What is an e-commerce marketing funnel?
An e-commerce marketing funnel is simply an illustration of the processes that your prospects undergo before they become your customers.
Although marketing often targets a larger portion of your potential market, the truth is that only a portion of your target group gives you access to their contact information. Additionally, only a fraction of the leads that you generate from contacts will be customers.
An ecommerce marketing funnel represents the different stages that prospects undergo before you can refer to them as your clients. Each stage that the prospect goes through represents a filtering process, which explains why it is known as a market funnel.
The stages of an e-commerce marketing funnel
A marketing funnel often involves stages that are often categorized into four: attract, convert, close, and delight.
This stage is achieved through advertisement. When you advertise online, you will attract visitors to your website.
It involves motivating your prospects to the extent that they share their contact details with your marketing team.
This involves the steps that you take to encourage your leads to close a deal and be part of your customers. The process involves discounts, quality services, warranty services, etc.
Once you have won the customers, the steps you take to retain them dominate this stage. Here, you ensure that you achieve customer satisfaction that leads to referrals.
Why does your e-commerce business need a marketing funnel?
A marketing funnel is an important tool for any business that seeks to achieve success. Hence, optimizing your funnel is very important. A business benefits from developing an e-commerce marketing funnel in numerous ways as highlighted below:
A marketing funnel helps create a guide and offers proper direction to the marketing strategies of a business. If you seek to market your products or services without a laid down outline, the results could be limited. By developing an ecommerce marketing funnel, any business can align its resources with its marketing and sales strategies, an approach that will result in higher conversions. A marketing funnel provides the much-needed direction in the marketing process and increases the chances of converting prospects into buyers.
It helps to increase your sales. The main drive behind any e-commerce marketing platform is to ensure that you can increase the number of products or services you sell. By adopting a marketing funnel, you can collect contact information from your potential customers and use them to direct tailored information to them to make sales. If you engage your prospects properly and convince them that your product or service is ideal for them, you will achieve a higher conversion rate. This leads to more sales.
You get to educate your prospects about your product. By drafting a proper marketing funnel, you can generate data related to the traffic on your website and the sales that you make as a result of the traffic. If you feel that the gap between the visitors of your website and the sales you make is too big, you will make interventions geared towards convincing more prospects into closing a sale.
The e-commerce marketing funnel helps you to harmonize the marketing and sales strategies. Although many people think that online marketing campaigns are easy, it is important to note that they also require significant investment. As a result, many business owners adopt a marketing funnel because it helps them ensure that marketing and sales efforts work together to increase sales.
E-commerce marketing funnels should be capable of detecting any failures in marketing and sales strategies. For instance, if your website is recording a heavy traffic but you are making low sales, this could be a sign that your sales strategy could not be working properly. An e-commerce marketing funnel should help your business to analyze the conversion rates that you are getting from the marketing efforts you have put in place. From the analysis, you can then redesign the marketing strategies to achieve higher conversions based on the data collected via the sales funnel.
E-marketing strategies should be designed in a manner that ensures you get leads that can be converted into sales to increase your revenue. In the business world, you won’t find a marketing strategy that will work for every venture. As such, a combination of different marketing strategies is convenient for businesses that want to generate leads that they can use to increase conversions.
When discussing an e-commerce marketing funnel, the names of the stages are likely to differ significantly from one field t another although the idea remains the same. The adoption of an e-commerce marketing funnel can have numerous benefits if you get it right. The sole purpose of any e-commerce sales funnel should be to increase conversions that will lead to increased sales. If the amount of goods or services that you sell increases, your business is likely to post higher profits. To ensure that your e-commerce sales funnel works for you, you will need to focus on the right sales leads and put a long-term strategy in place to nurture leads.