Sales funnel: How to identify, optimize, and improve your sales funnel

Lesson Details:
October 07, 2020


I: Introduction

A: Seo and social media marketing strategy

Social media marketing is a set of marketing techniques that use social media platforms to create buzz, receive customer feedback, and gain traffic to their site. Social media marketing strategies are used widely for building brand recognition or to boost the brand's awareness in the market. This has become very popular because of the low cost involved. It is very easy to launch a campaign on social media sites for free.

Social media marketing strategies are built around specific strategies to boost brand recognition among future customers. For example, the company could focus on increasing brand awareness by increasing its following on Facebook or Twitter. Social media marketing strategies also involve creating content that is interesting to users. This way they will share the material with their contacts thereby increasing the number of followers for the company. The company can also advertise using social media marketing strategies.

Social media marketing strategies are often implemented by the company directly or hiring an outside marketing agency. Both methods have their pros and cons. If the company handles its own social media campaign it will be able to monitor the progress better than if it hires an outside agency. On the other hand, if it handles its own campaign, there would be less focus than if it hired an outside agency. Another advantage of hiring an outside marketing agency is that the company gets access to more experienced manpower.

Social media marketing strategies are effective because they are low-cost and quick to implement. Unlike television advertising, social media marketing strategies can be implemented immediately after planning. They allow companies to reach many people without having to spend much money on airtime. The main disadvantage of social media marketing strategies is that they are not as targeted as television advertisements. If the company targets a particular group of people through social media, it cannot be sure that they will reach only this group rather than other groups as well. The results may not be as accurate as desired.

II: Body

A: Sales funnel: how to identify, optimize, and improve your sales funnel

For any business, regardless of size or product or service, there is one common denominator: there's always money at the end of the sales funnel (the process of bringing potential customers in). Whether you're selling toothpicks or jet airplanes, there is a sale involved and a sequence of steps between awareness and purchase of a product or service, or opting into a subscription or a membership or a program or a course of some sort. Most businesses don't think about this process of moving from awareness to purchase as a "sales funnel." But it absolutely is a sales funnel -- and I'd bet that almost all of your competitors think of it that way. How many people do you know that don't understand that they're participating in a sales process? Most people get that concept implicitly from the moment they get out of bed in the morning.

In my view, it's important to consider a sales funnel from two different perspectives: how do you get somebody to take action at the beginning of the sale cycle and how do you ensure a successful conversion once somebody has started down the path towards being ready to buy? This is where the word "optimization" comes in. The first part of the sales funnel -- getting someone on board at all -- requires vibrant, engaging content that prompts people to take action on some level. Filling up the top of the funnel is almost entirely dependent on producing winning content on some level, whether it's compelling storytelling, useful information, emotional connection, etc. The second part of the sales funnel -- converting prospects into paying customers -- is closely tied to delivering great customer service and providing meaningful incentives and inspiration for prospective customers (e.g., contests, discounts, bundles, targeted offers for prospects who may not yet be ready to buy but who appear to be headed in that direction). All these factors go into maximizing someone's chances of making it through the full sales funnel and converting into a customer (or even better: repeat customer).

The most important aspect of the sales funnel is related to how each stage is defined and what you're trying to accomplish at each stage. If your definition is incorrect or if you're trying to achieve goals in ways that aren't aligned with what customers need and want at each stage of the sales process, you will ultimately fail in your efforts and waste time and resources in your efforts. For example:

The goal at the top of the sales funnel should be awareness and engagement with your product or service so that you can eventually convert them into customers later on down in the sales funnel. Note that when we talk about "awareness," we're talking about awareness with an intent to purchase later on down in the sales funnel when prospects are ready to buy. And when we talk about "engagement," we're talking about engagement with your product or service that leads to that eventual purchase later down in the sales funnel. So really, "awareness" and "engagement" are two sides of the same coin -- you can't have one without having both! What this means is that you're not going to get any business unless you get prospects aware AND engaged at some point during your overall sales process! We've all seen products or services introduced to us by friends or family members or colleagues or people we meet at networking events... but for whatever reason, we never ended up buying anything from them despite our initial interest/enjoyment/connection with them at the top of the sales funnel. There are multiple reasons why this happens, including whether they did a good job educating us about what they have to offer, whether they offered something useful/beneficial at each stage along the way, whether it was too complicated/disruptive/expensive/risky for us to buy right away... there are many other reasons why people at the top of the sales funnel don't become customers later on down in the sales funnel, but regardless of WHY they don't buy, what matters most at this point is understanding why they didn't buy so you can adjust your approach accordingly next time around! The goal at the bottom part of your sales funnel should be maximizing conversions by providing incentives/offers/promotions/etc., which moves people towards wanting to buy later on down in your sales funnel (i.e., converting prospects into customers). Again, notice that we're talking about conversion (into customer) here instead of conversion (to make money) because once you've made money already (in stage 1), your goal is no longer "How do I make more money?" but rather "How do I make more profit?" Profit = revenue - cost; profit = profit + profit; profit = profit x (1 + profit); profit = profit - profit; profit = profit / profit; profit = profit * profit; profit = II * II; profit = QED*QED; profit = QED*QED! So at this point in your sales process, your goal isn't just about making more money -- it's about increasing profits by converting more prospects into paying customers! This means using tools like coupons, discounts, bundling products together so people can save money while buying more stuff... anything that encourages someone who wasn't quite ready yet when they were at stage 1 but seems ready now when they're at stage 2 -- so they can take action now instead of having to wait until later! This is where those little tricks come into play -- those little things that let people know you're thinking about them and what they want/need/desire and then how you can help them get those things sooner rather than later!

III: Conclusion

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