What are marketing funnels? (A guide for creators) |
Do you want to improve your conversion rate and sell additional digital items? A funnel for marketing is a great tool. This is how it works.
You've created a digital item which you are confident that your customers will love. It's full of actionable guidance and expertise, and it has the potential to make a real difference in your customer's lives.
So why isn't it flying off shelves (virtual) shelf?
Your marketing strategy might be at faultin particular if you do not have a plan to get your customers from point A (discovering your products) from point A (thinking about buying it) until point C (becoming satisfied and loyal customers).
Marketing funnels are where they come in.
In this piece we'll discuss the reasons why funnels for marketing are a essential tool for creatives. Then, we'll share the most effective marketing strategies that you can employ at every stage of the funnel.
But first, let's be a bit more reflective and answer the question on everyone's minds: What exactly is the definition of a funnel for marketing?
What exactly is a funnel for marketing?
The marketing funnel maps out the path a prospective buyer (or "lead") is on from their first interaction with your business until they buy.
How a lead will be placed at the end of the funnel will depend on their level of familiarity with your product or brand and how close they are to making a decision.
Different companies break their marketing funnels into distinct stages. We're going to keep it simple by using a funnel with three stages depicting the buyers' journey from awareness to conclusion.
Awareness:They're just starting to find your brand or products. These leads know they have an issue, but don't know what alternatives are readily available.
Consideration:These leads are evaluating different solutions. They're trying out if your product will solve the issue and whether they can trust your brand.
Choice:These leads are ready to purchase They just require additional push in order to be customers.
There are also a lot of phases of the funnel broken down into TOFU, MOFU, and BOFU. These are the top of funnel and middle of funnel and bottom of funnel. The further down the funnel a lead is further down, the more close they are to converting.
Once you've figured out what a funnel is and what it is, how can you tell it's essential for marketing?
What are the reasons you require an effective marketing funnel?
Using a marketing funnel will help make your marketing more effective and effective.
This is what I am referring to: As a creator, your time is among the most valuable resources you have.
Most small-scale businesses are able to spend fewer than five hours each week working on marketing. In the event that you're limited on time and resources to spend on marketing your online business, you can't afford to make a guess as to what content is likely to be a hit with your customers.
That way, you don't end up pitching a hard pitch to someone who recognizes your brand.
Brian Clark, digital marketing expert and the founder of Copyblogger, explains: Copyblogger, explains :
"We don't dive into directly selling to every audience member that interacts with our material. Instead, we utilize a variety of strategies -- both direct and indirect -- to make a compelling case for our product when the time is right."
Plus, customers expect relevant content:
90% of shoppers tend to buy from companies who offer relevant deals.
Sixty-three percent of users will be more positive of a company if they provided them with more useful informative, engaging, or pertinent information.
If you can send leads the right messaging in the appropriate time It pays off targeting users with relevant specific content that matches where they are in the buying process may result in 72% more the rate of conversion .
Ready to turn more cold leads to paying customers? We'll look at the most effective marketing tactics for each stage in the funnel.
How can you promote your digital product at every phase of your funnel
Awareness: Draw leads in by using lead magnets as well as advertisements on social media.
At this point, people aren't ready to even contemplate buying a product. They're looking to find out more about their pain points and the solutions that might be out there for their needs.
Offer these prospects the info they're seeking by providing high-quality content that addresses their pain points. The valuable content will help to promote your brand and establish you as an authority in your niche.
Take Ryan of Signature Edits as an example. Signature Edits provides presets, templates, as well as training to their photography enthusiasts.
Ryan is aware that different photographers have various issues, which is why Ryan has two leads: A candid pose guide and an Free sample of editing tools for 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 helps Ryan ensure that follow-ups are much more relevant and targeted.
For example, if someone opts to sign up for one of the editing tools for photos, Ryan knows that editing is a point of interest and perhaps a source of pain- for that person. With that info on hand, Ryan can confidently promote his editing software to the lead.
The creator Minessa Konecky of Direct to Success uses interactive quizzes to attract new leads to her sales funnel and offer them a personalized customer experience.
Utilizing the the quiz software Interact , Minessa created an online lead generation game for discovering your business's biggest blocker to attract and learn more about prospects for new leads.
After someone takes her quiz, Minessa segments them into one of three groups:
In a state of overwhelm:Small business owners with lots of work to complete and who aren't sure how to spend their time each day.
Professional midlife:Entrepreneurs who know what they require to know, however, they aren't sure how to connect the action things into a strategic.
Perpetual procrastinatorsPeople who know the things they must do yet aren't able to start independently.
Based on the group each lead falls into, Minessa moves them through the funnel, offering three of her free mini-courses.
Once they are at the bottom in the funnel will introduce leads to her two primary products. She then encourages them to buy one of her items or to join her club, The Squad Academy .
A final thing to remember before we move on towards the middle of the funnel How can you make sure that you are able to ensure that these lead magnets get in front of your target buyers?
Social media ads are an effective way to promote your lead magnets -- especially on Facebook.
Here's why: Facebook ads generally have an lower price and better return on investment than other channels, so it's one of the best social media channels for small-sized businesses.
Additionally, Facebook has some of the most specific audience targeting features out there. Like, Lookalike Audiences allow you to target users who are similar to your existing customers.
Take one of your current audiences for example, blog users or students in online courses and use Facebook to search for more like that one.
To learn more about how Facebook ads can help you fill your marketing funnel take a look at these tools:
OK, with the top of the funnel covered you're now ready to move on to the next step: considering.
Be aware of the need to nurture leads through the use of email marketing
When they are in the process of considering, prospective customers are researching and comparing several items. They know what their problem is, and are aware that there are a myriad of solutions available to address it.
Your job is to make them realize that your product will be the ideal choice. It's time to nurture those leads.
I can't stress enough the significance of nurturing leads. In a world where 80percent of all new leads don't translate into sales, nurturing your leads may mean the difference between skyrocketing revenues and a shaky sales performance.
Still not you are convinced? In the average, leads who have been nurtured have greater purchases of 47% and result in a 20% increase in sales opportunities than non-nurtured leads.
With an estimated ROI of $42 for each dollar spent Email is among of the most affordable and adaptable marketing tools for use, especially when you're a small-business manager with the funds to back it.
So, now that your prospects have signed up to your email list now is the time to put the leads in a nurture sequence.
Email 1:Introduce yourself and get your customers to begin thinking about the issue you're planning to address for them.
Email 2.Now the prospect you are talking to is pondering the issue, share some valuable insights with them in order to assist them take the first steps toward getting it solved.
Email 3:It's the time to announce your program. Write down what your course can offer and why it could be the perfect solution for them.
E-mail 4:You've completed your initial proposal, but your prospective client may have doubts. Respond to some of the important concerns they may have regarding your course.
5. Email:Make one final pitch. Tell them why they must take action now, and encourage them to get in touch with you for any further questions.
Every email has a distinct reason. Once we get into the emails 4 and 5, the lead is in the stage of decision making, but the actual selling doesn't occur until the fifth and final email. You want to gently guide your lead toward converting -- not shove them into the middle of the ocean.
The middle of the funnel is also an excellent moment to discuss the social proof you have with your leads.
Coined by Dr. Robert Cialdini in his well-known publication Influence The idea of social proof is "we view a behavior as appropriate in a particular situation to the degree that we see others performing the same behavior".
In other words, when leads see that people just like them are seeing results from the product you offer, they'll want to join in the action.
In the case of marketers, using social proof is about including reviews and feedback throughout the sales funnel but especially during the consideration stage. Here's why:
90% of buyers read testimonials and online reviews when they're considering buying.
Eighty percent of consumers believe in online reviews in the same way as personal recommendations.
72% of consumers say that positive testimonials and reviews boost their confidence in a business more.
Alright, you got through the thought stage, and the sale is just so near that you taste it. Let's cross that finish line.
The decision: Convert leads through Retargeting and promotions
The decision stage is the end of your funnel for marketing. At this point, your marketing should make converting the target market a simple task.
How do you get your athletes to cross the finishing line?
One of the most effective BOFU tools for marketing is retargeting.
Have you ever glanced at shoes on an online retailer, then clicked over to Facebook only to find those same shoes advertised on your newsfeed? That's retargeting.
The retargeting method works via Facebook Pixel. Facebook Pixel , "a piece of code on your website that helps you analyze, improve and create the audiences you need for your ads". This allows you to retarget people who've seen your site's content and been have been engaged by your posts.
Here's how the Facebook Pixel functions:
The pixel is added to your web page's code.
The pixel tracks which products people are looking at.
The pixel is used for remarketing and targeting the users via Facebook advertisements.
If they click on ads, they go back to the website, where they can complete the purchase.
As far as the contents for retargeting ads, the decision stage is the time to increase the urgency and emphasize any special offers.
Obe Fitness did the latter through serving this retargeted advertisement in my feed on Facebook:
I've been to Obe Fitness' site before and have even begun to fill out their signup forms. Since I was near to making the switch, they targeted me with a discount code and a CTA to sign up.
When it comes to bringing urgency, offers that are limited time could encourage customers to make a purchase- and buy now. Eighty-nine percent of Americans say that an offer of exclusivity would increase their likelihood of shopping with a brand, while 48% believe that they would be more likely to purchase if an exclusive offer made customers buy earlier.
Here are a few ways to integrate that urgency into your BOFU marketing:
Make a promotion that runs for a short period and then put the countdown on the product's page. The result could be an rise of 147% in conversions .
All in all, if you're offering a sale that is limited in time Make it clear to those who are at the bottom the funnel. This might be the motivation they need to make the purchase.
You need to prioritize customer retention, not just acquisition.
It can cost more than seven times more to acquire an entirely new client than to retain an existing one.
52% of customers make it a point to go out of their way to shop at companies they've been loyal to for years.
Return customers tend to be nine times more likely to purchase as compared to a first-time buyer.
Many marketers view preservation and advocacy being the fourth step in the funnel of marketing. Your customers have a stellar service, they share their message about your company or product. Those referrals are incorporated into your marketing funnel and so on.
Add a funnel to your marketing toolbox
Each product, business, and audience is different. There's no one-size-fits-all marketing hack that will magically make your conversions spike and your funnel grow overnight.
If you can make sure that the funnel for marketing is top of mind, it will help you better understand the customer journey starting with awareness and ending with the purchase. Once you are aware of the process, you'll be able to put the right messaging at your potential customers in the appropriate time.
In case you're wondering, here's the top marketing tactics that can be used at every stage of the funnel for marketing:
Be aware:Focus on providing high-quality content that addresses your audience's issues and positions you as an expert within your industry. Lead magnets as well as Facebook ads work wonders for this point.
Beware:Nurture your leads with an email sequence and social evidence. Help them feel confident that your service meets their needs.
Decision:Go for the hard to sell. Retargeting, discounts and a sense urgency to propel your leads over the finishing line.
The bottom line is Remember the journey of a customer in mind every step of your way and you'll be in the process of creating a marketing funnel that makes your sales increase.