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An effective marketing funnel conversion is achieved when brands understand what influences a customer’s buying decision.
Brands increase their chances of finalising a sale by understanding their customers’ buying journey, as well as, knowing the factors that affect buying decisions. However, it is equally important for businesses to avoid the mistakes that most customers find objectionable. In this article, you’ll get the chance to learn about ecommerce marketing funnels conversion strategies to use and mistakes that should be avoided when building one.
Reasons why customers buy
Cost and convenience have always been the business forefront for most E-commerce brands for over a decade. Low prices, efficiency and ease are top motivators for a consumer when choosing stores, products or services. However, these are not the only drivers. Customers are encouraged to buy and become loyal to a brand due to a range of drivers. It can further vary by demographic, age and a lot more.
A lot of businesses make the mistake of thinking that low price and a simple shopping process are what most customers are looking for. While this may be true, it can also change from one person to another. Failing to understand that dynamic nature of leads and customers can easily hurt a brand.
People buy when the product or service fits who they are or how they see themselves (or both). Brands should really take the time to know who their customers are, who they want to be, or how they perceive themselves to be.
Customers buy to experience something. Apple stores are the best example of the power of customer experience. Buyers who visit the Apple stores are given the chance to experience their beautifully designed products. Once customers enjoyed this experience, the gadget is often hard to ignore. Through customer experience, Apple is able to beat a very tight marketplace.
Value is an important driver in encouraging customers to buy. Amazon customers value the ease of buying and finding a range of affordable products on the website. Whole Foods customers, put huge value in buying from a store that sources products responsibly not minding the higher price. Brands should always consider providing unique selling points to their customers.
Brands should identify common problems that their audiences are facing. Providing products or services that will solve daily issues should always be a priority for every business.
Customers are motivated to buy products or services that help show that they are a part of a community. For example, consumers who identify themselves as breastfeeding mothers or college students. Customers are always looking for ways to connect emotionally with a product or service before they complete a purchase. The best way to prompt a connection is to target a specific niche.
Applying Jobs-to-be-done Theory
Many companies succeed in selling their products or services to their customers because they their may strategy is to provide an irresistible solution. The Jobs-to-be-done theory simply asks the question “What job your product is hired to do?”.
For example, consumers would say they purchased a driller to “create holes into fixtures or furniture,” and this is true. However, if a drill making company would take a look at the higher purpose of creating holes, they can say, “use a driller to try DIY decorations,” then it might forgo some efforts to make better drillers instead it may consider developing an especially designed fixtures and furniture that doesn’t need a driller. The JTBD concept is all about innovating the products and services so that customers see it in a completely different light.
Common marketing funnel model mistakes
A sales funnel is the core of any marketing plan. Understanding common mistakes are critical in helping brands achieve success. Even the biggest, most commercially successful brands are constantly working to improve their marketing funnel and conversion rate, and the tool can make some serious mistakes at times.
Not engaging the leads in the right way
Failing to keep the interests of new visitors is a big mistake that brands should avoid at all costs. This can happen when the landing page does not automatically address the specific needs of the first time visitors. When customers are not sure what their next steps should be, they will walk away and explore the website on their own.
Brands should have a series of dedicated landing pages which is structured in a way that puts the best foot forward the business. According to data published by Hubspot, 92% of marketers consider landing pages to be highly effective in converting customers.
Not tracking enough data
Marketers should consider focusing on smaller but crucially important data like exit pages, return visitors and scroll patterns. Remember while big-picture data like page views and bounce rates are important, these small data also play a huge role in providing actionable insights for the sales funnel.
Using weak Call To Action
The best way to convince customers to do something is to actively invite them. Using smart CTAs is a huge help with everything within your digital marketing funnel. Users will be inspired to do something on a website when they are directed the right way. Brands should consider making sure that they create a sense of urgency and use unique action words to encourage the customers to finalized the purchase. CTAs are not only applicable in your website but also on all your channels including email marketing efforts and social media.
Failing to nurture the leads
Brands should not end with making sure leads have brand awareness. This is why content marketing is always a crucial part of running an online store. Consider using marketing funnel automation tools like content segmentation to ensure that all of the new leads are drip-fed with personalised content. Also, it is important to use lead scoring to evaluate the contacts that are readiest for the sale and move them along the funnel accordingly. Some of the best software that helps nurture potential customers are Smartech, SendX.io and Omnisend.
Not testing multiple payment gateways
When building a purchasing funnel, brands need to consider the right type of payment gateways. Remember, payment methods in the real estate industry may not necessarily work in the e-commerce sector. Another consideration is the number of allowed payment gateways. Too few options and specific types of customers may not be accommodated. Too many options may scare some leads due to the sheer number of choices.
The best solution to boost growth is to continually test combinations of various types and numbers of payment gateways. Consider these popular payment options Paypal, Stripe, Google Pay, Braintree, WePay and Authorize.net.
Examples of excellent marketing funnel conversion tactics
Even the biggest brands use marketing funnel. Here are some of the best marketing funnel examples that you can use for your own business.
Netflix enjoys more than 130 million subscribers in 2019 and it is still growing. In the heart of its marketing strategy is an excellent sales funnel. Netflix features 5 stages of the marketing funnel which includes:
- Lead page – Netflix’s lead page features a simple yet powerful offer, “See what’s next.” They also included a powerful sub-heading (Watch Anywhere. Cancel Anytime). Also, their call to action button also conveys a powerful message, which allows customers to enjoy a free trial.
- Choose your plan – The second page is also simple, it allows users to choose a plan and reminds them that they will not be charged for the trial. Moreover, users will also receive a reminder email if the trial is about to expire.
- Choose a price – Netflix highlighted the premium plan so customers are given the sense that they are signing up for the best value ever.
- Sign up page – Customers are encouraged to enter the email address and click on the continue button.
- Payment page – The last step is the payment stage where Netflix will ask for the credit card or PayPal details.
Netflix employs a simple and straightforward marketing funnel conversion tactic where they talk to the customers every step of the way.
Convertkit is a popular email autoresponder tool. Convertkit uses a simple 4 step marketing funnel that targets creators both of digital content and physical products.
- Landing page – The landing page features an easy to understand headline and two calls to action buttons. “Get a free trial” and “Watch the Demo”. The color coordination between these two buttons encourages users to click on the green free trial button.
- Survey Questionnaire 1 – Once users click on the free trial button, it will lead them to a page with a series of questions. The questions are intended to help ConvertKit understand “who” wants the free trial. It also enables the brand to personalise its messages.
- Survey Question 2 – Once leads can answer the first question, they will receive another page that asks, “If you have a website or not?”. Again this is the brand’s way to help deliver unique messaging. Throughout the entire funnel, users will also see a progress bar, which shows how many steps left to complete the purchase.
- Sign up page – The last page is a sign-up page where users can drop their information. Customers who reached this page are most likely the ones who will buy the product or service.
ConvertKit’s marketing funnel is extremely effective because it collects very important data. These data help the brand understand why the customer is there and what the customers need.