Sales funnel for an e-Commerce business

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A sales funnel is the pictorial representation of your customer journey with your business.

In this article, you will specifically learn about the e-commerce funnel. If you are running an e-commerce business, this article is exactly right for you.

 

Are the sales funnel the same for all? 

Based on the products you sell, and the way your prospects navigate on your e-commerce store, your conversion funnel may differ.

There are chances that you have a shorter funnel and faster conversion rate if your prices are low; this is because the consumers now have one less thing to worry about when deciding whether to purchase your product.

 

Pro-tip 

If you are running an email campaign specifically for a segment of the audience with doctors in it, you need to build an email list. But how will you find doctors email addresses? Here is a tip for you.

 

How to find doctors’ email addresses? 

Use an email look-up tool such as GetEmail.io, enter the list of doctors’ first names, last names, and their hospitals’ domain names. The tool will process this information and get you their email addresses.

I hope this is insightful.

 

Sales funnel – Why do you need it? 

An e-commerce sales funnel illustrates your customers’ journey from the moment they become aware of your product to when they purchase a product.

The sales funnel helps you to improve customer retention, cross-selling, subscription-based sales.

If you have an e-commerce store, then you should have a reliable sales funnel to analyze which areas of your business are driving sales and which areas need to be improved or optimized.

For instance, if your conversion funnel shows that most of your audience uses social media to know about your store’s promotions or discounts, with this information you can work towards boosting your presence on social media platforms, increasing your followers, etc.

 

How is it helpful? 

To best understand how a sales funnel works, a visual diagram, with smart insights, comes in handy.

For example, suppose that fifty percent of the website visitors view your product page but only twenty percent add a product to their cart, and only five percent complete the purchase.

Such a difference in conversion rates might imply that you need to improve your landing pages with a compelling call to action that encourages users to buy your product, or you may have to simplify the checkout process, or there is a need to boost the speed of transactions to help you optimize your conversion rates for maximizing sales.

 

Setting a sales funnel for e-commerce business 

There are some basic steps to creating an effective sales funnel for any business type or audience.

You can create sales funnel by using the four key steps we will discuss below.

Your consumer starts to move through each stage right from the moment they learn about your product to the moment they make a purchase.

 

The awareness stage 

The awareness stage is at the top of the sales funnel and represents your initial exchange with potential customers. This is where people become aware of your e-commerce business, products, and services and learn about the benefits and solutions you offer to them.

The information you deliver to your potential users is important at this stage because it is going to have an impression.

This is the stage you educate your audience about the benefits of your products and services.

Remember, the goal at this stage is to inform and not sell.

 

The interest stage 

In this stage, you need to create a compelling copy or content to draw your customer’s interest.

Not everyone who learns about your eCommerce business would be interested in learning more about it. Do you agree?

Each customer’s journey is different, and they are more likely to have different motives when they navigate through your site.

If your prospects are interested, they will try to contact your brand by subscribing to your email newsletters, following your business on social media, etc.

You could leave your social media links on your website making it easy for people to follow you.

For improving the conversion in this stage, you may facilitate your customer’s move by providing fast navigation between pages, easy to search inventory, and making it easy to explore your products and services.

Like the previous stage, this one is also not where you pitch your actual product.

However, here you can offer something like a discount just for visiting a landing page or use a pop-up offer that collects email addresses in exchange for something valuable to your potential audience.

 

The decision stage 

Once customers become aware of your products and have multiple engagements, they will be able to decide whether to buy from your store or not.

At this stage, your goal is to convince them to go with your product.

For this, you can highlight your existing customer reviews and case studies.

Having a good online reputation, testimonials can encourage your customers to decide on buying from you.

To further make it easy for them, you can offer free shipping, and easy return policy, discounts, etc.

 

The action stage 

This is the final stage in a customer’s buying journey. This is where customers complete their transactions by making a purchase.

Facilitating a clear checkout process is essential as a complicated buying process can stop them from making the purchase.

 

Concluding thoughts 

Although you cannot guarantee that visitors purchase from your store on their first visit, you can increase the chance of converting them if you devise an effective eCommerce sales funnel that depicts your customers buying journey.

To attain a successful result from each stage of your sales funnel you must incorporate the best strategies to facilitate your ideal prospects’ progress in the funnel.

I hope you find this article insightful.

 

Read also: Basics of Gold Mining and its Economic Importance

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