Using these five essential funnels, you can radically improve your business strategy and increase customer acquisition, customer retention, and profitability.
In this webinar, Adrian from Groundhogg explains five essential funnels that are applicable to 99% of businesses that sell products or services online.
No matter what stage your business is at or how skilled you are in web design, coding, or building websites, you'll be able to implement the strategies Adrian shares during this 1-hour presentation.
Some of the funnels he shares take less than 30 minutes to implement but will help you grow your email list or increase customer satisfaction measurably.
Here are the five funnels Adrian walks you through:
- The Footer Optin Funnel
- The Automated Review Request
- The Contact-Us Follow-Up Funnel
- The Lead Onboarding Funnel
- The Customer Onboarding Funnel
Check out the video to see how you can best improve your business strategy using these funnels:
If you'd like to dive even deeper into various types of funnels to further improve your business strategy, keep on reading.
The Customer Acquisition Funnel
The Customer Acquisition funnel is an essential instrument to improve your business strategy as it helps you generate new customers at scale.
Customer acquisition begins with the initial contact with a potential customer and ends with the point of sale.
In between, there are a number of stages that a potential customer goes through before they make a purchase.
By understanding the customer acquisition funnel, you can optimize your marketing and sales efforts to increase conversions in four different steps.
The first stage of the customer acquisition funnel is Awareness.
This is when a potential customer becomes aware of your product or service. They may see an ad, read an article, or be referred by a friend.
At this stage, you want to get in front of as many potential customers as possible and make them aware of your brand.
The second stage is Interest.
By now, the potential customer is interested in your product or service and wants to learn more.
They're aware that they've got a problem and understand they need to fix it.
They may visit your website, read reviews, or request more information from you.
It’s important to keep your potential customers engaged at this stage and provide them with the information they need to make a purchase decision.
You can easily improve your business strategy at this stage by refining your content plan and creating content that turns interested leads into email list subscribers.
The third stage is Consideration.
At this stage, the potential customer is actively considering your product or service and comparing it to other options.
They may request additional information, participate in a free trial, or attend a webinar.
Recommended reading: Your Job Isn't To Get More Subscribers. It Is This ...
It’s important to continue providing value and building trust with potential customers at this stage so they choose your product or service over the competition.
To succeed at this stage, you need to have solid nurturing sequences for your email subscribers and proper tagging in place that lets you track their ascension through the Buyer Journey.
I'm teaching you exactly how to identify subscribers who are ready to buy from you in Supercharge Your Email List.
The fourth stage is Decision.
Here, the potential customer makes a purchase decision and becomes a paying customer.
Congratulations! By understanding the Customer Acquisition funnel, you can optimize your marketing and sales efforts to increase conversions and grow your business.
The Customer-Retention Funnel
The Customer-Retention funnel is a framework that you can use not just to improve your business strategy but to increase customer loyalty and decrease churn.
The funnel has four stages: relationships, engagement, retention, and advocacy.
The relationship stage is all about building a rapport with customers and developing trust.
In the presentation, Adrian shows the example of two onboarding funnels we can implement in less than a day to give our new customers a stellar experience when they start working with us.
The engagement stage is when businesses start to provide value to customers and create a deeper connection.
A real-world example would be to set up an email sequence that creates accountability for course students to work through the materials - e.g. by sending a weekly reminder. That'd be a super easy way to improve your business strategy if you're selling online courses.
The retention stage is when businesses work to keep customers happy and engaged over the long term.
And finally, the advocacy stage is when customers become brand ambassadors and help to promote the business to their friends and family.
By moving customers through each of these stages, businesses can increase customer loyalty and decrease churn, two essential metrics to keep an eye on if you want to seriously improve your business strategy.
What Happens After These Funnels Are Set Up?
I hope the five essential funnels that Adrian shared with you during the presentation sparked some new ideas and gave you the inspiration to improve your business strategy using these scaleable strategies.
Having a strong email marketing system is critical in any of these funnels - that's where Groundhogg or ConvertKit can come in as a platform.
You also need a clever tagging structure to send the right email to the right subscriber at the right time.
Simply sending the same newsletters or sales campaigns to each subscriber doesn't work.
Take this screenshot of one of my campaigns as an example:
Based on whether or not a subscriber has seen a sales page, bought my course, or has never clicked on any link related to the course, they see a different message.
Don't worry if this image looks confusing.
The gist is that you need to segment your subscribers and give them different messages in your emails based on:
- If you're introducing a product for the first time, you need to give more context as to why that product is relevant
- If you know a subscriber has seen a sales page of a product before, you can give less context and hammer home the sales pitch
- If a subscriber already bought your product, don't annoy them by pitching them again. Upsell them instead or foster the relationship.
My Supercharge Your Email List course teaches you how to build a tagging and segmenting system like this.
