Let’s say, for example, that you’re trying to sell someone a coaching program that costs $1000. A lead comes to your blog, likes a post, and signs up for your mailing list. If your first email is a sales pitch for your coaching program, how many people will buy it? A small percentage, to be sure, especially if your blog posts are directly related to coaching program. However, by adding a few more steps, you can more easily encourage a sale. Your sales funnel might instead look like this:
On the lower end of the pricing spectrum, you'll find products such as Infusionsoft, which costs $299 per month for five users, 5,000 contacts, and unlimited emails per month. The Complete package also includes Infusionsoft's four core feature sets (CRM, e-commerce, marketing automation, and sales automation) at no extra charge. SendinBlue and Zoho Campaigns both offer free plans for anyone who is unwilling to spend even a dime for marketing workflows. Both tools scale upward for added capacity and complexity, and each offers pay-as-you-go plans for companies just dipping their toes into email marketing and marketing automation.
Once the prospect is in the proverbial funnel, you've peaked their awareness. That's the first stage of the funnel. However, getting a prospect aware of you is no simple feat. Depending upon how they've arrived to your website (organically or through a paid ad), those customers might view your funnel differently and your opt-in rates will vary significantly.
By utilizing SEM, it provides you with a great avenue for getting the word out quickly and effectively. If you have the budget, then marketing on search engines for competitive keywords might be the right fit for you. But be prepared to pony up. Keywords can range anywhere from a few cents to upwards of $50 and more. The quality score for any term is reflective of what you can expect to pay for bidding on that keyword. The lower the competition, the lower the quality score and the lower the price.
Prospects next need time to figure out if making a purchase is the best option. At this point, it often makes sense to back off a bit. In our car salesman example, an important part of the evaluation process is the test drive. Depending on your industry, you may want to give someone a free sample or demo. If you aren’t selling in-person, videos can be extremely effective here. Often, during the evaluation process, prospects need to talk to others about the potential purchase, so this is where building up a loyal fan base comes in handy.
Email Marketing: Email can be an effective way to maintain a connection between your business and its customers. You can purchase email addresses of customers and prospective customers, but the best results usually come from emails collected on your website. You can entice people to give you their emails through a quality free offer, such as a downloadable resource, called a lead magnet. Once you have their email, you can send a newsletter, special offers, and other information your target market would be interested in—as long as you follow laws and regulations around email marketing.
Paid channel marketing is something you’ve probably come across in some form or another. Other names for this topic include Search Engine Marketing (SEM), online advertising, or pay-per-click (PPC) marketing. Very often, marketers use these terms interchangeably to describe the same concept — traffic purchased through online ads. Marketers frequently shy away from this technique because it costs money. This perspective will put you at a significant disadvantage. It’s not uncommon for companies to run PPC campaigns with uncapped budgets. Why? Because you should be generating an ROI anyway. This post walks through the basics of how. Get Started
Cost per mille requires only that the publisher make the advertising available on his or her website and display it to the page visitors in order to receive a commission. Pay per click requires one additional step in the conversion process to generate revenue for the publisher: A visitor must not only be made aware of the advertisement but must also click on the advertisement to visit the advertiser's website.
Monitor changes in leads – optimize your marketing automation to identify when a lead changes score. This means you pay attention to things like budget, the lead’s role in the organization and the need of the lead or their company. If they drop in score, the lead should be passed back to marketing. A good marketing system should automate this process as much as possible.
At the start of this article, I talked about making customers, not finding them, but you can only make customers out of leads. Because your sales funnel only works if you put people in the top, let’s look at some tips to help you find more leads. Not everything will work for every business. Choose the methods that work best for you in terms of your available resources and what works for your audience.
Large enterprises have long found value in the technology, but marketing automation isn’t just for big companies. In fact, Small and Mid-Sized Businesses (SMBs) make up the largest growing segment in the space right now. And thousands of companies even smaller than that are using automation as well. Similarly, companies across all industries are using it. The early adopters were primarily in “business-to-business” (B2B) industries such as high-tech / software, manufacturing, and business services. But increasingly companies across all categories–including “business-to-consumer” (B2C) industries such as healthcare, financial services, media and entertainment, and retail–are adopting the software for its real-time, engagement-oriented approach to maintaining and extending customer relationships throughout the customer lifecycle.