Whether you are a business person or just a simple guy, we all thrive for growth. It is the thing that keeps us motivated towards our goals. If we talk about businesses, just like us, they need to survive in the market. To do that, they need to be growing every day. This is why so many businesses are spending a lot of time strengthening all the factors that affect their growth. Marketing is one of those factors.
When it comes to marketing, funnels help a business achieve more by spending their efforts efficiently. If a business is marketing its products or services without a digital funnel, the chances of missing big opportunities increases. So what does this funnel actually mean?
A marketing funnel can be defined as a multi-functioning part of marketing. The basic thing that a marketing funnel does for a business is to increase its visibility. Funnels help a business in creating awareness of its presence in the market. This gives a business advantage over other competitors.
Not only this, a funnel tells the marketing team how they can approach and influence new customers. Funnels are the medium that steers the buyer’s journey in the right direction, towards you. Funnels are the reason a prospect will move from the awareness stage to the buyer stage.
Awareness Stage: That is where your prospect realizes that they are facing issues, and there are solutions somewhere to get rid of those issues.
Consideration: After realizing the necessity, this is where the prospect shows the possibility of an interest in a selected service or product.
Decision: In this stage, the prospect aggregates the list of top-notch businesses that can address their issues. During this, a prospect is presently centered around downsizing its list to settle on an ultimate conclusion and contact those planned companies for a conversation.
If a business is interested in the high growth rate, a marketing funnel is a key that opens the door of growth. All businesses have a desire for more sales and big profits. To reach there faster, you will need a marketing funnel.
In other words, it is like explaining a black hole or time warp in sci-fi movies. The initial dot is you, and the destination dot is your success point. Funnel is the one bending that paper and making a faster route to the destination.
But how does it do it? Well, the first step here is nurturing the leads in a personalized way. A customer loves a personalized approach and the funnel is not any different than others. But how can you personalize your approach? By learning more about your audience. When you start to know about them, you slowly start to digest the needs and requirements of your audience. Once you know this, you know who to target. This saves your time and efforts on uninterested audiences.
Knowing your audience does not end here. By investing a little more into your audiences, you start to understand their behavior. Once you get a hold of it, it becomes very much easier to close the deal by delivering solutions or services justifying their needs. To make it more successful, a company should invest in the right automation and analytic tool.
Nurturing and closing deals is not the only goal you achieve with a funnel. A funnel brings awareness toward the brand it is associated with. As said earlier, brand presence gives you a big leap over your competitors. With the help of the Internet, connecting with your customers is made a lot easier. A business can use mediums like emails and SMS to quickly attend to its customers.
Once you get a hold of your funnel and become the master of it, attracting more customers and understanding your prospects becomes easy. This results in a high rate of lead conversion. This is how a funnel helps a business grow its empire.
Even before establishing your funnel, you should be making a baseline for your funnel. It will give you an understanding of what is effective towards your audience, and what is not.
This stage corresponds to the first stage of the funnel, the awareness. Like, to increase the awareness you need bigger audiences, and to do that you need to gain new audiences. So start targeting new and unique visitors on your website.
If the funnel is here to improve you, it should first start with the flows you have. Whatever the issues it can be. Bounce rate, traffic, car abandonment, or any other. The funnel should focus on strengthening the weak point of business.
Based on the information gathered from the above three points you need to create a rough blueprint of your plan. This plan might get updated with time due to new findings, but it will act as the core plan.
This is the new finding I was talking about earlier. The metrics you will generate here about the market and your audience will help you build the final plan. Make changes according to these metrics and finalize the funnel. Consider all the essential factors like the budget, the channel for promotion before activating the funnel.
The Final Step
Once you deploy your funnel, start analyzing it at every step. Make a report of it and tally its performance. If it is not going as your plan, keep a backup plan always ready.
This is it. Now you are quite ready to develop a funnel plan for yourself. In case you have any doubts, feel free to drop us an email.