What are Funnels and how do they help in Business Growth?
A business may have the best website, run a bunch of ads, and it may still not be able to generate enough conversions. It may get you leads, a lot of traffic, and even a lot of new users, but that may not necessarily account for anything. Ever wonder why is it so? And, how are some people able to convert traffic into business in what may seem like an effortless means to do so? The answer to these questions lies behind the concept of marketing funnels, or, simply, funnels. Before we get to how funnels help a business grow, it is important that we understood a little something about what they really are.
Understanding Funnels
There must be a reason behind why you want a certain user to visit your website and what exactly you want them to do. If you can’t think of a reason, then you are doing it wrong. There are a host of different things that one can perform on a website, such as registering themselves, signing up for a newsletter, leaving their email address to download a certain file or an eBook, or something as straightforward as purchasing one of your many services. When a certain visitor performs an action that you intended them to, then it is called a conversion. And, with the right funnel, you too can cause your leads to perform a desirable action, which could prove to be beneficial for your company — irrespective of whether it is a small start-up or an established business organization. A funnel comprises a bunch of steps that help steer a visitor into the direction you want them to go or take a certain action that you wish them to. Say, for example, you want a person to download an eBook from your website. He/she will have to go through a series of steps to do that. First, they’ll have to log on to your websites, browse your website and see what you have in store, click the download button present on the selected file, and, finally, provide a few details of your choosing to complete the process. Keep in mind that this is the funnel when it comes to downloading something from your website, and it may not necessarily translate well for some other action, such as subscribing to your newsletters. In addition to that, the user could also visit different sections of your website, go to your social media space, etc., but that need not be taken into account as they are less relevant when it comes to the action of downloading something from your website.
Of All the Things, Why Call It a ‘Funnel’?
The answer is as clear as day — the number of people visiting your website is significantly higher than the number of people performing an intended action. Just like the volume of water is significantly higher than the volume of the water leaving it — isn’t it? So, if the number of unique people visiting your website increases, there’s a chance that the number of conversions might increase too. That’s why it is important that you cast a wide net, and that’s why big companies spend a lot of money marketing their products, advertising them, and informing more people about them. It is actions like these that help you widen your funnel, and, succeedingly, lure in more visitors. And, remember — only a person interested enough in what you are offering will make it out of the funnel, so be sure to keep them interested and informed. Based on what action you want your visitors to take, create a funnel for it. Try and keep it simple — the lesser the number of steps in your funnel, the more likely it is for a visitor to do what you expect him/her to.
How Can It Help My Business Grow?
A well-made funnel not only tells you how many of your visitors are converting but also helps you see how many of them you are losing in certain stages of it. For instance, someone could simply visit your website and not opt for any of your services. So, this way, you are losing a potential customer right after the first step. Now, what measures can you take to ensure that the person takes further steps into the funnel? Maybe give them a free downloadable file that could offer them what they came looking for on your website? And, if they love it, then you are in luck as it may motivate them to opt for some of your services. Everyone loves freebies, and chances are that your visitors will love them too.
Improving Your Funnels
Like we discussed above, funnels can serve as key indicators of the areas that you could make adjustments to ensure that they are aligned with your business goals. But, how does one keep track of all that’s happening in each and every step of their funnel? Well, you could employ tools such as Google Analytics, which will do just that for you. Using this tool, you can set up a bunch of different conversion funnels and monitor them as frequently as you need. Similarly, you could also try a bunch of other funnel software, such as GetResponse, Kartra, Keap, ClickFunnels, Wishpond, Thrive Themes, Leadpages, Landingi, and Instapage, among others, based on your needs. Do note that these tools, except for Google Analytics, may require you to pay a certain amount for you to be able to use them to their fullest potential.
Well, now that you know what a funnel is and how it can help your business turn leads into conversions, it’s time that you compiled a list of actions that you might want your new-coming visitors to perform. Sort that out, create the right funnels, analyze them using the right funnel tools/software, and make the required improvements, and watch your business grow. It may take a while, but with the right strategy, the opportunities are limitless.
