Do you have a website or online business? Are you looking to increase traffic, build your email list or convert your prospects? Well, if you answered yes, you certainly need a sales funnel.
However, you need to be able to build a successful sales funnel. To build a powerful sales funnel, you need to understand what is a sales funnel and how it works.
By definition, a sales funnel refers to a series of steps designed to convert business leads into paying customers. There are several things you can do using a sales funnel:
- You can raise awareness for your products, services or brand
- You can also stimulate your prospects’ interest in your products and services
- You evoke a buying desire by educating your leads on why they need your product or service
- You can also help leads perform a desirable action, and move them through the funnel until they become paying customers
Understanding your sales funnel is critical because you’re able to know the point at which visitors drop out before converting.
Having said that, let us now dive right into how to create a simple sales funnel for your online business.
Steps for Creating a Profitable Sales Funnel
If you’re creating a funnel for the very first time, it is advisable that you start creating it from the top. Below are the steps:
The first stage of building a sales funnel entails attracting potential customers. During this stage, your big job will be to create awareness about your brand and your products so that you can increase sales.
In essence, this stage focuses on generating the traffic that you need to drive conversions. You can generate traffic through:
- Creating valuable content
- Increasing your site’s visibility through SEO
- Paid advertising including social media campaigns and Pay-Per-Click campaigns
Related article: More ways to get people into your sales funnel
You demonstrate your value to prospective customers at this stage. Your work entails educating your visitors about how they will benefit from your product or service.
The idea is to pique their interest so that they can become valuable leads. In essence, what you’re trying to do is to convince them to perform the desired action, which can be either downloading a free ebook, purchasing your product or signing up for your free trial.
Strategies for this stage include:
Creating landing pages
You need to build a landing page that is relevant to your target audience. The reason you should set up a landing page is so that you can educate your visitors about your product, service or offer.
The landing page should have an attractive design. It should also draw attention to the benefits of your product, service or offer. A high converting landing page is one which has the following features:
- Enticing headline
- A convincing value proposition
- An effective call to action or CTA
Testimonials and reviews
These help to provide your potential customers with valuable insight into your business. Testimonials and reviews will help you win the trust of prospective customers and increase your conversion rate.
Offers and lead magnets
This is a great way of not only turning visitors into leads but also increasing the conversion rate. This strategy entails offering something of value to your visitors so that they can share their personal information such as email addresses.
A lead magnet can be anything such as free ebook download, 30 days free trial of a service, a free guide, cheat sheets, resource list, discounts for signing up, among others.
The lead magnet can be part of your landing page or home page. You can also opt to have it as an overlay, specifically for the offer. This will allow your visitors to pay attention to one thing at a time, thus increasing the conversion rate.
Lead nurturing is a critical step in building a successful sales funnel. Nurturing your leads helps to ensure that you maintain a strong relationship with your potential customers.
It is especially very important to nurture leads once they get into your sales funnel. The idea is to maintain a relationship that will encourage your potential customers to make a buying decision.
Strategies for nurturing leads include:
- Thank you page, which will pop up after your potential customers have claimed your lead magnet
- Email reminders, particularly reminding your potential customers about the deadline of a free trial. In your email, you can let your visitors know that they will get a discount for getting the paid version of your lead magnet
- Retargeting ads, which are meant to retarget those who did not convert into buying customers. You can use social media ads for products they may have viewed or added into their shopping cart but failed to buy
The final stage is to build a sales funnel that nurtures your customers’ loyalty so that they can become repeat customers and send referrals. It is important to note that 40% of your revenue will probably come from repeat customers.
Strategies for converting one-time buyers into repeat customers include:
- Doing follow-ups
It is important to find out if your customers are satisfied with your product or service. In the event your product or service does not meet your customer’s expectations, you can increase loyalty by offering a refund or replacement.
- Offer a referral program to your customers
The above are the most critical steps for creating a powerful marketing funnel. However, should you feel that the above components are not fully meeting your needs and goals, you can always add more components.