Understanding Conversion Funnels
What is a Conversion Funnel?
Creating an effective sales funnel is the process of turning people who don’t know about your business, brand or product, into supporters, followers and – importantly – customers.
It’s highly likely we have all gone ‘down the funnel’ of one business or another, arriving at the point where we make a purchase or sign-up for a service.
Having an effective ‘funnel’ means you have a solid strategy in place to get people to become your customers and clients, consistently.
Being able to master this for your business is one of the key parts of digital marketing. In fact, it often is the main part, with everything else like social media, advertising, and content creation all ‘plugged in’ to the funnel.
Funnels can vary from business to business based on what your aims and targets are, but a simple and effective four-stage funnel strategy could look like this:
Think of it as a literal funnel and the further people go down the funnel, the most likely they are to become customers.
The first part, sometimes called the top of the funnel, focused on the awareness of your brand, product or service.
It’s at this stage you aim to attracts as many of your target audience to see or, ideally, begin to engage with your business.
This is often done through social media posts, blog posts, tips and advice, podcasts, etc. Give your audience something they can ‘take away’ thanks to your brand, ie knowledge or advice.
The next stage is when you take as many from the first stage and move them further towards you goal of them becoming a customer. Here you look to engage more directly with your potential customers and give them an opportunity to evaluate your business and offer, as more committed followers, and nurture them towards the next stage.
This can be done through content more specific to them and their needs, such as case studies or reviews, webinars or buying guides, sometimes referred to as Lead Magnets, to gain further information to enable you to contact them further.
The next stage of the funnel is where the business happens. This is where you aim to convert those who have made a conscious commitment to engage with your brand into those who become customers.
This is through your all-important offer that perfectly suits the prospective customer, at an attractive/irresistible cost to them.
The final stage of this simple funnel strategy is focused on retention, building, and nurturing your relationship with your customers so they stay as customers in future, whether that’s extending subscriptions, replenishing previous purchases, buying other products or services, or referring other customers to you.
This can be done through maintaining a regular conversation, providing support and advice, updates and announcements, and encouraging loyalty through programmes and offers.
There are other alternative, and sometimes more complicated, approaches you can consider for your conversion funnels, and will depend largely on what your product and business is, but this example is a simple and often effective strategy.
If you would like help in developing your conversion funnel so you can get more customers and leads into your business, contact us via the form below to help get you started…
At We Are Border, we’ve been running and managing digital marketing campaigns and content strategies on social media accounts and websites since the early 2000s, so have loads of experience and knowledge to help you and your business grow.