Have you ever considered the benefits of using a marketing funnel? Nowadays, businesses selling products are required to build funnels, as these are the backbone of every successful seller.
Sellers should develop an approach where customers take the central place and have their requirements met. Marketing funnels analyze the requirements of consumers and address their main pain points, which leads to more purchases.
The benefits of using these models are numerous, including the attraction of new leads, placing the focus on the right prospects, improving your conversion rates, making better sales volume forecasts, building trust with the audience, etc.
Learn more about each of these essential benefits in detail.
Attracting new leads
An important benefit of using sales funnels as part of your digital marketing strategy is the possibility of attracting more leads. Funnels with the right content are bound to attract new leads for businesses. The right type of content depends on your business, the industry, and the types of leads you are interested in attracting. Find out more about the types of digital marketing.
Moreover, the content should be addressing the problems of customers by providing them with solutions to their issues. Its format should be compact, such as an online quiz, downloadable guide, or eBook, etc. The key factor is to get the list of everyone’s emails while delivering the content. Consequently, the prospects enter the funnel, meaning you can start nurturing them and build a relationship with them.
Placing the focus on the right leads
Even though not all leads will transform into customers, your marketing funnel will help you identify the leads worth pursuing. It allows you to spend your time and resources wisely by working with the leads who have potential instead of focusing on prospects with no intention of converting. You can make a selection by using an email survey or a phone call to get in touch with the prospects and evaluate their seriousness about the buying process.
As already mentioned, not all leads have the potential to convert to consumers. For instance, if your email campaign involves marketing to 40,000 leads, it is highly likely for only 4000 leads to open the email, 800 of them to click on the link, and 300 of them to actually sign up for the webinar. Only a hundred leads are expected to attend the webinar, of which ten will request a demo. Eventually, only two leads will buy the product. Therefore, focusing on the right prospects is essential.
Improved conversion rates
Another benefit of using a marketing funnel is the improvement in conversion rates. Clear funnels result in an increase in targeted marketing, which eventually boosts the introduction of new prospects. The higher the prospect number, the more interest is developed for your business.
In addition, businesses get their conversion rates improved because of having a detailed insight into the path of every lead through the marketing funnel. Hence, they learn about the period it takes for prospects to become consumers. This information helps personalize their sales pitch, which improves the rates of conversion.
The average funnel conversion rate is approximately three percent (3%). While it does not sound a lot, it is still higher than the conversion rate without a funnel. A conversion rate of three percent is a good starting point, as your business can increase it over time. Follow this link, https://www.searchenginejournal.com/conversion-rate-optimization-guide/403219/#close, to learn essential information about conversion rate optimization.
Better sales volume forecast
Another reason why businesses use marketing funnels is the ability to perform better forecasting of their sales volumes. By measuring how many leads enter the marketing funnel and how many of those converts, you will forecast your sales volume more accurately. Knowing your conversion rate is vital for forecasting the sales volume.
Marketing funnels help businesses make accurate predictions related to their future sales. Such predictions are helpful in view of making sales plans for the upcoming quarter. Having a plan means putting in more effort to meet the set target.
Another benefit of using marketing funnels is the possibility to build trust and establish a better relationship with your leads. Prospects are not likely to make an immediate decision to purchase items, as they need time to build trust and establish a relationship with the sellers. Fortunately, marketing funnels enable sellers to build relationships with prospective consumers.
Moreover, these marketing pipelines feature numerous points of contact over a particular period, which is crucial for conversions. By sharing educative content regularly, businesses can gradually build relationships with their prospects and wait for them to become ready to purchase. Trust plays a vital role in encouraging individuals to purchase goods from a particular brand.
In addition, these models provide enough room for building trust with your audience. Building trust is an important goal of funnel creation, allowing businesses to introduce themselves to prospective customers. Most marketing pipelines use an email autoresponder as one of the main features, referring to a series of automated emails, which go out to new subscribers. By introducing yourself to prospects on your own terms, you increase the chances of a successful interaction.
Conversion of email subscribers
Email is considered the core of marketing funnels for a good reason. It has a higher return on investment than the rest of the marketing channels. It is thought to be more effective in acquiring new consumers in comparison with social media channels like Twitter and Facebook.
Furthermore, email subscribers convert at a surprisingly high rate of approximately twenty percent (20%). Such a high conversion rate is not typical for other channels. Hence, companies are recommended to build such pipelines with email marketing as the core. They stand to gain from the effectiveness of emails in driving more sales. It does not matter what type of business you run, as it will do wonders for your sales anyway.
Marketing funnels make selling uncomplicated and predictable.
Shortly after building one, you will enjoy the benefits of taking such action.
It is definitely worth it!