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5 Small Steps for creating a Sales Funnel

5 Small Steps for creating a Sales Funnel

5 Small Steps for creating a Sales Funnel

Sales funnel is one of the core concepts in digital marketing. If its analysis is properly, taken care of, and the holes its journey points out are duly and instantly plugged; then virtually even an obscure and almost non- existent entity can metamorphose itself into a multi-million dollar leviathan.

From Stranger to a loyal Customer

The name sales/ marketing/ revenue funnel is a bit misnomer,because, while in a funnel when something is poured in, it filters down towards one finite destination; but in sales, at the top, clusters of visitors arrive who may enter sales funnel but only a small fraction of those visitors re-emerge out from the other end. The path website visitors take on for buying a product or service is abandoned abruptly by a large segment of visitors after satisfying their inquisitiveness, so much so that some of them never leave the top of the sales funnel, while the residue reaches the very end. Thus, the journey of every sale starts with a large number of potential customers but ends with a much smaller number of people who actually make a purchase.

The curiosity demands why is a sales-funnel so important? In fact, sales funnel illustrates the path website visitors take before actually making purchases. By peeping deep into this journey of a funnel, we can detect the holes therein, i.e., the places where visitors drop out and never convert into purchases. Thus, we can visualise the customers’ journey from initial awareness all the way, through which one can analyse business and identify areas for improvements.

Stages

Generally, sales funnel stages can be divided into four sections, though they may vary from activity to activity.

Awareness:- This stage includes the largest number of prospective customers. This comprises the stage when a customer’s attention is attracted towards the product or service through any media of marketing viz, tweet, facebook, google or any other channel. The prospective customer gets apprised of your business and your product. The consumer may buy immediately if he had already done research work and is convinced that what you have offered is genuine, reasonable and competitive. It is a right — place,right-time scenario. But more often, the awareness stage is more of a courtship whereby you try to woo the prospect into returning to your site and providing you more business.

Interest:- When potential customers reach the interest stage in the sales funnel, they get engaged in research, comparisons, substitutes, and analysing their options. This is the stage where the number of prospective customers recedes, though the possibility of a sales conversion increases. The prospect requests for more information makes inquiries about the product as also the organisation. This is the moment when you should be equipped with incredible but genuine content to help them, provide every information and convince them. Do not be in a hurry to sell the product or service from the very beginning. This will turn off prospects and chase them away. The target, at this stage, should be to establish your expertise, help the consumer make an informed, decisive decision, and offer your assistance in any way they expect.

Decision:- Once the customer is convinced of the genuineness of the organisation and its product, feels his queries have been fully satisfied, then it is the time for him to make a decision. The customer is ready to buy but might be considering two or more options. Now is the time to make your best offer. It may be free shipping, some discount or any bonus product. It should be offered in such an irresistible way that your lead does not wait but plunge into taking advantage of it.

Action:-At this very bottom of the sales funnel, it is only the customer who acts. The product or service is purchased and the customer becomes a part of your business and its ecosystem. However, your effort should not cease here. Your aim is to incessantly, multiplying the leads and have to focus on customer retention. Express gratitude, follow for the feedback and assure that you are always available for technical support if need be.

Steps to build a Sales Funnel

Step 1– Analyse your audience’s behaviour — the more you know about your audience, the more effective your sales funnel becomes.

Step 2– Capture your audience’s attention — you should have the ability to lure and captivate your audience with your impressive and convincing interaction.

Step 3– Build a landing page — your ads and other content should be convincing, attractive and innovative; so much so that your prospects may have the feeling that they would be missing the offer if not then availed of.

Step 4- Create an email drip campaign — market to your leads through email regularly but not too frequently.

Step 5- Keep in touch — continue reaching to your existing customers, thanks to them for their purchases, offer additional coupon codes and involve them in your social media sphere.

Conclusion

Toconclude, the concept of sales funnel can make you emerge from an oblivious entity to a global powerhouse quickly through the art of scaling out a highly converting offer and winning the customer forever. Avoid shortcuts, do not implement hacks, and invest time to eventually reap the benefits and fruits of your efforts. Ultimately, perseverance pays. Creating and optimising a sales funnel takes time. Satisfy customers queries to impact conversions. Haste chases the customers away. Build out a sales funnel that represents what you want and also what your audience desires. Cultivate, adjust, adapt and last but not the least, find out why your efforts are not yielding desired results.


Marketing and Sales Automation

Marketing and Sales Automation

Automation refers to software that helps a business in optimising its marketing and sales action without any time lag.

All commercial institutions- from small retailers to big corporates, are using automation i.e., ‘combination of electronic and communication technology to expand their reach to a wide spectrum of clientele in order to handle larger volume of business with the desired level of efficiency, accuracy and effectiveness and to exercise a strict watch on costs with the ultimate aim of maximizing profits.

Marketing workflow

Through automation, independent activities are interlinked to form an integrated system by facilitating automatic transmission and processing of information. Many businesses automate repetitive tasks, such as email follow up, social media and other websites actions in order to nurture content and keep them constantly intact and in touch.

The yin and yang of a company i.e., sales and marketing have always worked together. However, though they might go hand in hand in the staple part, there is a huge difference between both the domains.

Their jobs, profiles, responsibility, process and so on are entirely different from each other. As such their automation is also different. Each of the two has its own specific utility and focus in the business world. Both marketing automation and sales automation have their own indispensable existence and importance in any business. Business units invest in both of these kinds of automation to improve marketing campaigns and add efficiency as also to help sales workers in the field by equipping them with advanced technology, better analytics, more agile hardware platforms and more sophisticated software.

Marketing automation generally comprises a software platform that supports a variety of marketing related activities, including automated email marketing, lead nurturing/scoring, ROI analysis, extended CRM capabilities and much more. Whether sales are conducted online or offline, marketing automation can result in the elimination of a lot of labour intensive process of digital marketing channel campaigns.

Marketing automation generally involves:

  • Social media marketing tools
  • Landing page resources
  • Direct mail marketing software
  • Lead generation tools
  • Web analytics program
  • Customer tracking tools
  • Email marketing automation tools
Marketing and Sales

By implementing a combination of most of these on a single automation platform, labour cost is minimised and business intelligence concerning certain marketing campaigns is acquired that leads to expansion of marketing strategies culminating in enviable results.

Sales automation often called sales’ force automation or SFA concentrates on assisting human sales agents. The tools and resources of these products are geared towards a complex sales process involving large volumes of sales. The main task of SFA is order processing. The ability to process orders automatically brings tangible value to both e-commerce and brick and mortar operations. This process may also extend to inventory monitoring tools and sales analytics, which too are no less valuable.

The two are independent but can easily complement each other, though either alone cannot easily cover up the job of the other. Neither of the two can replace the other but can work parallel to each other.

Marketing automation is focussed on customers that are loyal to the business or have the same prospect or mindset. The process analyses the stored data that help in curating the content to deliver the desired specific product. Let us say, if a customer signs up for automation newsletter, then the system will automatically send out the emails to him without you manually worrying about it.

Sales automation, on the other hand, focuses completely on targeted customers. Hence this will focus on those leads that have come up with the help of data analytics modules. Suppose, if a customer buys a product, then he would not purchase it again till the purchased product lasts; but the automated system would send out the options of the products that are related to the product- purchased and the customer might opt for those as well. This all would be done automatically with no manual efforts.

In both cases, you have to concentrate on information gathered, so that you avoid generic message and come up with something impactful and reliable. The content curated would suit the prospects’ preferences resulting in conversion. This makes sales automation more powerful with the involvement of Natural Language Processing and Artificial intelligence. Thus, combined together, though with independent fields to act, marketing and sales automation can save labour & time besides winning a satisfied customer, through automatic and instant liaison with him.