What CEOs ought to know about conversion funnel

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What exactly do CEOs ought to know about conversion funnel?

Are you a business owner or manager, captivated with the progress the world is making in technology?

Yes, you are captivated, yet stuck on how you could use it to your advantage for your business.

Before you can say ‘Jack Robinson’ or get used to one social platform, another is out and promises to be the biggest thing since sliced bread.

Has all of these changes left you wondering how your business could compete and thrive in today’s tech and social-media powered world?

Your biggest question has always been “how do I really use the Internet to grow my business?”

You know you need an online presence, however, your current website (if you’ve got any) and social media platforms are not doing anything to add significant zeros to your bank account.

If this is you then you’re in for a great treat.

In this post, I’m going to share with you the one important thing you need for your business to thrive online in today’s modern world.

And by thriving I mean connecting with the right people, building relationships, attracting leads and clients, increasing sales, growing revenue and multiplying your business value.

In today’s fast paced world driven by technology, social media and robotic engineering, for any business to catch up, it needs to operate with lightning speed while building sustainable growth capacity.

It is due to this fact, that having an online presence, powered by just a static traditional website and a couple of dormant social media profiles will fail you as a business owner.

What you need instead is a conversion funnel.

This is the one important thing that needs to power your online presence for sustainable growth and sales success.

Okay, you may be asking, “what’s a conversion funnel?”

Think about a conversion funnel as a framework for online business growth.

Businesses today need clients and to do that they need prospects or leads. To make that happen, they need to build an audience of people that will grow to know, like and trust them.

To turn a complete stranger to a customer is like drilling for oil in a cardboard mill. Close to impossible!

However, when businesses take off the need to sell and take on the need to help and serve, great things happen.

Your target audience becomes more approachable. In fact, they become willing to hear from your business because you’re meeting their need.

Today’s customer’s need is an insatiable need for insight, ideas and information to help them make informed and empowered purchasing decision.

Great information that answers their question, douses their concerns and gives them an inspiration for the future.

This is how modern businesses must find and attract an audience. With the possibility to grow that relationship from an anonymous audience to a lead, to a customer, then a loyal advocate.

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The framework that makes this happen successfully is the ‘Conversion Framework’ or the ‘Conversion Funnel’!

Your website acts like a digital billboard not knowing what to do when a visitor lands on it. Your conversion funnel on the other hand, leads an anonymous visitor to go from a stranger to a loyal advocate.

The entire process attracts an audience, captures a lead and leads them down the path of conversion and repeat purchase.

If you’re not familiar with the term sales funnel, just skip ahead to where I break down what a conversion funnel is.

However, if you’re familiar with the term sales funnel, I need you to know that this is much more than that.

Let me explain why a sales funnel is only one part of a successful sales system and why a business needs more than just a sales funnel.

A sales funnel typically shows a path to grow and ascend your leads towards your different offers and products from the lowest to the greatest.

I consider a sales funnel, however groundbreaking that idea is, to be an integral part of a sales system. It doesn’t give the whole picture that works to capture, retain and delight customers most especially aligned with customer journey behavioural data.

For a sales funnel to be effective, it needs a content funnel. This is utilizing content that works together in synergy with sales in mind.

It needs a marketing funnel that works in alignment with customer behaviour and traffic temperature, to move strangers to leads, and leads to customers.

It also needs an ads funnel. Advertising is more than just driving traffic to a site or driving traffic to a lead magnet.

It must capture the whole customer journey and entire funnel as well as support email automation with smart retargeting.

Also required, is a life-cycle nurture sequence with a goal to increase customer value, and not some email blast when you feel like it. And life-cycle sequence lives beyond the email. In today’s mobile-first world, it includes mobile and social touchpoints without being obstructive.

At the end of the day, the results must be trackable, measured, analyzed and optimized.

Not to mention that a sales funnel is limited in the way it tends to lead all your leads down the same path of purchase.

It is pure short-sighted to think you can box all your leads into same offers. You should consider how different those leads and clients are. But who cares, it’s a sales funnel! So that makes it perfect.

Which is totally wrong!

Furthermore, effective sales funnels don’t stand on their own. They are supported with content that attracts and qualifies your prospects. And this isn’t one piece of content, it’s a content funnel.

Social media activities that help build an audience also support sales funnels.

Stacking sales funnels on each other do better than when they stand alone.

To keep this brief, lastly, sales funnel are matched with lead tight, customer life-cycle nurturing. This is key if you’re ever going to increase your customer value and motivate them to buy and buy over and over.

So you see, without these, a sales funnel is just another word for attracting leads and subscribers with an incomplete plan to grow the relationship based on your clients’ needs and not yours.

However, there’s good news.

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Here comes the “Conversion Funnel”

What a sales funnel lacks, a conversion funnel provides. A conversion funnel solves the anomaly of the regular sales funnel.

As you can tell, there is no shortage of information. Be it on online marketing, content marketing, PPC advertising, sales funnel, social media, email marketing etc. However, what you won’t find is a strategy, a framework as it were, that ties it all together.

The conversion funnel fills that gap and brings together all the scattered buzzwords, make them work together as one synergized unit.

“A conversion funnel is a framework for online sales success that helps businesses leverage inbound and content marketing to build awareness and a raving audience, utilize a marketing funnel to capture the right leads, apply sales funnel to grow and ascend the client-business relationship so as to turn customers to repeat buyers, implement life-cycle nurture to engage and delight customers to loyal advocates and fans all the while optimized by analytics and customer behavior data.”

In other words, a Conversion funnel is an integration of individual marketing tactics and campaigns into a powerful Marketing Engine. This increases sales, grows revenue and set your businesses apart from the competition.

That’s a simple definition. Though a mouthful, it is the proven framework every business needs to succeed online.

A conversion funnel is put in place to help you build raving fans and attract leads. It helps you convert them to customers and sustain the relationship. This you can do while amplifying your results by gleaning useful customer behaviour data so that you can get better business outcome.

It recognizes that not all leads are created equal. Even though a customer bought one offer, it doesn’t make them fit. It doesn’t make them ready or interested in the next offer on your value ladder.

A conversion funnel succeeds in the fact that it puts back customer journey analysis and behaviour data back into the sales funnel. Click To Tweet

Conversion funnel utilizes the advantage of marketing funnel, content funnel and life-cycle nurture to amplify your results.

It maximises every online and mobile touch point to build customer attraction, customer retention and customer delight.

Is your business lost in the sea of so many ruffles and ripples? Or it appears to have been capsized by the waves of digital media? A conversion funnel puts you back in the driver’s seat.

Want to begin to attract leads, clients and sales? Do you want to sustain that effort with inbound and content marketing?

Do you want to maximize analytics and customer data for insights? Want to retain and nurture your customers with unobtrusive maximum touch points beyond email marketing?

Then, it’s time to launch a conversion funnel.

Our previous posts talks about how you can implement online conversion funnels.

No more wondering and asking the question “how do I really use the Internet to grow my business?”

You have the answer staring you right in the face.

Implement the right framework for online sales success.

Launch a conversion funnel now.

Start today.

Let’s chat to make this happen for your business.

 

Ifeoma Illoh is a data driven digital marketer focused on revenue growth and customer retention. As a senior digital marketing and PR consultant she works with businesses to activate and grow consistent revenue using digital channels and online media platforms so they can attract leads, maximize sales and grow exponentially. This is ultimately so that business owners can make impact, have influence and build the legacy they desire. She's the Founder of WiredInn Digital agency which she built from ground zero . She's actively the Chief Content Officer here at OMI.

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