Posted By: Kyle Fagala
When it comes to creating a profitable digital marketing sales funnel for your brand, there are several moving parts that require monitoring and optimization. We’ve talked quite a bit about using this method over the last couple of months, and this will be the final part in the series. To help you take advantage of this technique, let’s take a look at the last three stages of a digital marketing sales funnel. We’ll also discuss a few marketing funnels you can implement almost immediately!
Stage 4: Conversion
Whatever service or product you’re selling, a high conversion rate is what you should be aiming for. When you aren’t converting well, your ROI suffers, so it’s important to capture anyone who has already passed through the consideration stage and into the “ready-to-take-action” mindset.
As you design your digital marketing funnel, keep in mind that it will be an ongoing process! You’ll need to be aware of any “cracks” in the funnel, which prospective clients can slip through if you’re not paying attention. Leaks like this can cost you, so it’s important to identify any points where your conversion process can be disturbed. You don’t want to give a prospective client any reason to exit out of your site or social media after coming so close to committing!
Stage 5: Customer Relationship
Every successful business relationship boils down to value, and if your current or prospective clients can’t get it from you, they’ll seek it from another provider. To take your customer service to the next level, build nurturing relationships with your clients by providing exceptional care, keeping them informed of their options, and solving any problems that arise as quickly as possible. Simple thoughtfulness such as this will go a long way towards differentiating you from your competitors!
Stage 6: Retention
This is where all your hard work pays off. Creating strong customer relationships can be time-consuming and may require an ongoing investment. However, the cost of retention is far less than the cost of acquisition, in terms of both time and finance! At the end of the day, it all comes down to what you’re offering your clients. To put it simply, the value you deliver to a client directly affects your retention rate. And the more clients you retain, the more repeat business you acquire!
Because each stage of a digital marketing funnel is interdependent on the others, strengthening one area will often have a far-reaching positive effect. Improving each stage strengthens the overall process, which then leads to complete business growth for your brand. There are three common types of funnels to help you accomplish this.
Like many things in life, a conversion funnel can become complicated for no real reason! In reality, it’s a simple campaign that involves multiple steps, with each step leading prospective clients towards the action you want them to complete. In order to get the most out of your own conversion funnel, you’ll need to first understand how it works.
There are three types of conversion funnels: acquisition, activation, and monetization. Each of these can lead to higher conversion rates, but you won’t use them all at the same time. Instead, you’ll use each depending on what stage your business is at, since each one will help you reach a different goal or objective. Understanding where your business stands today will allow you to use the most applicable conversion funnel.
For example, the acquisition funnel will allow you to tap into your target audience and find new leads for your business. Once you’ve acquired the right kind of leads, you’ll use the activation funnel to “activate” them into taking the next step in the process. Last but certainly not least, the monetization funnel will help you convert leads into clients! Be sure to set your conversion funnels up in Google Analytics to monitor your progress.
When done correctly, the sales funnel can guide potential clients through a “purchase path,” eventually leading to monetary transactions. Each approach to the sales funnel may look a little different, depending on your particular brand and your target audience, but the basic steps are the same.
The first step includes offering visitors to your website or social media a valuable front-end “freebie” in exchange for their email address. This could be a complimentary consultation, a certain percentage off your services, a discount on a product, etc.
Once the visitor has signed up, direct them to a page that includes a time-sensitive deal, like a monthly special. If they decide to take advantage of the offer, provide them with the information to do so. If they’re ready to take that step, great! If not, you can still count this as a win, because you got their contact information in the initial stage of the funnel, and can contact them at a later date. The idea is to move prospective clients through the funnel, one step at a time. You can then upsell or downsell your services and products based on their response at each stage.
Brands both large and small know that social media platforms are key to engaging their target audience. One way you can do this is by creating a sales funnel using Facebook ads. If you want more people to engage with your content by clicking on and sharing it, then you have to make that content worthy of clicks and shares! Conduct a little customer research and talk to people in your target market to find out what they’re looking for in compelling social media content. Base your ads on their responses, and track your progress to get a feel for how it’s working. The more you learn, improve, and customize your content, the more results you’ll see!
Even though we’ve explained the steps involved in creating a digital marketing sales funnel, you may not feel fully confident in your ability to do so just yet. Fortunately, Neon Canvas has an expert team here to assist you and support you in your marketing efforts! With our guidance, you’ll be able to build a personalized funnel that will help your brand develop more leads and generate more profit.
We want to see you succeed! Thanks for giving us the opportunity to help you do just that.
Kyle Fagala, DDS, MDS
Co-Founder, Neon Canvas