It’s challenging to turn someone into a customer, especially if they have no interest in your product/service or don’t have the cash to make the purchase. But with an efficient marketing funnel, you can create a loyal following out of those who never even knew you existed or at least didn’t realize how important it is for them to get their hands on what you’re selling.
Yup, a proper marketing funnel can convert an on-the-fence customer into a raving fan who would refer you to more people! As a business owner, creating a marketing funnel is one of the most important things to do, but is unfortunately one of the things a lot of entrepreneurs neglect.
But wait, what in the world is a marketing funnel, anyway? And why does it matter to you?
Marketing Funnel Defined
Imagine the shape of a funnel. It’s wide on one end, but narrow on the other. The wide end catches the liquid, and then gravity pulls it through the narrow end, leaving behind unnecessary residue. It’s a rough comparison, but this is how a marketing funnel works.
A marketing funnel serves as the pathway that “captures” prospects, moving them from awareness of your product/service to interest, desire and finally the sale. Simply put, it leads people from the “I don’t know you” stage to the “let’s do business” stage. But this doesn’t just happen overnight! You need to figure out how to identify these prospects, qualify them, and then lead them to the sale.
This lesson will be your ultimate guide to why you need a proper marketing funnel, how to create one, and how to constantly improve it so you can generate more income, no matter what your niche.
How It Works
Let’s get started with this flowchart:
It might seem complicated at first, but I will explain each step as we go over the lesson. Please watch the video for more details!
As you can see in the flowchart, your marketing funnel should consist of the means that you use to drive prospects to your business and close the sale. For example, you might have a new blog post every day and you promote it on social media to draw attention to your business. After getting prospects to your website/blog, you give them value (i.e. with an offer or freebie) in return for their email addresses. You then send out periodic emails to get them interested in the product/service you want them to purchase.
Marketing Funnel Goals
When working on your marketing funnel, you need to keep in mind these two important goals:
- Get more people to move from one stage to the next
- Find more good leads to funnel a larger number of people into the pipeline
These are very important if your ultimate goal is to generate more income. Who wouldn’t love that, right? Also, remember that the process of creating a marketing funnel is not set in stone. The entire process takes a lot of effort and testing on your part, and you don’t want to create a reasonably consistent backend.
Considering what products/services to offer, producing them, providing offers to your prospects, and testing all the metrics are all part of the system. This takes a lot of time and effort that you can’t do overnight, so you need to prepare for that, as well.
Once you have planned your marketing funnel, it’s time to implement it. Next, we are going to discuss how to set up your lead generator. See you on the next lesson!
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