We know that you put your heart into starting your business and that you put just as much effort into promoting your products and services, but if the results are not up to your expectations, it's maybe you don't know your customers well.
Indeed, it is important to know the customer journey that your buyers take and to identify all the moments that pose problems. This will allow you to determine where people are losing interest in your offering. The sales funnel will give you all the tools and data you need to do this research.
What is the sales funnel?
The sales funnel, also known as the marketing funnel, is a visual representation of all the steps a visitor must go through before buying a product or service. This process involves them discovering your brand, learning more about your product or service, deciding to buy, and then actually buying it. Each of your customers will go through this process.
The origins of this funnel date back to 1910, when the American philosopher John Dewey presented the five stages that consumers go through before, during and after purchasing a good or service. This buyer decision process included the following steps: problem/need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Over time, this idea evolved into the contemporary marketing funnel, which focuses on the various stages from when people first hear about a business to when they complete a transaction.
Marketing efforts aren't about getting people to buy right away. Instead, they start by capturing leads — potential customers who are interested in the brand. When businesses turn anonymous strangers into leads, they lure them into the mouth of the funnel. Then, they continue to market to these prospects in an effort to get some of them to buy.
The key is to create an effective sales funnel to guide potential customers through the various stages of the funnel to the point where they are ready to buy your product or service.
Why do you need a sales funnel?
As a business, your success depends not only on the quality of your offering, but also on how it is presented and marketed to consumers. Everything from the layout of your website to the packaging of your products plays a huge role in your customer's journey.
Having a clear view of a customer's journey will allow you to identify obstacles that are hindering their progress through the funnel. Based on this data, you can make changes to remove these obstacles and improve your conversion rate, whether by making your website more user-friendly, creating a social media campaign or promoting on different channels. . This is why the sales funnel is so effective.
What are the stages of a sales funnel?
A basic sales funnel has six stages:
1. Awareness
This is when customers first discover your brand, and this is where lead generation happens.
2. Interest
Prospects demonstrate interest in your products or services. Your brand then begins to establish a connection with these prospects.
3. Consideration
In the consideration phase of the marketing funnel, the prospect evaluates the options available to him to meet his needs. At this point, they already know your offering and your brand.
4. Intent
Prospects move to the intent stage once they demonstrate a clear intent to purchase a product or service. This doesn't mean they'll buy right away, but it does indicate they're ready to purchase.
5. Evaluation
Here the potential customer makes the final decision whether or not to purchase your product.
6. Purchase
This is where prospects ultimately decide to purchase your product or service.
Another representation of the sales funnel that we use at Bofu is the TOFU-MOFU-BOFU .
· TOFU (top of the funnel) is the top of the funnel, where leads are generated.
· MOFU (middle of the funnel) is the middle of the funnel, where we generate customers.
· BOFU (bottom of the funnel) is the bottom of the funnel, where sales are generated.
Do you want to master marketing strategy and its components? Our detailed article guides you step by step. Discover our article entitled accelerate and structure your customer acquisition and activation ecosystem.
No matter which marketing funnel model you use, the most important factor is that your marketing plan is aligned with each stage of the buyer's journey.
Let our experts support you in creating and understanding your sales funnel, helping you to better understand your customers and increase your sales. Book your exploratory call now.
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