Perhaps the most common objective of all businesses whether small, medium or large, is to generate qualified leads in order to make sales. However, only about 24% of marketers are satisfied with the number of leads.
In nowadays digital competition, generating qualified leads and acquiring new customers is not the matter that you can do arbitrarily. I wish it was that easy!
In light of this, understanding the funnel of generating a lead and making a sale is a must to improve this process and boost your sales.
What Exactly is Sales Funnel?
It is the route that your prospect customers take on their way to making a successful purchase and becoming an actual customer. It is called funnel because the process is descending. While you are promoting your products or services to thousands of prospects, only a small portion of them will provide their personal contact information and become leads, then a smaller fragment will become customers.
Understanding the Sales Funnel Stages
This path may differ from one customer to another based on your target audience and your services or products you are selling.
Overall, there are 4 main stages the prospects usually go through on their way to becoming a customer.
At this stage, you bring awareness and attraction to your services and products to the prospects so that they can know more about your brand. The customers here learn about the solution you provide to meet their needs. The awareness stage may start when your ads pop up on search engines or on social media platforms.
When the customer is interested, that means he wants to know how your products can meet his needs. At the Interest stage, the customer starts looking for more information about the quality of the services you offer. It is the point when he starts to follow your social media accounts and pages, and it’s your turn to impress them and take them to the next stage. Interest stage is really important as this is where you can start building a relationship with the prospects.
After expressing the interest the decision comes; the decision of reaping the benefits of your solution. The customer starts delving deeper into your promotions and offers, as well as knowing the specs of your products. The customer now is attached to your brand and scrolling on your landing page. It’s time to build up a lasting relationship with your customers.
Finally, you’ve got a customer. The prospect chose you over the other competitors took the action and made the sale. However, this is the final stage, there are still more stages for your customers to pass through after becoming actual customers. This stage is the beginning of more profitable stages between your brand and the customer; starting from building a loyal relationship, customer retention to brand advocate.
Creating a sales funnel is not a burdensome task, even though it is not going to be effective without a deep understanding of the audience you’re targeting and the objectives you’re seeking to achieve. Furthermore, your shared content must empower this funnel by focusing on the key selling points in order to nurture your prospects properly. Thanks to lead nurturing, you are now able to shape your sales funnel and increase purchases easier and more effective than before.
What Is Lead Nurturing?
Simply it is the process of building an interactive relationship with people who are not currently your customers, but they might be idea customers in the future. This process focuses on building the awareness of the prospect and connecting them to your brand, resulting in being their most reliable source when it is time to buy the products you offer.
4 Benefits of Lead Nurturing
1- Maintain Consistent Communication
Establishing communication is a key element in generating leads, most importantly, when this communication is maintained on a regular basis. According to many marketing surveys, 66% of customers confirmed that keeping consistent and relevant communication with the brand is having a great impact on their buying decision.
2- Maximize the Value of Your Leads
Lead nurturing is perfect to ensure you get the best out of your leads every month. The main advantage here is that it allows you to keep pace with your customer’s sales stage, optimize the suitable strategy and measure the progress of the sales cycle. Ultimately, you will never miss an opportunity to improve your brand image and the number of the leads as well.
3- Find Cross-Sell and Up-Sell Opportunities
Lead nurturing is extremely effective not only to increase the number of leads and sales but also the quality of leads and the size the sales. One of the biggest advantages of lead nurturing that it allows you to widen the reach and the customer’s awareness of your brand and products. Therefore, leads are going to increase in a qualitative and quantitative way.
4- Encourage Referrals and New Lead Generation
When you provide your audience with valuable content, they are more likely to share this content and forward it to new audiences. Referrals are considered one of the most effective ways of lead generation since it is more trusted and reliable than the traditional ways of promotion.
There’s no shortage of reasons to make lead nurturing an essential part of your digital marketing strategy; you’ll build awareness quickly, build loyal relationships with people who are interested in your products, you’ll be certain that your brand is going to be the first choice in the customers’ minds when it is time to buying.
Briefly, no matter how unique your industry is or the type of products or services you offer, it is the same funnel through which all customers pass. Thus, understanding how the sales funnel works is just the start on your way to stay ahead in the competition. On the grounds of lead nurturing, generating a sufficient number of leads and boosting sales becomes feasible.