If you are reading the words ‘Customer Conversion Funnel’ for the first time, it sounds like a big theory with difficult concepts to understand. But as a business owner or a marketer, you have been using the customer conversion funnel concept in your daily life since the day you started your business. so what exactly is a customer conversion funnel? Let’s check it out.
What is Customer Conversion Funnel?
The customer conversion funnel is the term used to describe a customer’s purchase journey from knowing your business to choosing your product or service. The purchase journey starts with a large number of people becoming aware of your brand and ends with a handful of them choosing to buy your product or service. Since this journey is wide when it started and tapers till it reaches its goal, the customer conversion journey is known as the customer conversion funnel. The customer conversion funnel is broadly classified into four parts. So let us understand each part separately and how it’s correlated.
The very first stage of the conversion funnel is where the customer becomes aware of your brand and products. In this stage, a potential customer is on the lookout for the types of products and services that you provide. Here, the customers would have various options available. What you need to do is make them aware about your product or service that they are looking for. This can be achieved by deploying marketing strategies that focus on simply creating your brand’s awareness among the masses. In this stage you only make the customer realize that you are a brand that can fulfill the customer’s needs.
The customer is now aware of your brand. What must they do with this knowledge? If you used the right marketing strategy, the awareness of your brand should now move towards the next step, wherein the customer should now be interested in your brand. Such interest will not build on its own. With your customer now in the second stage of the conversion funnel, you need to plan marketing strategies that will evoke the customer’s interested into knowing more about your brand and products.
After evoking the interest of your target customer in your brand and product, you move on to the next stage in the customer conversion funnel, that is consideration. This stage is often mistaken with the stage of interest as they are very similar. However, the stage of consideration is a juncture at which the customer is not only interested in your business but also motivated to buy from you. To inculcate that level of motivation in your target customer, you now need to give them an incentive. This incentive should be such that it will make the customer keen on opting for your brand as opposed to others. It could be a promotional discount for first-time buyer.
Conversion is the last stage in the customer conversion funnel. This is the final stage as this is where the customer decides to buy your product or avail your service. It takes a lot of thinking and contemplating for the customer to finally reach this stage. To sum it up, all your marketing efforts to make the customer aware of your brand and consider your brand finally reaches its end goal when the customer buys your product or service.
Mastering the Awareness Stage
Now that we know about the awareness stage in the customer conversion funnel, let us understand how you can use this knowledge to create a strong brand awareness for your business. Since this stage is all about spreading your brand name, selling your product or service is not the main goal. So to spread your brand among the masses, you need to promote your brand name in such a way that they not only become aware of you but also trust you. Since simply being aware of your brand is never going to lead the customer to the second stage of the customer funnel.
To make the most of the awareness stage, you need to use tactics that will portray you as an expert in your field and attract your target audience towards you. For this purpose, you can try the following:
1. Feed Content
Image Source: pixabay.com
If you plan to use the concept of customer conversion funnel to promote your product online, there is one thing you should keep in mind. The masses on the internet are content hungry. When they browse they look for content that will help them. At this juncture, you should make your move and introduce your brand through simple content marketing strategies. Take up blogging. Business blogging has changed the face of online marketing by being a strong tool in helping businesses create awareness about their brand. More than 409 million people read up to 22.2 billion blog pages every month. All you need to do is publish blogs on topics related to your business on a regular basis. For example, if you own a plumbing business, take up blogging and publish blogs on a biweekly basis. Cover the pain points of your target audience such as leaking faucets, pipe maintenance, etc. To make your job easier, you could use free tools such as Buzzsumo to find the best topics to write on. Another traditional yet very helpful method to spread the word about your business is public relations. Writing an online press release and publishing it on news websites related to your industry will be helpful.
2. Build Social Network
Image Source: pixabay.com
It’s the age of internet and social media. With more than 4 billion users using social media platforms, many businesses are considering social media marketing to reach the maximum audience. Social media marketing not only works well in the awareness stage but also the consideration stage. It depends on how you use it. For the awareness stage, social media platforms can be used to reach out to the target audience who have queries that can be solved with your business. For example, posting tutorial videos and infographics on your fitness center’s Instagram page can get you the much-needed attention of fitness enthusiasts. You could also occasionally post pictures of your company events and outings.
3. Try Paid Advertising
For a small price of every click that you receive, you get to share your ads on prominent websites. This gives you high visibility at a small price, as prominent websites are often visited by many visitors. PPC advertising also displays your ads directly on the search engines, which gets you immediate traffic looking for your services.
Mastering the Interest Stage
Now that the customer is aware that your brand exists among the many other brands that provide the same service, it’s time to stand out. You now need to get the customer interested in your brand over all the other brands providing the same product or service. To make this possible, you need to focus on the following:
1. Design Landing Pages
Once the customer is aware about your brand, you now need to invoke the interest. Let us assume that the customer got to know about your brand through your well-drafted blog or an engaging social media post. How will you build the customer’s interest in your business? By providing more information and a probable action. Generally, when you use content marketing or social media marketing to build awareness, you will be adding a link for more details. Use this link to direct the users to relevant landing pages. Landing pages are web pages on your website that talk about a specific service or product. These pages act as an extension to the information already provided by you. When designing a landing page, keep your goal in mind. You want to build your customer’s interest. So build landing pages that engage customers and make them interested in the information you have to provide. Just keep in mind, your landing page should be relevant to your ad copy.
2. Use CTAs
Image Source: pixabay.com
Once the customer knows about your business and has landed on your website, make the visit worthwhile. Take a look at your website and scrutinize each page. What is the purpose of each page? And what should the visitors do once they are on that page? The purpose of each page can be different, but each page should direct a customer to perform a specific action. For example, your service pages can end with a CTA buttons like ‘try for free’ or your whitepaper page could end with a CTA button like ‘Download Paper’.
3. Incorporate Forms
How often have you opened a website and been asked to fill a quick form in a pop-up? Quite often? Well, these forms play an essential role in your customer interest building stage. When these pop-ups are placed to pop in at the right time, it encourages the visitor to share details such as email address to show their further interest in your business. This way you can then retarget the visitor with an informational email to make them consider your service or buy your product.
Mastering the Consideration Stage
The consideration stage is where the customer is now contemplating between choosing your product or service over your competitor’s. In this stage, the customer is looking at the specifications of your product or service before buying it. Now the customer will have questions to ask that need to be addressed to make the customer feel assured about choosing your product or service. To do that you need to:
Image Source: pixabay.com
Email marketing is one of the oldest yet effective form of online marketing. With the customer now interested and subscribed to your email list, it’s time you use email marketing to push the customer into considering your product or service. Use email marketing to reinforce your product or service details and make them realize why it is better than others.
2. Get a CRM System
Image Source: pixabay.com
Your potential target customer has now become a lead. This lead needs to be nurtured and transformed into a conversion. The right way to nurture such leads is to opt for a lead management system. Get your hands on a CRM software such as Salesforce or Hubspot and maintain a record of such leads. These CRMs help you in tracking the process of approaching the lead and closing the sale. These software also works well if you want to retarget cold leads.
Mastering the Conversion Stage
Going down the customer conversion funnel, it all comes down to the stage of conversion. This is where the customer finally decides to purchase your product or service. Now it is not that easy to close the sale. Even when a customer has finalized on your product or service, they will take time to rethink about it. To make this process of rethinking shorter, you need to:
1. Make the Purchase Worthy
Image Source: maxpixel.net
Even though the customer needs your product, they will still need that extra nudge to make the purchase. The customer will get that extra budge when they feels that the purchase is actually benefiting him. You can make the customer feel so by providing offers and discounts on their first purchase.
2. Don’t Keep Them Waiting
Once you have acquired your customer at the conversion stage, make sure that you do not keep them waiting for too long. Like it is rightly said, hit the iron when it is hot. Similarly you should convert a lead when it’s hot rather than delaying it anymore.
The customer conversion funnel is indeed a model that every marketer should follow. It not only helps you to know where your brand stands but also how you can make your brand better for a customer to choose you. So use the above-mentioned tips to enhance your business awareness all the way till conversions.Original Source