that audience.
Learn more about the ways Facebook ads can help improve your marketing efforts Check out these sources:
Okay, now that you have the high point of the funnel covered with the funnel's top covered,you're now ready to move on to the next step: considering.
Be aware of the need to nurture leads through emails for marketing
At the point of consideration, prospective customers are researching and comparing various options. They know what their problem is, and are aware that there are multiple options out that can help solve the issue.
Your task is to make people realize that your product is the best option. You must nurture these leads.
I truly cannot overstate the significance of nurturing leads. In a time when the majority of leads don't result in sales, nurturing your leads may make the difference between soaring profits and low sales.
Still not sure? Nurtured leads are more purchases by 47% and generate a 20% increase in potential sales than leads that are not nurtured.
and a return on investment of $42 for each $1 spent Email is among of the most affordable and adaptable marketing tools for use, especially when you're a small-business proprietor with a budget to match.
So, now that your prospects have signed up to your list of email addresses and you're ready to add them into a nurture sequence.
Email 1.Introduce yourself, and encourage your customers to begin thinking about the problem you're going to solve for them.
Email 2:Now you know that your potential client is thinking about their issue Share some useful insights with them to help them to take the first step towards getting it solved.
Email 3.It's the time to announce your course. Explain what you offer and how it can be a great solution to their needs.
Email 4:You've completed your initial presentation, but the potential customer might still have some reservations. Answer some of the key queries they could have about your course.
Email 5:Make one final pitch. Tell them why they must take action now, and encourage them to contact us with any concerns.
Each email is designed to serve a particular function. After we've gotten into emails four and five, leads are in the stage of decision making, but the actual selling doesn't occur until the sixth and last email. Your goal is to gently lead your lead toward converting -rather than shoving them into the depths of.
The middle of your funnel can also be a great opportunity to promote social proof with your leads.
Coined by Dr. Robert Cialdini in his well-known publication Influence , the concept of social proof is "we view a behavior as acceptable in a situation to the degree that we see others performing the behavior".
That is, if prospects see that those who similar to them are purchasing and getting results with your products, they'll desire to get in on this action.
In the case of marketers, using social proof is about including reviews and feedback throughout the marketing funnel, particularly during the decision period. Here's why:
95 percent of buyers read testimonials and online reviews when they're considering a purchase.
88% of customers believe in online reviews more than personal suggestions.
72% of people believe that testimonials and reviews help them believe in the business more.
You've have made it to the contemplation phase, and now the purchase is so close you can taste it. Let's cross that finish line.
The decision: Convert leads through retargeting and special deals
The decision stage is the end of your marketing funnel. At this point, your marketing efforts should result in conversion the target market a simple task.
How do you get you to the final hurdle?
One of the strongest BOFU tools for marketing is retargeting.
Have you ever been looking at shoes at an online store Then, you went to Facebook only to find those same shoes advertised on your newsfeed? That's retargeting.
This particular type of retargeting is done through the Facebook Pixel , "a piece of code on your website that helps you analyze, improve and develop audiences for your ad campaigns". It helps you retarget those who've already visited your website and have been engaged by your posts.
Here's how Facebook Pixel works: Facebook Pixel functions:
You add the pixel to your website code.
The pixel tracks which products visitors are interested in.
The pixel is used for remarketing and targeting these users through Facebook ads.
If they click on ads, they go back to the website, where they can complete the purchase.
In terms of the content for those advertising retargeting, the final moment is when you can intensify urgency and draw attention to any special offers.
Obe Fitness did the second by displaying this retargeted advert on my Facebook feed:
I've been to Obe Fitness' site before I even began to fill out their signup forms. Since I was near to converting, they retargeted me with a discount promo code as well as a CTA to sign-up.
When it comes to bringing urgency, a limited-time offer could encourage customers to buy -- and buy now. Eighty-nine percent of Americans think that a special offer will make them likely to shop with a brand, while 48% believe that the exclusive deal will make buyers buy more quickly.
Here are a few ways to integrate that urgency into your BOFU marketing:
Create a deal that lasts for a specific period of time you can then include an countdown timer to your page for products. This could lead to an 147% increase in sales .
If you're running a special-occasion sale be sure to inform your leads in the middle of the sales funnel. This might be the motivation they need to make the purchase.
It is important to focus on customer retention and not only acquisition.
It may cost more than seven times more to acquire an entirely new client than to retain an existing one.
52% consumers make it a point to go over and above to purchase from companies they've been loyal to for years.
Return customers tend to be nine times higher likely be converted as compared to a first-time buyer.
Many marketers think of preservation and advocacy being the 4th phase of their marketing funnel. If your customers are pleased with their experience, they spread their word about your brand or product, and those recommendations come into your funnel for marketing, and so on.
Create a funnel for your marketing toolkit
Each product, business, and audience is different. There's no universal marketing strategy that will magically make your conversions spike and the funnel to overflow in a flash.
If you can ensure that you keep the marketing funnel in the forefront of mind, you can better understand the customer journey starting with awareness and ending with purchase. When you know this, you will be able to get the right messaging in front of your leads in the appropriate time.
For a recap, here are the top marketing tactics to use at each step of the funnel for marketing:
Awareness:Focus on providing high-quality information that addresses your customers' issues and positions you as an authority within your field. Lead magnets and Facebook advertisements are a great way to go for this point.
Beware:Nurture your leads with the use of an email sequence, as well as social evidence. Let them know that the product you offer meets their needs.
The decision:Go for the hard sell. Make use of retargeting, special offers and a sense urgency to push your leads over the final hurdle.
The bottom line is Make sure to keep the customer's journey in mind every step of the way, and you'll soon be on the way to creating a funnel for marketing that can make your sales increase.