Are you looking for ways to increase your conversion rate? You've made several attempts to boost conversions, but the results are not what you expected. It's time to reevaluate the stages of your sales funnel. In this post, you'll learn about the four key components of a sales funnel that can help you increase your conversion rate. A sales funnel is like a map that is designed for potential customers to follow.
It's the path you create for potential customers to take until they take the desired action. A well-structured sales funnel can help you increase your conversion rate by allowing you to serve potential customers at every stage of the buying process. The first stage of your sales funnel should focus on attracting potential customers. This is where you create awareness about your business and your product so that you can eventually increase sales.
You must generate the traffic you need to generate conversions. Lead conversion is the part where you demonstrate your value to potential customers. You must educate your visitors about all the ways in which they can benefit from your service or product. Promoting leads involves building and maintaining a strong relationship with your potential customers.
The fourth important stage of the sales funnel is to maintain sales momentum by gaining more loyal customers. According to Salesforce Pardot, 83% of marketers believe that nurtured leads tend to be more successful than unsupported ones once potential customers enter a sales funnel. According to Adobe, 40% of business revenues come from regular or repeat customers. These are the four most essential components of a sales funnel.
However, you can always add more components depending on your needs and objectives. For example, if you plan not only to acquire new customers, but also to retain existing ones, you should include a post-sales promotion plan. It's all about taking small, calculated steps, measuring results and experimenting until you do it right. Around 96% of the people who visit your website aren't ready to buy, so optimizing the process from “knowledge” to action is key to achieving your revenue goals. You can supplement your basic conversion funnel with social media advertising at some key moments to increase performance.