Are you one of those business owners trying your best to increase your revenue, but the results are not as you expected? Wondering why your leads are not converting? Today, One of the biggest challenges a business may face is having a leaky conversion funnel. Seize this opportunity and learn how to create a funnel to skyrocket your revenue.
Note: Need a pair of sharp eyes? WatchThemLive is a behavior analytics tool that enables you to monitor every action that your user takes from the moment they arrive on your website to the moment they leave. Read on to get the hang of it.
What Is Conversion Funnel?
A conversion funnel (or sales funnel) is a visual representation of your user’s journey through your website from the moment they become aware of your existence until they complete your targeted action.
The classic conversion funnel, the AIDA model, has four stages:
First, people become aware of your business, next, they become interested in your product; then, you grab their attention and help them make a decision, and finally, encourage them to take action.
If you want to improve your funnel, you need to optimize all of its stages by focusing on your customers; then, you are able to identify drop-off points and remove them to boost your conversion rate.
Should I Use AIDA Model for Creating a Marketing Funnel?
Before we explain how to build a sales funnel, we need to mention an important point. It’s clear that you can’t convert all your visitors into paying customers, but using a funnel-shaped model makes you interpret their journey in an unrealistic way because prospects may get stuck in the sales funnel’s loops rather than moving directly from the first to the last stage. So you need a flexible conversion funnel that shows their real-world journey and emphasizes more on lead nurturing and customer retention:
If you look at the picture above, you can see two different marketing funnels. In the one on the left, you can see four stages based on the AIDA model which is the traditional model. But in the one on the right, you see two loops which mean people loop back in different stages in the sales cycle before they make a purchase. The one on the right is more likely to happen and you should nurture them in order to turn them into customers.
Can I Create My Own Sales Funnel?
You may be curious about how to make funnels. A sales funnel is the most important part of your business in which your prospects turn into paying customers. If you want to have a successful funnel, first consider the following tips; then, look at these sales funnel examples for in-depth understanding.
1. Attract the Right Target Audience
In order to increase your revenue, you need to get the right people to your website. Finding the target audience and guiding them in their journey help you generate more high-quality leads. Then, try to nurture them and improve customer relationships. You can absorb them by updating your blog posts, sharing your content on social media platforms, or email newsletters.
Finding high-quality leads is one thing and keeping them is another thing. Many factors like slow loading time, confusing CTAs, and bad customer service can influence your customers’ decision-making. However, you can use a behavior analytics tool to monitor their activities and understand why they change their minds and leave your website.
One of the great behavior analytics tools is WatchThemLive which has useful services like session replay. With session replay, you can replay your visitors’ recorded sessions to find out your website’s drop-off points and fix them as soon as possible.
We showed you the ropes, sign up for FREE and give WatchThemLive’s session replay a try.
2. Determine Your Target Audience Journey
Here, you need to set up your goal. It means you should determine what action you want a prospect to take. Sometimes, you need your prospects to make a purchase; sometimes, you want them to sign up for your newsletter.
By determining goals for each stage, you can increase your chances of success in meeting your goals and create a great buyer’s journey which will have a positive effect on your sales funnel. Each part of the funnel should have a separate marketing plan:
- The top: This part of your funnel is related to building brand awareness. You should try your best to grab your leads’ attention with paid ads like pay-per-click ads, influence marketing campaigns, and retargeting ads, or use organic ads like blog posts or unpaid social media posts. All of these can be a trigger for making them interested in your company and product.
- The middle: In this part, you have their attention, but this is not enough for conversion. You need to gain their trust through case studies, informative statistics, or reliable content to demonstrate they’re on the right track.
- The bottom: The final stage is more important because your leads can change their decisions and leave your desired action incomplete. So you need to give them a reason to buy your product or complete your desired action.
3. Create an Effective Landing Page
Creating a well-designed landing page has a positive effect on your prospects’ first impressions. This is where they arrive on your website for the first time through different ways; such as social media channels or your ads. You should try your best to describe your company in a unique way to impress them.
4. Nurture the Prospects
You don’t want your prospects to leave empty-handed, so nurture them. The question is why leads nurturing matters. Because it not only increases your chances to generate more sales but also builds brand loyalty and trust. So how can you nurture them?
- Educate them about your products to keep them engaged.
- Spend your time creating offers, content, and solutions that indicate you care about them and know their needs before they even ask for it.
- Keep in touch with them
- Use live chat
- Write a regular newsletter
- Talk on social media
- Send a personalized email
5. Develop Interest and Desire
Remember the AIDA model? Although “interest” and “desire” are considered separate elements, they are in fact no different. Growing the visitors’ interests or desires rely on one key factor: Creating appealing content. So how can you create engaging content?
- Create education-based content: blog posts
- Create video content: YouTube videos
- Use curated product emails
6. Make Your Best Offer
Prospects may change their minds every minute! Try to persuade your prospects to stay on your website with irresistible offers:
- Free delivery
- 10% off discount
- Free workshops
- Student discounts
- 14- day return policy
7. Test Your Funnel
Learning how to test your funnel is important to ensure your funnel is working as intended. Some CRO experts put their focus mostly on the top of the funnel and pay little attention to the rest of the funnel stages. To have a well-performing funnel, you can consider the tips below:
- Analyze your landing pages
- Analyze the registration forms
- Test all your CTAs and elements
- Calculate email conversion rate
- Conduct usability testing and your A/B test results
- Use a test subject
How Do I Create a Conversion Funnel in Google Analytics?
Google Analytics gives you insights to increase the number of newly registered users or subscribers. It can track your users’ journey, which includes all phases they go through until conversion. You can optimize your funnel by performing funnel analysis and making sure your users complete your targeted action. To set up a Google Analytics funnel, you need to set up a goal in Google Analytics; so take the steps below:
- Go to Admin > Goals > New Goal > Choose a Goal
- Select “Destination” Goal
- Turn on the “Funnel” switch
- Name each step of the funnel and add a URL
After going through these steps, your goal is saved.
Looking for a tool to add as many goals as you want? We suggest using WatchThemLive, which is one of the best goal conversion tracking tools, to measure your marketing efforts and understand the number of your visitors who complete your desired actions. Sign up now and get started with goal tracking.
In this article, you learned how to create a sales funnel that increases your revenue. Remember, don’t rely on one strategy forever! The conversion funnel is an ongoing process. You should update your marketing strategies because WHAT WORKS TODAY MAY NOT WORK TOMORROW. Besides, using a behavior analytics tool like WatchThemLive enables you to make sure that everything is fine. Sign up FREE and start your journey toward being better than your rivals.