Previously on Blue Strawberry…
We have established that a marketing funnel could be defined as a journey that a potential customer goes through from learning about the existence of a brand to taking action, i.e., making a purchase. However, marketing changes and the modern conversion funnel differs from the model of the classic purchase funnel. We will show you how to create a conversion funnel in 2021.
The conversion funnel is a model which describes the path a consumer takes from encountering an advertisement on the Internet, through the website and online store to finally converting that action into making a purchase. As we can encounter hiccups on each step it is important to optimise our funnel.
Top of the funnel
The top of the funnel is where the traditional Awareness and Interest stages would be. Therefore, creating brand awareness and interest is the first part of our conversion funnel. In this stage it is important to know what your customers want and how can you act on their needs. Then you can start creating content. We could also call this stage – exposure.
This can be done through various social media content, SEO (Search Engine Optimisation) blog posts, newsletters, PPC (pay-per-click), CTAs (Call-to-Action), landing pages, direct outreach etc. And last but not least is figuring out who your audience is. You have the right content, now you just have to deliver it to the right people. A/B testing is a good tool in this phase. See what works best. Even a slight change such as the colour of the “Subscribe” button can make a big difference.
Middle of the funnel
The middle of the funnel is the phase that coincides with the Desire stage in our AIDA model or the Consideration stage. You have created a community that might have some interest in your product but you’re not quite there yet. You want to set your customers up for success, get them to the bottom of the funnel. In this stage, you need to get more personal. Try identifying cohorts that will help you at the bottom stage. You never put all your eggs in one basket.
Now is the time to convince them that you have what they need as they have already spent some time considering your brand. You can give them more quality content (show that you are the best and unique) or offer them discounts (free shipping, promo codes, coupons etc.) as only those that are really interested have made it to the middle of the funnel. If you are doing email outreach, try offering something useful with each email instead of sounding like you are trying to push your product.
Users that drop out at this stage are probably gone for good, so convince them that you are the one.
Bottom of the funnel
The bottom of the funnel is where you seal the deal. You have great leads and you want them to become your customers. They are ready to take action and they want you to solve their exact specific problem. This may sound hard but your audience has gotten much smaller since the beginning of the funnel which isn’t that bad at all. Only those who mean business are left.
You have gained their trust and now you can offer them your specific product for their specific problem. Customer relationship is a matter of the utmost importance now and every customer has to be taken care of personally. You can also send quality case studies to the cohorts you have established earlier. Studies have shown that if a person doesn’t complete a purchase 24 hours after putting a product in their shopping cart, they probably won’t do it at all. Offer them a discount to finish the purchase.
You have to convince them that your solution is the best. If you do that, they will take action.
Re-engagement
Your customers have made a purchase and they have received their product. Everything seems to be in order and your relation with the customer stops here. Or does it? Why would you so easily get rid of a satisfied customer? You want to create a long-lasting relationship with them, not just a short fling. Get back to your customer with a 10% discount on their second purchase. If they are satisfied, they might want to purchase for a friend, or even purchase again for themselves. You already had a transaction so you know each other. Make it genuine and personal. Imagine reaching out to an old friend you haven’t talked to in a while. If you are in the SaaS business, you can offer new features and updates. No one will say no to that.
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