The business landscape has evolved countless times since the opening of the world’s first business in the year 705. From that first business venture ever to the birth of neighborhood mom and pop stores and large shopping centers; entrepreneurs have applied all marketing strategies imaginable. Everyone has the same goal in mind, to capture the most customers and beat their competitors for market share.
With the advent of ecommerce, many businesses have grown exponentially. It has changed the way consumers search for and purchase products. The focus has shifted to Ecommerce marketing and sales funnel.
A sales funnel is a type of Ecommerce marketing that aims to convert a site visitor into a paying customer. There are many ways to market an Ecommerce business, but a sales funnel is presently the most effective way to go.
Clients and customers are now more discerning than ever. The traditional marketing strategy of pouncing on leads at the first moment of contact will not work anymore. Hard selling is a thing of the past.
Business owners and marketers must bear in mind that customers nowadays have instant access to online research and DIY tools that they can use to learn about a product. They will not merely take your word at face value. Instead, customers will go the extra mile to ensure that they get the best bang for their buck.
Marketers can take advantage of the time that a customer allows himself to research, ask around for information, and watch videos before deciding on a purchase. A marketer can incorporate these activities and organize them into efficient steps that will bridge the gap between the first contact and the actual sale. This is the essence of a sales funnel.
A sales funnel gives the customers the freedom to make their own decisions. The “buy me now” strategy will not cut it anymore. Pressuring the customers to buy immediately after making contact will have them clicking the exit button within seconds.
If your customer has a great buying experience from your online business, it will translate into revenue for you. A sales funnel can help you achieve business success because of the following reasons:
It Provides Consistency in Sales
Business is a cycle of ups and downs, especially when it comes to revenue. But you can reduce the instances where you only grow revenue by spending on a splashy marketing campaign by putting a sales funnel in place.
A sales funnel will put your marketing activities on autopilot. It will bring new clients and customers in without much ongoing intervention from you. There will be less effort but more sales.
In the first stage of the sales funnel, there is not much revenue increase. But as the weeks go by, you will notice a significant increase in revenue as leads move down the funnel.
It Increases Conversion Rates
Your product or service is not for everyone. And that is okay. What you need to focus on are the customers that are willing to shell out money for your offerings. As people move down your business’s sales funnel, non-targeted individuals will be filtered. The ones that remain are going to buy, thus increasing the conversion rate.
It Identifies Problem Areas
A business owner can effectively solve a problem if they can pinpoint the exact areas where the problem took place. A sales funnel can help identify these specific areas. You can trace the stage where a customer left during the sales funnel process and determine the cause for the exit. This data is beneficial in creating the perfect marketing strategy for your business.
There are a wide array of marketing tools and platforms that are accessible to business owners and marketers. A sales funnel is the simplest yet most powerful one. In a world where everything is vying for attention, the best one will always survive.