Ways to Optimize Your Conversion Funnel

05/13/2016 0 comments
Ways to Optimize Your Conversion Funnel

Conversion funnel is a phrase used in e-commerce to describe the journey a consumer takes through an Internet advertising or search system, navigating an e-commerce website and finally converting to a sale. The metaphor of a funnel is used to describe the decrease in numbers that occurs at each step of the process.

Even if your goal is to get your visitor to take a simple action – such as signing up for a free newsletter – you have a conversion funnel.

In order to maximize the value of the visitors you get, it’s important that a clear path to conversion is laid out for them once they land on your site.

You also need to reduce any points of friction that could lead a visitor astray or make them question their decision to come to your site - things like poor design or imagery, lengthy contact forms, and positioning of trust factors.

 

In a typical buying process, a buyer actually goes through a series of steps to complete your goal. These steps, in traditional marketing are often referred to as AIDA model. AIDA stands for Attention > Interest > Desire & Action.

Unlike a physical store, where the sales person has the ability to communicate with the buyer and also read his body language to better understand the needs and wants, a website just doesn’t have that luxury!

  • First, your potential customer becomes aware of you or your product.
  • Second, you build interest in your product. (The funnel gets smaller because not everyone who is aware of your product will have interest.)
  • Third, you need to plant the seed of desire for your product or service. (Once again, the funnel gets smaller because you can’t expect everyone who is interested to actually desire your product.)
  • And finally, ask for an action. As an example, the action might be to buy something or sign up for an email list. (This is the smallest part of the funnel because a small percentage of the original potential customers will take action.)

 

We can add more goals to conversion funnel, depending on what we want to emphasize:

  1. Category Awareness
  2. Brand Awareness
  3. Ad Awareness
  4. Message Association
  5. Brand Imagery
  6. Brand Consideration
  7. Brand Favorability
  8. Purchase Intent
  9. Purchase

 

Building a Simple Conversion Funnel

It’s important to realize every venture needs determination, focus and hard work. Same goes for building a conversion funnel.

First, it’s necessary to ask yourself what your goal is. Most likely, you would like to increase the percentage of prospects traveling through each step in the funnel. Ideally, more people should complete the last step or final desired action, which is purchase.

You just need to understand it, analyze it, and consistently improve your involvement in attracting prospects and turning them into customers.

Image 1. Conversion Funnel Example

 

4 Levels of a Simple Conversion Funnel

Awareness

First, you need to think about how prospects became aware of your product and where they came from, i.e. what their initial way of learning about your product was.

It’s good to determine your methods of making people become aware of your product.

These questions might be valuable to conducting this process in the best way:

Did you advertise? What’s your click through rate?

Do you get traffic from organic search results? If so, which pieces of content reach more people?

Do people find you through social media? If so, do they click through to your website to learn more?

Make sure you’re properly targeting your customers so you aren’t working on pulling the wrong type into your funnel. You’ll spend too much time and money trying to convert them. Think of who your ideal client is and target them. You can always cast a wider net later. Find detailed instructions here.

Interest

It’s crucial to discover the best way to spark interest. Write a headline for your website that grabs your visitors’ attention immediately. Then, craft content that keeps their attention. You should hire good copywriter. They can be invaluable for this step. Content and websites that keep visitors interested and engaged are crucial for helping the prospect get to know, like, and trust you. You can publish blog posts and share new important information.

How can you tell if your “interest” level of the funnel is working? You can ask your visitors to exchange their email information for that free goodies. This is a simple and effective way to see who has more interest in your product or service.

Desire

An autoresponder series is perfect for this. It continues to build the relationship between you (the marketer) and your potential customers. Try composing a message that seems unique and targeted. Avoid something generic, because that won’t work. All customers need to feel you are paying attention to each one of them. This is never easy, but try to think of a message you would like to read if you were a customer.

Remember, people need a solution to a problem. What problem are you going to solve with your product or service? Make them desire that solution and you won’t need to promote the product! Again, a good copywriter help you so much in this area.

This level of the funnel can be a little tricky to analyze. But a measurable metric is how many people take the action you ask for. You’ll know you’re developing more desire as you get a higher percentage of prospects to take action, which is the next level.

Action

It’s sad to say only a small percentage of prospects make it to this level. That’s why you should use the conversion funnel to analyze your sales process and make improvements at each level.

However, once someone buys, don’t stop there. Your best customers are your loyal customers.

Think about other product funnels you could move them into. If you don’t have any, it might be time to expand your product line, create a new service, or even promote affiliate products. Even rebranding can be an option. See more here.

 

What to do about people who didn’t become your customers?

Don’t be too disappointed if your prospects don’t buy products on your first try. Only 1-5% of customers who enter the funnel come out at the bottom. If they go out of your funnel, try finding another approach to get their attention and start once again. Try to get them back in your orbit.

In addition, learn as much as you can about the people who took action and those who didn’t.

What differences were there?

How could you motivate the people who didn’t take action?

Answering these questions will help you create your conversion funnel to perform at its best.

The easiest and most effective thing to get more customers at the end of the funnel is, most certainly: discounts and giveaways.

 

Image 2. Conversion Process Estimate

To conclude:

  • You should always give site visitors a solid introduction to your business
  • Make a strong call encourage to action
  • Never fail to follow up with leads
  • Make a clear path for visitors
  • Provide support and diligence to each level of the funnel
  • Target the right audience
  • Don’t ignore analytical data
  • Participate in marketing
  • Do NOT treat sale as the completion of conversion funnel
  • Be patient

We sincerely hope our article was helpful. If you have more useful ideas, we encourage you to inform us about them in the “Comments” section below.


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