Sales funnels are a great way to increase conversions and revenue for your business. But what exactly are a sales funnel? And what are the different types of sales funnels that you can use?
A sales funnel is basically a process that you take your potential customers through, from initial awareness all the way to conversion. By doing this, you can better track and measure your results, and see where you might need to make improvements.
There are 7 main types of sales funnels that businesses use:
1. The Awareness Funnel
The awareness funnel is the first stage of the typical buyer’s journey. At this stage, potential customers are just becoming aware of their problem or need. They don’t yet know about your product or service, but they are starting to search for solutions.
As a business, your goal at this stage is to attract potential customers and get them interested in what you have to offer. You can do this through content marketing, SEO, social media, advertising, etc.
2. The Interest Funnel
At the interest stage, potential customers are aware of their problem or need and are now looking for more information about possible solutions. They might start comparing different options and researching various products or services.
At this point, it’s important to continue providing helpful information and building trust with your audience. You can do this through blog posts, case studies, ebooks, webinars, etc.
3. The Evaluation Funnel
At the evaluation stage, potential customers have decided on a general solution to their problem or need and are now comparing different options to find the best fit. They might be considering your product or service, but they’re also looking at your competitors.
As a business, your goal at this stage is to convince potential customers that your product or service is the best option for them. You can do this through free trials, demos, price comparisons, etc.
4. The Decision Funnel
At the decision stage, potential customers have made up their minds about which product or service they want to buy. They’re now just trying to decide if your particular business is the right one to purchase from.
As a business, your goal at this stage is to close the deal and get the customer to purchase from you. You can do this through special offers, coupons, discounts, etc.
5. The Sales Funnel
The sales funnel is the final stage of the buyer’s journey, and it’s where the customer actually makes a purchase. But the journey doesn’t end there! Even after a customer has made a purchase, you still need to provide them with post-purchase support and continue building that relationship.
6. The Loyalty Funnel
The loyalty funnel is all about turning customers into brand advocates and repeats buyers. This is done by continuing to provide excellent customer service and support, as well as creating loyalty programs and other incentives.
7. The Referral Funnel
The referral funnel is similar to the loyalty funnel, but it’s specifically focused on getting customers to refer your business to their friends and family. This is done by continuing to provide an excellent product or service, as well as offering referral bonuses and other incentives.
By understanding these different types of sales funnels, you can better map out your own sales process and ensure that you’re taking your potential customers through the journey in the most effective way possible.