Hbr Sales Funnel Flywheel
How to build an online Selling and Marketing Funnel
Making an online marketing and sales funnel is vital for any business hoping to succeed within the digital age. By creating a funnel, you can ensure your site is optimized for conversions along with ensuring your advertising campaigns are targeted towards the right group of customers.
Sales funnels are a process that guides potential customers from their initial awareness of your service or product until they make a buying. Its called a funnel because at each step of the procedure, you'll lose some people who dont go on to the next stage.
There are four essential stages to an online sales funnel:
In the case of awareness, this is when potential customers are made aware of your service or product. They might see an ad or read a blog article, or receive an email from a marketing campaign. Hbr sales funnel flywheel.
Inquiry: Now that they are aware of your product, they need to be attracted to it. This is why you need to provide more information about what youre offering and the benefits it can bring to them.
Decision: At this stage, potential customers are ready to decide whether or how they will purchase your product. They could compare your service to other providers, read reviews or review pricing alternatives.
Action Then, they take the necessary action and purchase your item.
What is a Marketing and Sales Funnel?
Sales funnels are a procedure that helps a person go from initial exposure to an item or service to the purchase decision. It is comprised up of a set of steps that are created to guide potential customers through the process of making a purchase, from the initial interaction to the follow-up after purchase.
The aim of any sales funnel should be to turn as many leads to paying customers as much as they can. In guiding potential buyers through a series of steps and ensuring that each step is optimized to conversion, businesses can boost their conversion rate in general and get more sales from your online advertising efforts.
The basic steps in a sales funnel include:
1. Awareness: The client becomes aware of the product or service through word-of-mouth advertising or other marketing strategies.
2. Inquiry: The consumer begins to think about whether the product or service they are considering is appropriate for them and begins researching their options.
3. Choice: The consumer decides whether or not to purchase the item or service, and then takes the final decision.
4. Follow-up: Customers receive their purchase and may be followed-up with post-purchase (such as surveys on customer satisfaction or upsell/cross-sell promotions).
The Benefits of Having a Sales and Marketing Funnel
The advantages of having a sales and marketing funnel are numerous and the most significant one is the fact that it allows you to create a system to convert prospects into customers. It also allows you to track your results so that you can tweak your marketing and sales strategies for maximum impact.
A different key advantage is the fact that a sales and marketing funnel gives you a way to identify your potential customers in order that you can send them targeted messages.For example, if you know that a certain group of potential customers is interested in a specific product it is possible to target your marketing efforts toward the group to increase the chances of selling.
Additionally, a sales or marketing funnel may also help you save time and money by automating certain aspects of the sales process. For example, if you've got an email list of customers who are likely to purchase from you and you want to use autoresponders to automatically send messages with discounts or special deals for your services or products. This will increase conversions without putting into extra hours of labor. Hbr sales funnel flywheel.
How to Build an Online marketing and sales funnel
To develop an online sales and marketing funnel, you need to understand what a funnel is and how it functions. A funnel is the process that allows a customer to go from having awareness of your product or service to becoming a paying customer. The idea is that , at each step of the funnel, you are providing more information and worth to the client, which eventually leads to a purchase.
Step 1: Design a Lead Magnet
The term "lead magnet" refers to an opt-in offer which you can use to generate leads for your company. The purpose of lead magnets is to entice your website visitors to exchange their contact information with you in order you can follow-up with them, and then sell them your services or products.
There are numerous types of lead magnets that you can create, but what's most crucial is to ensure that your lead magnet is something your target customers actually desires and is able to deliver on its promises.
One of the most straightforward ways to make a lead magnet is to simply provide discounts on your goods or services. If, for instance, you're a web designer, you can provide a discount on web design services to anyone who signs to your email list.
Another well-known lead magnet is one that is an eBook or PDF guides. It could be a manual on how to begin an organization and lose weight, tips for saving money, etc. The idea is that anything you write about will be beneficial to your target readers.
You can also design your own workbook, checklist, cheat sheet, or any other kind of downloadable resource that will be useful to your target audience.
And finally, another popular type of lead magnet would be an online course or video training series. This kind that you offer as a lead-generator is a great choice because it allows you to demonstrate your expertise and establish trust with your target audience while at the same time.
Step 2: Create A Landing Page
A landing page can be defined as any webpage that a person could get to. In the context of marketing, a landing page is an individual web page specially designed for the use of marketing or advertising. It is distinct from your homepage because it was developed to encourage a specific behavior from your visitors, known as a conversion.
Conversions can take many ways, like signing up to a newsletter, registering for a free trial or making a purchase or making contact via a form. The aim of your landing page is getting your users to take this step There are certain factors that can help in encouraging your visitors to do this.
Your landing page must have:
- A compelling and original headline
- A form for visitors to fill out
- A clear call-to-action (CTA) that encourages conversions
- Videos or images that help reinforce your message Benefits or characteristics of your product or service
- A simple design that is easy to navigate .
- The ability to track conversions
Step 3. Create an Email Autoresponder Series
Once you've constructed your landing page and gathered leads, its time to design an autoresponder email sequence that will convert those leads into clients.
Your autoresponder email series must consist of 3-5 emails that begins with a welcome message and continues through each step of your sales and marketing funnel.
At each stage of your funnel, you should provide your prospects with valuable content that will help them move closer to becoming an actual customer. When they reach the final stage of your autoresponder series, they will be convinced that your product or service is exactly what they require and willing to purchase.
Heres an overview of what each email in your autoresponder series should achieve:
Email 1 The Welcome Email first email you send out in your autoresponder sequence should include a welcome message from you to your subscriber. It is also an excellent opportunity to begin building trust by introducing yourself and providing them a brief overview of what they are likely to get from your emails.
Mail 2: The Problem Email In the 2nd email in your autoresponder sequence, it's time to be more specific with regards to the problem that your product or service can solve. This is where you begin to engage your reader by detailing the pain points that they're experiencing right now.
Email 3: The Solution Email In the third email, you're now ready to explain your solution. This is where you talk about your product or service in more in depth. This is also where you begin to go into the more in-depth details of the way your product or service operates and what makes it the most appropriate solution to their problem.
Email 4: The social proof email In this 4th email, it is important to give proof of social connections that proves the reason why your product or service is the most effective solution to your client's needs. This could be in the form of testimonials, case studies or even feedback by other clients who have tried the product.
Email 5: The Call to Action Email The last email in your autoresponder series should be strong and compelling call-to-action (CTA) that encourages your readers to act and purchase the product. This could take the shape of a discount code an offer with a limited time period, or free trial period.
Step 4 4. Promote Your Lead Magnet
Once you've developed your lead magnet, and you've designed the landing pages, you're ready to market your product.
The best way to advertise the lead-generating offer is through an approach that is two-pronged First, you should drive people to a page on which they can sign-up to your special offer. Second to follow up with a series of emails after they sign up.
To get people to your squeeze site, you can utilize a variety of strategies, including paid advertisements, social media, email marketing and even physical marketing materials like postcards, flyers or even business cards.
Once someone has signed up for your lead magnet it's crucial to follow up with them with a series of emails. Through these messages, you'll be able to provide additional information about your service or product and establish trust with your customers and, eventually, present your sales pitch.
With a little effort it is easy to create with a little effort, you can easily create an online marketing and sales funnel that will help you make more sales and increase the size of your business. Hbr sales funnel flywheel.
Conclusion
If you've learned the best way to create an online sales and marketing funnel, it's time to put that knowledge into practice. Rememberthat the purpose is to attract customers, convert them into leads, and then help them become customers. By following the steps outlined in this guide, youll be well on your way to becoming successful in online sale success.