Any marketer and entrepreneur will tell you the sales funnel is one of the most important aspects of their customer acquisition process. Spending your marketing budgets without having a clear view of your customers’ interactions with your company is clearly going to raise your customer acquisition cost.
Basically, you won’t be able to see which step of the process the customers fail to pass. Thus, you won’t be able to improve it and increase your efficiency.
Define Your Audience, Create Personas.
The best way to start creating a sales funnel is by defining your audience. Before you even start pitching your products, you need to talk with the right audience. Let’s say you have a fintech company. Considering your niche, would it be relevant to engage 50 year-olds? I guess not.
That’s why you need to clearly define your audience before creating your sales funnel.
Here are the basic characteristics of a possible client for your fintech company.
- Male
- 18-44 years old
- Constantly on social media and news platforms
- Uses Facebook as its main social media channel and considers videos as one of the most attractive pieces of content
- In terms of occupation, he’s working in industries such as IT, Telecom, Finance.
- If he isn’t working in these industries, he’s most probably working in large corporations, in the R&D, Marketing or Management departments.
You can obtain these characteristics of your audience by studying the analytics of your website, social media, and by studying your competition and their customers.
Choose the most suitable communication channels
Now that you’ve defined your audience, you need to find the most suitable communication channels. For your fintech company, a few channels you can use are online news publications (with a focus on economic news publications), social media networks, IT-related websites (Stackoverflow maybe?!), and newsletters.
Remember, even though now you know the people you need to talk to, predominantly, you need to know where you can find them. Placing your messages on a generalistic e-commerce website might not be the smartest idea. Ok, we can all agree that you might find some members of your audience there, but what about the odds? 1 in 10.000, 1 in 100.000? That’s quite low! Placing a banner on StackOverflow, for example, might be more effective for your fintech company.
Deliver Useful Content
Ok, here’s a secret. Every customer is sick of messages such as: “The best product, 150% discount! Buy meeee!”. No, if you are doing this right now, stop it! Just pause all your campaigns.
Nowadays, customers expect you to deliver useful content. A blog post with the following topic: “How to send money from the US to Europe or Asia in a few seconds.” would be more likely to generate leads for your fintech company than the ad we’ve been talking about earlier.
If you don’t have the skills to come up with such ideas or create such content get your own writing partner. There are plenty of them, pick one:
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Retarget them!
You’ve got their attention and they’ve visited your company’s website. Cool, we are on the right track. Now, you need to keep them in the loop and keep on engaging them. Befriending a person is not that simple, you need to get to know each other!
You can use services such as Google Ads Remarketing and keep on delivering messages to the audience who already engaged with your company. Remember, keeping a customer is less expensive than gaining a new one.
At this point, you should deliver one or two informative ads, another useful blog post maybe. Then, you should focus your messages on conversion.
Digital Assistant, Anyone?
Right, you’ve delivered useful content, you’ve retargeted your audience, now it’s time to start making a living, you need to convert those leads.
Customers have different typologies and you need to deliver on-site messages according to their typologies. Some of them are bargain hunters, and a special offer would make them convert faster. Others research the entire market to find the most suitable company for their needs. For them, the customer reviews are very important. You could highlight your Facebook reviews in a popup box on your website.
This is what a digital assistant does. Once you’ve identified your customer’s typology, it delivers content that it’s relevant to them.
This is how you create a funnel that will make your conversion rate increase. Remember, a funnel is a road a customer goes through before buying your product or service. If you have a 4 stage funnel: Blog post, ads, remarketing, digital assistant, you need to place trackers on all these stages. You use them to identify bumps in your customers’ road.
Now, start defining your audience and get those leads, you need to generate revenue!