Four (4) Actionable Steps to Mastering your Sales Funnel
It is every business owner’s dream to have all marketing campaigns and strategies convert to sales. To make sure that this dream not only comes true but to replicate sales repeatedly, a business owner must master the art of building a sales funnel. The understanding and implementation of the concept of sales funneling can be tremendously beneficial to any business.
Sales Funnel is a combination of steps a prospective customer takes in order to become an actual paying customer. This process begins from the moment a customer becomes aware of your brand to the moment when a customer takes action to buy your product or service. The ultimate goal of a sales funnel is to transition customers from one stage of the sales funnel to the next until the customer makes a purchase.
There are four (4) steps a customer goes through in order to become a paying customer. These sales funnel steps are: awareness, interest, decision, and action. Here is a breakdown of what happens during each step and what you can do as a business to maximize each customer’s desire to move on to the next step.
AWARENESS: This is when the prospective customer first hears about your brand, product, or service. It could have been an interaction with your product at a friend’s house, a social media post, or a google search. During the awareness step, this customer becomes aware of the solutions your product or service could possibly provide for their problem. This customer’s willingness to move down to the sales funnel is largely dependent on your ability to effectively engage.
A combination of these tools will help raise awareness of your brand and set the stage for your sales funnel: content marketing, public relations, social media, email workflow, paid advertisement, and Search Engine Optimization (SEO).
INTEREST: When a customer moves down through the sales funnel to interest, it means that this customer is deliberately seeking solutions to their problem and finding ways to implement the solution. This customer actively shows interest in your product. This interest can be shown through following you on social media, subscribing to your email list, and browsing through your website. It is also good to know that while the customer might show interest in your product, it is also at this point that they are conducting research on your competitors.
You can use these tools to gain a competitive edge against similar businesses: landing pages, e-books, case studies, free tools, newsletter advertisement, and advertisement content.
DECISION: At this point, you can make a safe bet that this customer will become a paying customer. The keyword here is safe, not sure. Now, your customer has the most pertinent information about your business or product. During the decision phase, a customer will begin to seek a proposal, join a webinar, ask for a free consultation. This customer is paying attention to your products, various pricing, promotions, and offers. As a business owner, this is when you take a firm and persuasive step to sway your customer to reach for their wallet and make a purchase.
You should implement these persuasive tools to sway your customer to the next step: email marketing, free trials, promotion offers, free consultation, demo bookings, and webinar workshops.
ACTION: Congratulations! You have a paying customer! This is when your customer is paying for your product, signing a contract, and clicking the purchase button. At this point, as a business owner, you want to set your customer up for success. This is done through the provision of education materials or how-to guides.
Here some helpful tools to use when a customer gets to the level of taking action: follow-up email campaigns, bundled packages, payment tools, customer reviews, loyalty programs, and retargeting.
A notable reminder is that once your customer goes through these four steps, you have to keep working on building and maintaining this relationship through customer retention activities. You need to make your customers happy and loyal to your brand. Increasing your customer retention rate can bring about a positive change of 25% to 95% in profit. There is no straightforward or formula approach to building a sales funnel. However, integrating these steps into your sales funnel will help maximize your leads conversion rate.
Do you need help with curating a sales funnel that yields a high conversion rate? Book a consultation with MOHBILITY today.
MOHBILITY is a Los Angeles based digital marketing agency specializing in digital marketing, workflow automation, and web-based services. Visit us at www.mohbility.com.