In an increasingly digital world, everyone’s shouting from every rooftop trying to get noticed by future clients. What’s going to make you stand out from your competitors? At 3PM, we know that knowledge can be your superpower. Knowing your customers, what makes them tick, and how to keep them coming back for more will mean higher profits and bigger smiles all round.
What is a sales funnel?
To put it simply, a sales funnel is the path your customer takes; from locking eyes with you for the first time to making a purchase. Sales funnels exist in every business, whether you operate a coin laundry or a boutique furniture store.
In real life (IRL), 100 people (at the ‘top’ of your sales funnel) might walk by your shop every hour and 30 of those decide to walk in. Those 30 people are now in the next stage of the funnel. A handful of customers then browse your shelves – entering the next stage. The last step, at the ‘bottom’ of the funnel, involves purchasing a product or service from you.
The importance of understanding your sales funnel
Getting a grip on your sales funnel means knowing what path your customers will take and help you spot ‘leakage’ holes. Where are customers dropping out of the buyer journey and why? Knowing your sales funnel inside out means you can optimize your business to be the best it can be.
A 2017 study published by Harvard Business Review found that companies that create an easy buying process are 62% more likely to achieve a high-quality sale.
Wondering how to optimize your sales funnel and get your revenue to where it should be? It’s not as complicated as it sounds.
Do you know who they are?
Without knowing who your audience is, how can you make them truly happy? Targeting the wrong customers can mean wasted efforts or result in confused marketing messages.
Hubspot have this free template to help businesses create buyer personas to attract high-value visitors who you’re more likely to retain long-term. Really understanding who your customer is will drive your content creation, product development, and the way you communicate with audiences. After all, to generate leads, you need to know what your leads look like.
Capture their attention
Whether you have to grab a megaphone or write weekly blog posts, the way that you get noticed by future buyers has to work like a magnet. For companies operating predominately online, creating captivating, educational content that directs customers to engaging sales landing pages can be a really effective way of doing that. What problems do your customers have? How can you help tp solve them?
Nurture your leads
Once you’ve generated leads by getting to know your ideal customer and capturing their attention, you’ve got to treat them well. Are you offering a bowl of peanuts while your competitor is taking them for a seven-course degustation?
Learning how to optimize your sales funnel at every stage is all about proving value. Customers at this stage are looking for more information about your product or service before they make the decision to buy. That means informing your audience through case studies, testimonials, targeted ads, email campaigns, and even free trials.
What’s your unique selling point (USP)? Why are you the best business for them? Is there something you can offer your prospects that they can’t refuse?
Up your CTA game
At this stage of the buyer journey, your future customer needs to know exactly where to click, why to click, and where that click will take them. An effective call to action (CTA) inspires your customer to move to the next stage of the funnel; to seal the deal and make a purchase.
CTAs should stand out visually, be in a prominent location, and use action-oriented copy such as ‘buy’, ‘start’, ‘book’, and ‘schedule’. If someone’s at the bottom of a page, don’t make them scroll alllll the way back up again to find the ‘buy now’ button – make it easy.
The truth is, however much traffic you’re getting to your business, the majority of those people won’t be ready to convert straight away. Optimizing your sales funnel effectively means turning prospects into actual customers.
A water-tight sales funnel will give you a real edge over your competitors and stops you shooting into the dark. It’s all about putting yourself in the shoes of your customer at every single step and figuring out how to make it a smooth, memorable experience. It also means treating them well AFTER they’ve sealed the deal with you, so you can bring them back into the funnel and encourage repeat custom.
Looking for expert, tailored advice about generating more leads and increasing your revenue? Drop us a line at firstname.lastname@example.org to chat to our awesome team.