Optimize Funnel, don’t let this word intimidate you. Or conversion funnel or marketing funnel or funnel hack or any other ‘funnel’ phrase that’s in vogue.
The funnel is merely the steps the business takes from marketing and advertising through to repeat customer business.
If your business already markets a product or service, you already have a funnel. It might not be a good one, but you have it. Once you have a funnel in place, the next step is to optimize that funnel.
Understand that putting together a good marketing funnel will take time.
Let’s take a look at the elements of a funnel and what can be done to optimize funnel and improve it once it’s set up and running.
The funnel itself is merely the processes that are used to take someone from a prospect or potential customer to a lead to a paying customer to a repeat customer.
Every step of the funnel, from beginning to end, can be optimized and improved to increase sales.
This makes it necessary to understand the purpose of each step of the funnel, and how well that step is performing in leading the prospect to the next level of the funnel.
At the core of any funnel is the simplest funnel of all.
- Website Visitors
- Repeat Customers
No matter how sophisticated a funnel may be, or how many sub-steps in each of the above steps are needed, this is what a funnel is designed to do.
For example, if a business is selling a complex and complicated $5,000 product, the above simple funnel may have numerous steps within each step to educate potential customers, so they understand what the outcome will do for them.
If a product is a simple $10 ebook, a funnel can be very simple.
The Main Elements of Every Funnel
These are the elements that will be part of any process to optimize a funnel to improve conversions.
You are merely looking to make people aware of your business or offer. This can be through advertising channels like pay per click social media, or organic search traffic.
To optimize this part of the funnel, an analysis of this traffic is needed. Things such as what percentage of people that see a pay per click ad click through to your offer. Then test different aspects of your ad to try and improve this click-through rate.
Here you want potential customers to take the next step and become a lead by opting into your email list.
This means a landing page designed to create enough interest that visitors will give up their email address for whatever free piece of content you are offering.
Here you’ll use the conversion rate from visitors to options (visitors that give you their email address). Test things like headlines, images, bullet point copy, and your free offer.
Create desire in your product through content in your email newsletter.
What can be optimized here includes open email rates, which is the percentage of people that receive your email and open it. The element to test and improve here is the email subject line.
The other element that you can track and improve is the number of people that open the email that click the link in the email that goes to your offer.
This means testing and tracking the content in the email, such as the length of the email and the call to action.
This is the percentage of people that visit your product offer page and make a purchase. Improving this number means testing elements on the product offer page such as the headline, body copy, images (if any) the call to action and the offer itself.
Keeping Customers Engaged
Many people ignore this part of the funnel, but it can have a significant impact on company profits. This is merely following customers engaged and turning them into repeat buyers.
If a company doubles the conversion rate for their email leads and doubles the conversion rate on the sales page, they won’t increase profits. They will grow profits four times over.
In other words, if they were getting one customer from every 100 visitors to their landing page, they will now get four customers from those same 100 visitors.
That’s the power of an optimized funnel.