Marketing services do not exist to create direct sales, but to generate leads, which may or may not turn into sales.
Turning leads into sales is one of the more challenging aspects of marketing for any business, and in order to succeed it is important to understand the process by which customers engage with a business, and eventually decide whether or not to purchase from them.
What is the marketing funnel? The marketing funnel is used to describe the process by which leads are converted into sales.
Using the analogy of a funnel, leads are piled into the top of it, and a smaller number filter through as sales.
There is a process that potential customers go through as they filter down the funnel towards becoming paying customers.
Most marketing services understand this process, and use it to help improve conversion rates.
How are leads converted into sales? There is a logical progression from the top of the funnel through the other end, and it begins with customer engagement with your product or business.
The three main elements which have to be in place for leads to turn into customers are knowing, liking and trusting you, or your business.
The theory behind the marketing funnel approach is that once a customer who has a need gets to know, like and trust you, they are more likely to buy from you than if they have no engagement with your business.
What are the benefits to using this approach? This may seem like a lengthy approach to take, but there are a number of benefits to engaging with your potential customers rather than merely trying to sell to them.
Once you have converted a lead using this approach, it is more likely they will be feel a strong sense of loyalty to your business or brand, which in turn makes them more likely to refer others.
Word of mouth is still one of the strongest marketing tools in existence, and building an army of loyal advocates for your business or brand can have a significant effect on the growth of your business.
The marketing funnel approach works best if you develop a number of touch points so that you keep in contact with prospective customers at each stage of the process.
Examples of this can include e-books, surveys and free trials.
Keeping your customers engaged every step of the way can help turn leads into sales, and allow you to get the most out of your marketing services.