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How To Understanding the Sales Funnel ?

Something of a science that is hidden from a customer’s eye but subconsciously present in every person out in the market or on the web ready for purchase is that DECISION of buying something. Inducing a purchase in a customer through effective digital marketing is half the task. Making that sale happen is the other end of the half.

Companies go through a severely exhaustive process of persuading a person to purchase a product called revenue or sales funnel. Led by some bookishly demanding steps from awareness of that product to a repurchase of that same product also called creating loyalty, this process mostly confirms your target group which was first established during the “people” stage of your 4 P’s. Let’s dive into the steps and further study the application of the Sales Funnel. Finding the right definition or steps vary over the internet but since this applies effectively to online commerce, we will be exploring those options here.

The sales funnel literally goes for a funnel approach which means it goes broad and narrows down to the end objective which is making a sale from the right people. The steps that it entails are as follows:

  1. Awareness
  2. Discovery
  3. Interest
  4. Evaluation
  5. Engagement
  6. Decision
  7. Action
  8. Loyalty/Repurchase

Awareness

The first stage of the funnel is when the potential customer is facing a problem and needs a solution. That means he is looking for choices and alternatives of the product he wants to buy. He might give the product a search over the internet and might also be looking at dozens of relevant websites and even hundreds of ads for that product which leads us right into the second step of the funnel.

Discovery

At this stage be assured that the customer has discovered you through you effective content of ads and is browsing for a possible option on your space or portal. Remember that he is at your shop or portal after a lot of browsing in the cyber market and is willing to buy if your offer is right. Welcoming him to a proper space is something this step should consider. Also remember that the customer is as easily to move on to some other place as easily he came here to browse in your space. Hence, it is the business’ job to give a warm welcome to him with relevant and accessible information.

Interest

Here the customer is interested in your offering and will probably stay on you portal for a longer time. He might also follow you on social media and give you a ton of queries to answer which only shows his interest in your offer. The best you can do here is follow back and reply, gauge his interest and try to get him to evaluate your product.

Evaluation

Here the customer is trying to match for options for purchase between your product and that of others, matching benefits, his own pocket, and aftersales advantages. This step is easy but land on the customer’s choice alone to proceed. Usually, there is some back and forth between him and you and other vendors because the customer is a little confused as to which option to go for.

Engagement

While it is important to bring a decent and accessible space to your customer, it is also equally important to engage him with webinars, subscription letters, news and blogs. That also involves picture and videos for relevant products on your own social media which he might be following or on an email address which he might have submitted for a newsletter.

Decision

Finally, once he realizes that your offer is what he will be going forward with, he will be pushing that purchase button and contracting with you via an agreement which will make him your customer

Action

Here the sale is made and the customer is yours but temporarily, unless we ensure a few steps and keep him coming back whenever he is on the stage of ‘awareness’ for something else. Bring him regular BUT relevant information via newsletter and text messages so that whenever he is looking to buy something from you, he comes to YOU. Also, do not annoy the customer. Understand his needs and look at what he bought. If he bought a laptop and took his time in buying it, asking you a dozen questions before the purchase, then he will probably not buy another laptop for at least a year (safe to assume). However, if he bought a video game or a car maintenance kit, you should engage him with relevant products instead of bombarding him with laptop offer which are only going to annoy him.

Loyalty

The previous step, if done right, is going to lead you to some loyal customers. Beware that loyal customer last longer than regular customer but if you slouch now, they will bounce. We do not want that. Bring your customer some after sales service offers, a phone call once every two months is enough to keep some brand retention and recall in his mind.

CRO – Conversion Rate Optimization

Once you study your sales funnel in depth, you are ready to dive into one very effective method of marketing for internet customers and that is conversion rate optimization. Following some basic steps like reduction of page scrolls, fewer on-site 3rd party advertisements, a bright green or blue purchase button, easy carting and believable photo library of products, will ensure that your customer is well on track to stay for longer times and even add something of interest to their cart. He may not make a sale immediately but he may bookmark you, follow your socials and so on which is a decent first step in staying relevant.  

 

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