From Leads to Conversions - The Impact of Funnels
When it comes to generating leads and turning those leads into paying customers, no brand has a one-size-fits-all strategy. Marketing funnels help marketers sort, evaluate and rank leads so they can be nurtured at crucial points in the journey. This process requires strategy, cross-team collaboration and a lot of experimentation.
The top of the funnel, also known as awareness, involves attracting potential customers to your business and getting them familiar with what you have to offer. This is typically done via marketing campaigns, reputational improvement efforts and other tactics that promote brand awareness. Often, this stage is best served by creating high-quality content that outlines the problem you can solve for your audience. The goal here is to grab attention without being pushy or interruptive. The most effective tactics to use at this stage are email marketing and a solid content strategy.
Once a potential customer is aware of your product, they are likely ready to explore its features and benefits. This can be achieved through a well-crafted landing page, blog posts and videos that showcase the value of your offering. To entice customers to move further down the funnel, try using tactics such as a free trial or discounts to encourage conversion.
Next, prospects will need to make a decision about whether or not your product is right for them. This can be facilitated by an online order form that takes the guesswork out of purchasing. This allows prospects to purchase directly from your website or social media channels and can be a great way to increase your recurring revenue.
At the middle of the funnel, prospects are more serious about buying. This is where your sales team can step in to help make the conversion happen. At this stage, it is important to use the customer data you have captured to provide targeted, personalized messaging that nudges potential customers towards conversion. For example, if a prospect has already visited your pricing page, you may want to use their data to show them a discount or special offer that is specific to them.
As your prospect becomes a customer, it’s important to retain them and make sure they come back for more. This is the final stage of your funnel and can be accomplished through a number of strategies, including loyalty programs, targeted emails and rewards-based promotions. Often, it is much more cost-effective to retain existing customers than trying to attract new ones.
This will help you to reduce customer churn and improve your customer lifetime value. Identifying and removing conversion blockers is essential to optimizing your funnels. You can do this by tracking the performance of each touchpoint in your conversion funnel. If you are seeing an uptick in branded search queries, website conversions or other metrics that are closely tied to your business value, this is a clear indication that your efforts at the top of the funnel are starting to pay off.
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