Building Sales Funnels

As a marketer or someone interested in marketing you have most likely heard of the words “Sales Funnel” but do you know what it truly means? What a funnel consists of? And what makes a sales funnel good? Let’s get into it.

What is a Sales Funnel?

A sales funnel is a basically a visual representation of a customer’s journey. It shows the various stages a potential customer would go through when purchasing a product/service. It is typically divided into four or five stages: awareness, interest, consideration, intent, and decision. At different stages in the funnel the customer will require different information to get them to the final step, the decision. Ultimately the goal of the sales funnel is to get to convert a lead into a paying customer.

By gaining a full understanding and analyzing each step of a sales funnel, a business can identify bottlenecks and opportunities for improvement. If used correctly, a sales funnel can help businesses gain a better understanding of the customer journey and optimize it to increases revenue and promote growth.

So How Does One Build A Sales Funnel?

In order to build a good sales funnel here are some steps you need to take:

1. Identify your target audience: Consider factors such as demographics, interests, pain points, and goals, and use this information to create buyer personas that represent your ideal customers
   
2. Define the stages of your sales funnel: This typically includes awareness, interest, consideration, intent, and decision. Each stage represents a different point in the buying process, and it is important to understand what types of information and support your customers will need at each stage to make that decision to buy
3. Create a marketing plan: Based on the stages of your sales funnel, create a marketing plan that outlines the tactics you will use to reach and engage your target audience. This may include tactics such as content marketing, social media advertising, email marketing, and paid search.
4. Build landing pages and forms: To move potential customers through your funnel, you will need to create landing pages and forms that capture their information and guide them to the next stage of the funnel. Make sure to optimize these pages and forms for conversions, and test different versions to see which ones perform the best.
5. Set up tracking and analysis: To understand how well your sales funnel is performing, you will need to set up tracking and analysis tools such as Google Analytics. These tools will allow you to track the performance of your marketing tactics and identify areas for improvement. This step is very important so make sure you can track each step of your funnel. This will help you identify what part are working and what parts are not. It will also show you where you can improve to get more conversion.
6. Test and optimize: Finally, it is important to test and optimize your sales funnel on an ongoing basis. This may involve testing different versions of your landing pages and forms or trying out new marketing tactics to see what works best. By continuously testing and optimizing, you can improve the performance of your sales funnel and drive more conversions.

If you follow all these steps, you should be able to create a good sales funnel that converts your leads into paying customers. Although these steps will be very helpful, the art of building a sales funnel is even more complex, you will have to practice and test to get the best results. There are also many courses online that can speed up the learning curve so you can spend more time making money and less time testing. Check out our sales funnel course that takes you through the process step by step and makes it simple for you.

Testing Your Funnel

Now that you have created your funnel you have to measure its success. There are several ways to do this:

1. A/B testing: One of the most effective ways to test a sales funnel is through A/B testing, also known as split testing. This involves creating two versions of a page or element and showing them to a randomly selected group of visitors. You can then compare the performance of the two versions and determine which one is more effective.
2. Multivariate testing: Another way to test a sales funnel is through multivariate testing, which involves testing multiple versions of a page or element at the same time. This allows you to test multiple variables, such as the headline, call-to-action, and layout, and see how they impact conversions.
3. User testing: Another way to test a sales funnel is through user testing, which involves getting feedback from real users on how they interact with your funnel. This can be done through usability tests, focus groups, or interviews.
4. Analytics and data analysis: Finally, you can test your sales funnel by analyzing data from your website analytics and tracking tools, such as Google Analytics. This will allow you to see how well your funnel is performing and identify areas for improvement.

To learn even more about sales funnels and how they can explode your business book a call with me and I'll explain it to you