3 Types of Digital Sales Funnel Formulas
What are you doing to ensure your business is obtaining continuous leads and executing a successful marketing strategy online? Using digital sales funnels effectively takes away the guesswork from your marketing plan and drives real results for your business online.
What is a sales funnel?
A sales funnel outlines the steps that a user takes to move from being a prospective customer (the top of the funnel) to a paying customer and later an advocate for your business (the bottom of the funnel).
Businesses can utilize any funnel to guide their marketing strategies and increase their conversion rate. Funnels will aid digital marketing strategies as well as traditional marketing efforts.
Most sales funnels use a stage formula like this one:
- Awareness – A person comes in contact with your brand or knows it exists.
- Interest – The person shows interest in your product or service.
- Consideration – The person considers your product or service.
- Intent / Action – A conversion is made when the customer purchases your product or service.
- Evaluation – In some cases evaluation vs other options
- Purchase – Actual Transaction
- Advocacy – This customer tells their friends and family about your product or service.
Each stage of the funnel plays an important role in moving the customer to the next stage. Thankfully, there are multiple digital sales funnels to choose from. Pick the one that works well for your business.
Why does my business need a digital sales funnel?
A digital sales funnel allows you to engage and track customers at each stage to cater to their specific needs at any given moment. The awareness stage is the largest and represents the first time someone interacts with your business. The stages of the funnel get smaller as the prospects move down to the conversion stage. The middle of the funnel is where most of the nurturing happens since that’s where the customer is showing real interest.
Using a digital marketing sales funnel in your business can help you to discover the strategies that will help your audience the most:
- Understand what motivates them to research and purchase your product or service
- Give insight as to why some strategies, like email marketing, free trials, landing pages, or downloadable content, only work at some stages
- Know when to nurture relationships with leads and current customers
- Help you to build an effective plan for marketing to users at different stages of the funnel
3 Digital Marketing Sales Funnel Formulas
1. Hourglass – This funnel is the most detailed of all and includes pre and post-purchase nurturing, hence, the hourglass shape. The pre-purchase stages of the hourglass funnel are:
- Justification, and
The post-purchase stages are:
- Expansion, and
2. Looping – The looping digital marketing funnel is a less-structured format that allows flexibility for the user’s unique needs. The stages of the looping digital marketing funnel are:
- Research and Discovery Loop
- Loyalty Loop
3. Micro-Moments – The micro-moments digital marketing funnel focuses on what drives the user to enter your funnel in the first place. They are:
- Want-To-Know Moments
- Want-To-Do Moments
- Want-To-Go-Moments, and
There is no post-sale engagement stage in this funnel. Emphasis is instead placed on what the user might do when they are in one of the mentioned moments.
A good digital marketing sales funnel includes engaging pieces of content, strong calls to action, and even paid ads such as Facebook and Google ads. Your marketing campaign should be tailored to your business and must not be a general content marketing plan. Pay attention to the sales funnel stages. They are all important to increase conversion and advocacy.
Cazarin Interactive can help you to find the right digital sales funnel formula for your business. Our proven strategies are helping businesses to nurture leads and increase conversions and we want to help you.
Let us know if we can help you in any way by emailing firstname.lastname@example.org.