Marketing funnel importance

Five areas where your Marketing Funnel is leaking profits

For online entrepreneurs, there’s nothing as creepy as a hole in the marketing funnel. It drains out not just your profit but dreams as well. How many times have you watched all your effort washing down the drain, just because the marketing funnel you have is a perforated one?

Well, to tell you the truth, there’s no Marketing funnel that doesn’t leak.

The reasons?

  1. There’s no marketing funnel template that fits well with all those business needs
  2. Customers react differently to different products/services. So it is unlikely that the marketing funnel will bring ROI and create conversions soon as you create it

Okay then, what’s the best thing you could do? Find out all those points where your marketing funnel leak. Mend it as effectively as possible.

Well, let me help you. Here are five important areas where most marketing funnels tend to leak.  (Remember, these are crucial areas which if left unrepaired will damage your online revenue). The early you detect the leakages, the sooner you can mend it and stop wasting marketing dollars.

1)Ad Targeting

facebook targeting snapshot

Advertisement will remain the best marketing tool to hook probable customers, however developed the media will be. Here’s a fact that cements this belief. In 2015, social networks earned an estimated $8.3 billion from advertising.(according to Brand Watch)

But imagine the number of ads an average online user comes across each day! Will he remember it? Or will he act on it?

First of all, how can you expect a viewer to click on your ad and become your customer? Well, for that you need to know, in the first hand, who your audience is and where can you meet and grab their attention. Then go on to create honest ads.  And let them think `yes, it’s going to be  remarkably useful to me’.

If you want to know how to target the right audience as do successful brands, here you go. Use no shortcuts,  because there isn’t any!  But they DO FOLLOW the following strategy while running specific ads in social media.

Improve the relevance score of your ad. If you are posting an ad on Facebook, find help with its relevance score metric. It will help you optimize your campaign. And increase its relevance to your target audience.  Such ads will take you to more number of targets, who are likely to listen to your CTAs at a lower Cost Per Click.

facebook ad relevance score example

Here’s what you can do to improve the relevance score of your campaign:

  • Split test your ad with different images and go with the one that gets the highest relevance score.
  • Use Custom and Lookalike audience targeting methods.
  • Make your CTA more tempting.
  • Include videos because they perform better than regular ads. (Know more about improving your relevance score here)

 

2)Click Through Rate (CTR)

The impressions or CTRs is the first place your ad might leak your marketing dollars. Well, a CTR is the number of times an ad is clicked by users divided by the number of times it is viewed by users. And know the reason it leaks your profit? It’s not just you who run the ad, but all your competitors too. So where do you expect the target customer to click? Well, here’s the secret. Your target customer is always after `benefit’. But if you put ‘the benefit’ blatantly, there’s no guarantee that you’ll get clicks. Because there are hundreds of competitors who do the same. So what should you do?

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(The same book by Same Author with different Titles: The first book was Astrological Love which didn’t go well, but after an relaunch with a different title it became a bestseller)

Take the `benefit’, wrap it in a compelling `concept’! (psst..it’s the magic potion in digital marketing!). Present it with killer headlines. Justify it with heavy, relevant quality text and strong attractive images. And sprinkle freebies and keywords around!

See if the magic works! It will because viewers (we all) are emotional by nature.

3)Website

A high converting website is every online entrepreneur’s dream.  It could be yours too because it is where actual conversion takes place and you get profited. But a poorly designed website can kill your dream as well. So, it is imperative that you have a compelling website homepage( Here’s a checklist for making your homepage compelling). With all ingredients to convert leads to sales.  What makes a compelling website homepage? Here’s the list:

  • A persuasive caption that focuses on the results you promise
  • A likewise compelling sub-headline that justifies the caption
  • Relevant & high quality pictures/images
  • Straightforward, functional explanation that gives value to the customer
  • Benefits clearly focused on the customer
  • Logical flow, strengthened by persuasive  elements
  • Mentioning about what people will lose
  • Emotional pleasure cues
  • Testimonials from real people
  • Contact, Guarantee & a powerful CTA

 

4)Lead Capture

Generating leads and through that revenue is the one ultimate reason online businesses exists. And paradoxically the one area where most of them underperform.  If you are about to plug your leaking marketing funnel, do this first. Seal the lead capture page tightly. The more optimized the lead capture page, the easier and faster your lead conversion will be. You cannot do it by simply slapping a form on a page. It needs to be power packed and Customer Value optimized.

With a little attention to detail, it is easy to create a compelling lead capture page. Follow a Conversion Centered Design with the following elements:

  • An easy to fill up form
  • A headline that matches promotional ad
  • An appropriate image/video
  • A persuasive introduction and bullet point key benefits
  • Trust element (testimonials)
  • Actionable CTA
  • Retargeting pixels
  • Exit pop-ups

And don’t stop with that. Go on to create urgency. And offer post-conversion rewards ! It will help speed up actual lead capturing.

5)Follow-ups

Without an intelligent follow-up strategy, it is hard for marketing funnel to bring in the desired ROI.  So if you are a bit lousy here, it is time you perform better.  Fostering leads is essential for any business to be successful. And there is no better method as follow-ups. It can be series of emails, sales calls, SMSs or follow up ads. As a first step, learn as much as you can about the leads – be it high quality or suspect leads.

Also remember to respond quickly to leads. They have shorter time span and higher expectations.   Automate your e-mail delivery to confirm that a lead has entered the conversion process.  If your lead is ready to engage in a talk, be available at least within an hour of the call. Creating CRM resources and engaging in lead nurturing will enhance your conversion rate. (Need Help in Followups,

Conclusion:

Lead conversion is no magic. With a little patience and a great leak-proof marketing funnel in place, there’s nothing that you cannot achieve in digital marketing.  So realize your weak points and try to mend and optimize them. Success is always at your call.

Have problems in setting up your funnel, write to us or comment below.

Comments

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Jyothi Sree

Jyothi Sree

Hi, I am a creative writer turned digital marketing writer. ( Am I the only one specimen of the sort?) I love to read and write marketing stuff, since I believe it's the hardest form of writing on earth. I love your comments too, err, of course just the good ones :)