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What is A Marketing Funnel
If you want your business’ sales process to run as efficiently as possible, you absolutely must get your marketing funnel – the process of converting a visitor or browser into a paying customer – right.
If you want your business to produce consistent sales as well as grow, you must have a marketing funnel. This is the process of turning a visitor or browser into a paying customer.
A marketing funnel is a way of breaking down the customer journey all the way from the “awareness” stage (when they first learn about your business) to the “purchase” stage (when they’re ready to buy your product or service). Often funnels can also include upsells and cross-sells to maximise profit.
Awareness & Interest
The first step is to drive traffic to your website or landing page. The job of the marketing is to get the traffic and then convert them into leads. Leads meaning someone that has shown interest in your products.
For example, some online stores will give you a 20% discount code if you put in your email address. When they have your email address, you are now considered a lead. What happens next?
Now that you’re a lead, this information gets passed on to the sales process. Depending on what the business sells, the sales process can be automated or can be through a salesperson.
For example, a car dealership will pass your details to a salesperson who will follow up with you, By booking a test drive all the way till you make payment. An online retail store might just send you a sequence of automated email. Which might include tips, discounts and promotions. The purpose is for you to make a purchase on their website.
Finally, the operations or fulfilment will make sure your products are delivered. And your details will also be used to upsell, cross-sell and ask for a referral. Or they might even enter you into a different marketing funnel for a completely different product.
The important thing here is that it usually starts on a landing page and they ask for your email address in exchange for a free gift what businesses call a lead magnet.
Components of a Simple Marketing Funnel
A simple marketing funnel usually includes the following:
- Lead magnet or your gift in exchange for an email address
- A landing page where they can opt-in for your lead magnet – not the homepage
- Thank you page – after they enter their email address
- Email sequence – a series of email which includes a thank you email followed by promotions or educational with the aim of buying your main products
- Email autoresponder – a software that will send your emails out automatically
Simple Marketing Funnel Design
As the summer tails off, you start thinking about a new coat. You whip your phone out and start googling the latest coats.
You visit mango.com and you’re welcomed with the following screen: “Subscribe now and get 10% off new collection garments”
10% off for just adding an email address? You enter your email address, knowing that you’re just ‘browsing’. After a while surfing different websites, you decide to give it a rest.
The next day at work, you receive an email from Mango showing off their latest coats. You see one that catches your eye. With the 10% off and a 7-day refund policy, you decide to make the purchase.
Don’t Lose Your Customer To Competitors
This is a typical marketing funnel that millions of people go through every day. You see, 90% of people aren’t ready to buy when they visit your website. If you don’t have a lead magnet and they leave your website. You’ve most probably lost them to a competitor who captured their email address. Just like Mango.com.
Instead of losing them forever, you can offer them a gift in exchange for their email address. A gift that doesn’t cost you anything and is automated like a coupon or a free pdf download.
The first step to building your own marketing funnel, is to create a lead magnet.