Do you have an e-commerce store, a coaching business, an insurance business, a Network Marketing business, a Real Estate Business – and anything in-between? Everyone and every company needs a roadmap to take you from Step A to Step Z. Whether this is a Marketing funnel or Sales Funnel, you need to define what your objective. And, this is where I come in…
What Are Funnels?
You undoubtedly want visitors on your website to take certain actions. Maybe you want them to make a purchase, sign up, or fill out a form. When someone does something you want them to do, it’s known as a conversion. The visitor converts from browsing to taking the action you want them to take.
A funnel is the set of steps a visitor needs to go through before they can reach the conversion.
Think about the Amazon purchase funnel. There are a few steps a visitor has to go through before they can purchase a product. Here’s how it looks:
- They have to visit Amazon.com
- They have to view a product
- They have to add a product to the cart
- They have to purchase
Why Funnels Are Beneficial
With a funnel report, you can see where you are losing customers.
Let’s take your average SaaS business as an example. Here’s how a funnel may look for them:
- Visited site
- Signed up for a trial
- Used product
- Upgraded to paying
Do people have to use the product before paying? They don’t, but it’s a good idea to track it so you can see if it’s a roadblock for them.
Here’s how that funnel would look in the Kissmetrics Funnel Report:
In this example, the business manages to get 165 people to use the product, but only 13 people convert to Billed. There are opportunities for improvement at every step of the funnel, but it’s important to first work on the areas that need the most attention. The more people they can convert to Billed, the more revenue they’ll have. This should be the first area of the funnel to optimize.
A Funnel in Real Life
Funnels occur everyday with consumers. Let’s look at the funnel process for a retail store and see the corresponding steps in an ecommerce store. We’ll be tracking a purchase funnel.
- Do You Know Where Your Next Money-Making Customer Is?
- How Are You Attracting Customers?
- Are You A “Smart” Business Owner Or One Who Makes Bank?
- Do You Know How To Create A Money-Generating Automated Sales Machine?
If you don’t know the answer to one of these questions, then you need we need to jump on a strategy session. This strategy session is perfect for you if you are looking to drastically improve your business.
With that being said please understand that this window of opportunity won’t be available for long and what we have found is those who have the ability to make decisions and act quickly are the most likely to get results and most likely to become our best clients and crush it together for years to come.
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