Your sales funnel fails because you don’t know your audience’s goals and problems, and you don’t include enough incentives and CTAs to get them to that sale. The problem could also be about nurturing your leads. Learn how to fix your sales funnel below.
If you're reading this, then it's likely that your sales funnel isn't working the way you want it to.
Sales funnels are a critical part of any company and can make or break your business in terms of revenue. You may have a great product or service, but if you don't know how to market it properly, build demand for your offer, and convert your email list or audience to paying customers, then all of the marketing efforts in the world won't help.
So if you want to know the three key reasons why most sales funnels fail when it comes to converting leads into customers, plus action points in having a successful implementation, then keep on reading!
What is a Sales Funnel?
A sales funnel is a process that all customers go through before they make their first purchase. It is the sequence of steps you need to take to convince them, over time, to buy your product or service even if they are not 100% sure about it at first.
There are a few stages of any sales funnel. Here’s what it typically looks like:
To put this in an example:
As you can see, there are many things that can go wrong in this process. From promoting your product to someone who’s not ready to buy to not having a defined process to nurture your leads at all!
This leads me to the first action point you need to take...
Action point 1: Outline your sales funnel.
What does your sales funnel look like? Only by mapping it out first can you then start to identify which key areas are failing you.
So get that done and then I’ll run you through the first problem you could be having with your sales funnel.
Problem 1: You don’t know your audience’s goals and perceived problems
Your sales funnel’s success depends on determining the results and perceived problems that matter most to your ideal audience.
Think about it like this: If you know what your audience wants, you can get your marketers and content writers to highlight your product’s features in a way that resonates with them.
Eventually, you’ll have a business that’s more than a product; you’ll be making your customer’s life better. Funneling customers to a sale is also much easier when the product-problem fit is aligned.
So, there are two main questions you want to think about when trying to understand your audience:
1. What results does your audience want in 3 years? If you’re marketing an app on women’s fitness, they are probably looking to lose weight, get fit or build specific muscle groups.
2. What roadblocks prevent your audience from achieving these goals? Someone who is wanting a specific women’s fitness app may want to target specific muscles to achieve a more feminine look, are after a community of other women or kickstart their fitness journey with guidance, etc.
Once you answer these two questions, you can:
So how do I identify my audience’s goals and perceived problems?
The easiest method is to ask your audience using surveys. The longer way is to make assumptions and test them out.
Let’s see what both of these are.
1. Send surveys to your followers and subscribers
Create an open-ended survey, then share the link with your audience. You can also ask about their gender, income, age, the solutions they currently use (your competitors), their hobbies, etc.
You want to make this as appealing as possible - after all, why would someone spend time out of their day to complete your survey?
One of the best ways to encourage audience participation is by creating engaging surveys with a great user experience.
Here’s a market research template that you can customize at involve.me, along with many others: