Majority of people’s effort to increase conversion rate always goes in vain. You may be well-versed with the conversion funnel procedures but may terribly fail to convert visitors that arrive to your website.
In this article, you will get to know about the following things;
- Conversion Funnel Meaning and its Types
- Importance of Optimized Conversion Funnel
- Six tips to Optimize your Conversion Funnel
Conversion Funnel Meaning
Conversion funnel also known as a sale funnel, it is a conversion process of an online visitor to a customer that starts from a mere click in a search result or advertisement, and from there how an online marketer guides a visitor to purchase their products on their websites.
In general, we know that funnel means a tube through which liquid is poured out from one end to another. Here the word ‘funnel’ means a process that a potential customer goes through to reach the end i.e the conversion point.
Quantity of liquid poured in a real funnel remains the same after coming out of the other end. In case of a conversion funnel, the number of potential customers starts decreasing in each stage of the funnel.
The Four Crucial Stages of a Conversion Funnel
It is the initial step that a business owner should take to drive traffic to his website. Remember people don’t know your brand or your offerings in the beginning. You need to make them visit your website by doing promotional activities.
Some marketing tactics that can drive fresh traffic to a website:
- Display or paid advertising
- Online ad campaign
- Pay Per Click (PPC)
- Search Engine Optimization of your website content
- Social media Posts
- Affiliated Marketing
- Video ads
- Email Marketing
In this stage, a digital marketer has to build visitor’s interest. Otherwise, he would depart in a few seconds after coming to the site.
- Keep content easy and attractive
- Use alluring graphics
- Reduce loading time of visiting page
- Show positive reviews from the customers in the landing page
- Live chat with customers
The next goal is to create desire among potential buyers. For that, you must focus on addressing their needs to make them purchase your product.
You have to tell them why your product is the best among all its competitors and also assure them about secure transactions from your website.
A marketing strategy that Apple uses to build desire among the targeted audience is – to display benefits of their products rather than describing its features. Many companies did the same which helped them to gain a large number of customers.
The most anticipated stage in a conversion funnel. After nurturing your prospect throughout the conversion funnel, the time has come to seal the deal. The prospect purchases the product from your site and ultimately becomes a customer.
Types of Conversion Funnel
- Lead Generation Funnel: The name itself suggests the meaning of this funnel i.e. lead generation. This funnel is mainly used in creating email lists, reaching large audiences and generating leads before launch.
- Self-liquidating offer Funnel: To reimburse your ad costs immediately, self- liquidating offer funnel is the best option. Anyone can use this funnel to generate leads again and again.Only thing one has to do is to sell a product at a low cost to the advertisement respondent.
- Natural Marketing Funnel: It’s fine if you don’t have enough money for paid advertisement as natural marketing funnel generates leads without making you spend a penny.
- Free Consultation Funnel: This type of funnel starts from a free consultation with a coach. From this free consultation, information is acquired from the prospects specially to send emails about the valued materials related to the consultation. The best thing about this funnel is that you can get qualified leads to convert.
- Automated Webinar Funnel: This type of webinar can convert leads to sales in the most quickest and easiest way. Because webinars are pre-recorded and not date specified. It can be used many times to generate leads and conversions with almost zero cost.
There are many marketing tools out there which help with landing pages and funnels building easier & faster, and you need either your tech team to do it from scratch or you can use any of these popular tools to make your process faster yet better. ClickFunnels & Kartra are two very popular funnels building tools in the market you can check & get benefits.
Why is Funnel Conversion Optimization Important?
You would be astonished to know how effective could be an optimized conversion funnel. If you are an amateur digital marketer, you may not have the idea how an optimized conversion funnel can scale-up your business. Here are some importance of this process.
- Helps to pick a marketing strategy that suits your business
- Understanding the requirements of a customer
- Generating leads and sales
- Sales funnel provide a variety of pathways to grow your online business
Six Most Constructive Tips to Create a Highly Optimized Conversion funnel
- Pre-action plan: If you don’t know the route from upper level to lower level of the funnel, how could you expect conversion. A proper plan is needed beforehand to guide your potential customers down the conversion funnel. It should be customized to suit your business goals. Each level should be well framed and ready to be executed at any moment.
- Great content: The content is the king undoubtedly. No matter what you do, without interesting content you can’t achieve anything. Effective content is an important element to optimize the conversion funnel. Content should be formed in a way that it attracts the targeted audience. Adding graphics and videos to the landing page helps to gain attention and also it increases the visiting time.
- Testing the rate of conversion: Testing conversion funnel allows to measure the number of visitors at different stages of a conversion funnel. The best way to test the performance of your site is by using google analytics. It has so many features that allows you to track and set goals on each level of the funnel.
Now-a-days, A/B testing is used to compare conversion rate between two marketing assets.
- Fixing issues: After testing, have you ever realised where your customers go? They enter the funnel but don’t intend to continue.
This is because there may be loopholes in each stage of the funnel. That’s why, the visitors don’t stay for long to be guided down the funnel. This happens due to four main reasons;
- Bringing poor traffic to the website.
- Unappealing content.
- Ineffective call to action.
- Not analysing or testing performance in each step.
- Call to action: Visitors may come and leave the webpage in a few seconds if they don’t get what they are looking for or else don’t know what action to take next. And for that reason CTAs are used to instruct the visitors to take quick actions.For example, an exit-intent pop-up which is a type of call to action, these pop-ups appear with a discount code of 10% on first purchase. People would be much interested to buy if they get a good discount.
- Identifying potential customers: True fact is that large influx of uninterested traffic can’t increase your sales. Check the channels in google analytics through which conversion rate is the highest and give more importance to that channel.
In most of the cases, ad campaigns and organic search drive qualified traffic to your websites than other channels.
- Re-engagement customers: Convincing an old customer is very easy as compared to a new one. They can be termed as ‘loyal customers’ as you have already built a trusting relationship with them. But time and again you have to keep them updated about new products and discounts of your company .
Email Newsletter is the commonly used method to re-engage old customers. To make the work less tedious, one can also send automated emails.
Make the best and the most optimized Conversion funnel
A Conversion funnel needs ongoing improvements, if something works now may not work tomorrow and one test work for particular traffics may not work for other traffic sources. So this needs extensive testing for different angles, elements, text, color, etc. to find the best optimized conversion funnel to grow faster at a lesser cost.