Funnel: What is it?
The funnel has five phases: lead, prospect, potential customers, committed and transacted.
If you are thinking about the strategies on how to get leads on your website, you need the funnels as the set of steps you will be using on your platform. When you originally created your website, you surely want visitors to take specific actions that would bring benefits.
Whether you want them to sign up, subscribe, buy, or fill out a form, you need techniques to make these visitors do these.
The funnel is the steps your audiences or potential clients need to go through to create an action on your website.
So, let us take an online shopping site as an example. You go to the website, go to the products’ page, add items to the cart, and checkout. The ultimate goal is to make the visitors not only merely visit, but to convert them into clients. So, you need strategies to make it happen, and funnels can make it work.
What is the reason behind calling this process as funnels? Because many people do the first part, but in the last section, only a few finally do an action. Well, that is the reality online. More people will visit your site, but only a little number actually stays at the end. Nevertheless, you can still make people stay despite this reality.
The funnel has different types. You’ll see one from the B2B sales funnel for software company last for a longer time, specifically for several months. On the other hand, B2C ecommerce website funnel only lasts for a few minutes.
Another one is the phases of each funnel. Some only have two, while others work on various stages. It takes different lengths depending on the action of the visitors and prospective customers on your end.
The Funnel Parts
In the first section of the funnel, that’s where marketing campaigns take place. Second is the awareness of people about site. At the campaign, you need to do content marketing, SEO, inbound marketing, referrals, trade shows, SEM, and other techniques to earn more potential visitors.
In the lower part, you need to hook the interest of your prospects. You can do this by creating valuable content, videos, white papers, social media, newsletters, and more. The last part is the commitment and sales. You only have to repeat the same steps for the next marketing strategy.
The most interesting ones will surely get to the last part. That is what you are aiming for to receive sales from your marketing strategies.
You can use funnels on your website to see how people will move towards your site, depending on the flow that you have executed. You can also do some tracking of the strategies you did for your visitors’ actions. For example, if you are looking for a subscriber, you might want to include newsletter on your page to let your audiences subscribe to your email.
Be clear to your goal. That’s where your funnels depend on to create an organized plan for your business.
The Reason Why You Need Funnel on Your Marketing Strategy
Consumers usually cross over funnels when they visit websites. Even in a physical store, the seller should know how to create funnels in real life. The step-by-step process should be visiting on your store, looking at the products, scrutinizing them, putting the items on the cart, going to cashier, and completing the checkout process.
Whether it is a physical or online store, you need funnel to work on to make your techniques organized. You can experiment on the strategies you are doing and change them to make other things work.
Let’s say you have 1000 people. You’ll probably get 100% of them to visit on your site, 70% on the shopping area, 35% of those who put items on their carts, and lastly, only 5% would get to the last part, which is purchasing the items.
Regardless of the small percentage of people who will finally take action, you can still see whether people are dropping off getting away to final part of the funnel.
In that way, you will see what went wrong and change your ideas on attracting your customers. A funnel is crucial for you to analyze your business. You can identify things for improvement.
You can also work on reducing the shopping cart abandonment once you study the right way of organizing your funnel.
How Google Analytics Funnels Work
Google Analytics Funnels are pretty simple than others. But they provide in-depth and organized way of strategies to get people on the last part of the funnel. You can choose Google Analytics as your best option if you want to dive deep into the data and optimize it. The only con of using this one is that you cannot retroactively view data. Once you finish creating your funnel, it is impossible to go back, but you can only move forward once the data comes in.
How to Optimize Your Funnel
You may use the A/B testing software programs, such as Optimizely, to assist you with phases you’ve been creating throughout your Funnel. By optimizing it, you can maximize yield in each part. As a result, you’ll get higher revenues – which is your utmost goal in your business.
So, we’ve learned different things connected to Funnel. Conversion means the action made by signing up, filling out a form, subscribing, and others. The funnel helps to organize the phases you need to go through to track the step that leads to conversion.