The ultimate aim of every digital marketing strategy is to drive sales and foster economic expansion for the business or venture. Though this objective might shift with the company’s current stage, it’s crucial to recognize that, at the core of every tactic, the goal is to effectively promote a product or service.
Hence, it’s crucial to seamlessly integrate the business model into the communication strategy, considering the user’s journey stages leading to the decision to purchase the specific product or service.
To accomplish this, a deep understanding of the sales funnel and its resonance with our target audience is imperative. This allows us to tailor tactics, ensuring the delivery of the perfect message at precisely the right moment.
What is a sales funnel?
A great way to grasp the concept of a sales funnel is through a simple imaginative exercise: the inverted triangle shape of the funnel creates more space at the top, signifying the presence of all your potential customers.
As the funnel narrows down, the number of potential customers decreases, as they progress through it while evaluating the decision they will make regarding your product.
The sales funnel visually represents the journey your customers take from the moment they become aware of your product or service to the phase where they decide to purchase, transforming from potential customers to actual sales.
Understanding how the funnel operates enables you to effectively guide your customer, assisting them in making a decision that translates into a sale for you. It’s important to note that for each stage of the funnel, you should have different tactics and messages tailored to the specific needs of your prospect at that moment.
The Phases of the Sales Funnel
For your customers, the sales funnel doesn’t exist; they’re simply navigating choices, making comparisons, and completing transactions. However, from a marketing standpoint, we can discover ways to make this process simpler and more enjoyable for the customer.
The sales funnel consists of three phases: awareness, consideration, and acquisition. The better we understand each of these phases, the higher the likelihood of generating a sale. By simplifying decision-making and providing additional elements at each step, we make the user feel more understood and, therefore, drawn towards our product or service.
- Awareness
This marks the initial phase of the funnel and is positioned at the top. At this point, anyone can be a potential customer as awareness about the brand or product is just beginning.
The user starts to develop an interest in the product but has not yet considered whether they have a need that would drive them to make a purchase. It’s crucial to focus on capturing and maintaining people’s attention during this phase.
What tactics work in the awareness phase?
During this phase, it’s paramount to unveil your brand and product with captivating content. Whether it’s compelling blog posts, engaging social media updates, or precision-targeted ads leveraging industry-specific keywords, these strategies play a vital role. Impactful events that resonate can also be a powerful addition. The primary goal of all tactics in this initial phase should be brand recognition.
- Consideration
In this phase, the user is already familiar with your product or company and recognizes a specific need that your product can address. The user begins to assess the available options, making it crucial to provide information about your value proposition, competitive advantages, and reasons why they should choose your business over others.
It’s important to note that consideration can be negative if the potential customer finds that the product doesn’t meet their needs, neutral if the message isn’t understood correctly, or positive if it motivates the user to make a decision.
What tactics work in the consideration phase?
During this phase, provide users with more precise information about your product. You can showcase its functionality through videos or infographics, and incorporate testimonials from other customers who have already purchased your product.
It’s absolutely key to roll out remarketing strategies that nudge customers, reminding them they’re in the ‘decision-making journey’ with your brand. For example, if they toss items into their shopping cart but don’t seal the deal, shooting a reminder email about their pending purchase can do wonders.
Another well-known tactic is offering users valuable content (e-books, guides, videos, etc.) in exchange for information. You can place a form on your website, and upon completion, reward the user with this valuable content.
- Acquisition
The interest and consideration phases act like a learning journey. If done right, guides individuals toward acquisition. This is where the user is fully informed and has already committed to fulfilling their needs.
The number of people reaching this phase decreases, as, in addition to having a defined purchase intent, they have other choices unrelated to the product and strategy. These external choices, being a separate matter, are beyond your control. However, what you can do is streamline your purchasing process to prevent the user from having even more decisions to make.
What tactics work in the acquisition phase?
The moves you make in this stage aren’t about content; they’re about handing the user compelling reasons that smooth the decision-making ride. Take, for example, tossing in first-time purchase discount codes or trial periods, letting them size up the product before making a commitment.
By recognizing and understanding these stages, you’ll have a well-defined acquisition and sales model. It’s crucial to consistently review the messages you convey at each stage, as both user preferences and needs evolve periodically.
Once you’ve got this model nailed down, you can whip up a retention strategy to nurture loyalty among users who’ve evolved into solid sales. Armed with comprehensive information about them, you can comprehend how to build a enduring relationship. Remember, retaining a customer is more cost-effective than acquiring one.
