In my last article was showing you what a value ladder is and why you need use one for your business. You Can Read My Article About Value Ladder HERE! In this article I’m going more into what’s a sales funnel and how it works. I was touching this topic briefly in my article about value ladder. A value ladder and a sales funnel goes hand in hand.
Imagine that you walk into a grocery store. you are only going to buy bread and milk. But before you get to the bread you pass the meat dish. You are thinking, it would be great to have a steak for dinner one day. Then you buy a steak. You grab your bread and milk. Before you come to the cash register, there is a shelf with candies, and you are hungry and have low blood sugar, so you buy a candy bar as well.
A Sale Funnel Is Everywhere!
Without you thinking about it, every store you go into have a sales funnel with low ticket items, mid ticket items and high ticket items. you have even funnels with down sells as well. While a value ladder is more about offer more value for more money, a sales funnels is in place to move the customers through the value ladder.
What Is The AIDA Formula?
It’s easy to remember the four sales funnel stages by the acronym AIDA: Awareness, Interest, Decision, and Action. These four stages represent your prospective customer’s mindset.
Each stage requires a different approach from you, the marketer, because you don’t want to send the wrong message at the wrong time. It’s kind of like a waiter asking you what you want for dessert before you’ve even ordered your dinner.
The steps proposed by the AIDA model are as follows:
- Attention – The consumer becomes aware of a category, product or brand (usually through advertising)
- Interest – The consumer becomes interested by learning about brand benefits & how the brand fits with lifestyle
- Desire – The consumer develops a favorable disposition towards the brand
- Action – The consumer forms a purchase intention, shops around, engages in trial or makes a purchase
As a prospect passes through each stage of the funnel, it signifies a deeper commitment to the purchase goal. Most businesses, whether online or conventional, use this model to guide their B2C marketing efforts in each stage of the sales funnel.
Your job is to make each stage of the sales funnel as simple and painless as possible (maybe even enjoyable!) for your prospects, to motivate them to keep moving through the funnel to the point of decision.
As your business develops and leans more towards recurring purchases, you can expand your funnel by adding additional stages.
The more complex version of the funnel might look like this:
1. Awareness – when potential customers become aware of your product or service.
2. Interest – when they actively express an interest in what you have to offer.
3. Evaluation – when prospects examine competitors’ solutions and compare their offers against yours.
4. Decision – when your offer is shortlisted and it’s time for some negotiation before the final decision is reached.
5. Purchase – the moment of purchase, when a prospect becomes a customer.
6. Reevaluation – customer has been using your product for a while. Now and then they might look for other solutions that will meet their needs. (hopefully, if they’re satisfied with your product or service, they won’t feel the need to look for a different solution).
7. Repurchase – when a customer repurchases your product or service.
You should use the individual stages of the funnel as a blueprint for your marketing and sales communication. Monitor the results and optimize your actions to drive more sales in less time.
This model is geared more towards online marketer and MLM business model, marketers with subscription products or their own courses.
How To Build A Salefunnel
Blogging (awareness and interest): By blogging, you will generate awareness and interest around your solution. Content marketing is one way to build an audience and create brand awareness. Writing articles can drive traffic to your website through SEO and social media while also allowing other people to see you as an expert in your field.
Lead Magnets (interest): Any type of lead magnet is used as a tool to generate interest in your product. You grow your email list by offering something of value to your audience that they’re already interested in, such as a guide or course.
Even though webinars can be used as lead magnets, they’re more focused on the decision stage and convincing people to take action and buy your products. When people sign up for webinars, they’re already pretty interested in achieving a certain goal or solving a specific problem.
Videos (awareness, interest, decision, action): They can be used in pretty much all the stages of the sales funnel. YouTube is well-known as the second largest search engine, so by optimizing the videos for certain keywords, you can generate tons of awareness and traffic to your website.
Do You Want To Learn More About Salefunnels And How You Can Build Your Own?
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