Despite the claim of this picture, there’s nothing magical about small (and large) businesses using a funnel strategy to move prospects into repeat buyers. It’s a proven tactic that can be applied to any aspect of engagement with your potential customers such as your sales cycle, social media efforts, website, and/or advertising.
But the most important piece of the funnel conversion strategy is the emphasis on nurturing prospects through the layers by sharing more about your business or product. While you will naturally end up with fewer prospects at the bottom of the funnel than the top, they will be repeat buyers and advocates for your small business.
So how does it work?
The top of the funnel represents the first interactions your prospects have with your brand. In our vast digital world, this first touch might be through online searches, banners on websites, business listings, media coverage, etc. You are introducing your business and its value without a sales-tie in…yet. Applying funnel conversion strategy to your website, this might show up as blog articles, FAQs, or tip sheets.
In the middle of the funnel, you are engaging potential customers whose interests are piqued. You are sharing more about your business or product and encouraging them to interact with you. You are building their trust and showing how your business or product is a better choice than others in the marketplace. On your website, this could be testimonials, behind the scenes looks, and exclusive product use tips.
The bottom of the funnel represents your opportunity to seal the deal. Prospects at this stage know who you are, are familiar with your brand and primary differentiator, and now it’s time to close the sale. Using the website example, this could be through a free assessment or trial, exclusive discounts, or free shipping. This content should be strategically considered to connect with other portions of the funnel.
There’s no magic here. Or if there is, you are in control of the wand. Nurture prospects through the funnel and they’ll be ready to convert to customers again and again.
Need help? Once you have received your loan through Northern Initiatives, Business Services experts can guide you through the process and help your small business grow.