Traditional sales funnels are based on the typical AIDA (Awareness – Interest – Decision – Action) model of buying behavior.
Though the concept of having different funnel steps will remain the same, the levels have to change with the type of business, the buyer journey, or the engagement journey.
What I do within Facebook is different from what I do within YouTube, Uber, and Spotify. The idea of an ideal customer is different across, and businesses will have to construct relevant and goal-oriented funnels. Thus funnel conversion metrics change based on the type of business using it.
Irrespective of your business’s marketing strategies, you can pursue the steps given below to increase your funnel conversion. Besides, you can add further that power up the list.
Create a journey and use these steps in the funnel
Create customer journeys.
“A funnel that doesn’t align with a user journey looks wasted.”
Creating a funnel with logically-not-successive steps will result in conversions that are impotent. I have used this word because the transformation that happens with these steps will deceive you on the funnel performance.
Figuring out the steps involved will be the funnel approach’s starting point. It requires quite a brainstorming and mind-mapping with a few elicitation sessions with other stakeholders to develop a journey you would want your ideal customer to take.
It is useful if you have the data in place, and if otherwise, you have to change the data strategy and make sure that you utilize all the touchpoints of a customer.
Once you have the journey and the data available, you are good to go!
Differentiate users and also journeys to create various funnels
Differentiate users and journeys
“All the users are not alike, so is their behavior.”
Given the size of the audience and the depth of the application, there can be many ways users convert; there can be many definitions for conversion.
E.g. You can buy a shirt by adding to the cart or by directly without adding – many ways.
Purchasing can be a conversion, or adding money to the wallet is – many definitions.
You need to work on different funnel conversions with different possible journeys, create personas of your users, and make a suitable persona-funnel combination.
This way, you can measure the performance of a genre of the audience and avoid the overfitting of a generic funnel to your whole audience.
Retarget the users who are stuck in the intermittent steps
Retarget the stuck ones
“Once ignored are ignored forever.”
The difference between a mediocre business and a customer-centric business focuses on understanding the customers better and providing a seamless journey across.
For different reasons, customers will be stuck in the funnel forever, and it is of prime importance to move them to the next step and the final one eventually. Funnel conversion percentage is the deciding factor, and it is purely based on the users who make it to the last stage of the funnel.
You can segment the stuck users and nudge them with different actions. To make this effective, analyze these segments before poking them. You may find exciting patterns that help your team do the right nudge.
Provide incentives to push the users further the funnel
Incentivize to push
“Extrinsic motivation drives most of us.”
Though all the users will not go forward given there are a few who have chosen the competitor or entered the funnel with no intention of buying/converting, you will still have a significant pie of your audience who wanted to turn in but are still researching.
If you don’t push them to take action, you’re dissipating your traffic and generate very few sales, which is bad for your bottom line.
I spoke about nudging the users with different actions, and this is the critical step that has to be designed meticulously. All the efforts that have been invested so far will go in vain if we do not try to push the users to the next step in the right way.
You can choose a combination of different methods from offers, promotions, exclusive discounts, free content, or retargeting in social media.
Use analytics to understand users and to take personalized action.
“Very often, you might find what is not obvious.”
It is my favorite component, and everything discussed above should make use of analytics for a better performing funnel.
Analytics should not be just limited to metrics at different steps. It should go beyond and see the patterns at these steps so that the right customer will be targeted at the right time and with the right message.
Initially, you may have to rely on push-based engagement to quickly create top-of-mind awareness. Using feedback from customers and insights into their behavior will be a perfect starting point towards pull-based engagement with minimized nudges.
Ensure you have integrated a platform that captures data at all the steps. Preferably something that captures and talks back to the end-user. Upshot.ai can capture data and revert to the users via push, SMS, email, survey, poll, etcetera configured by predefined segments and live rules. Funnel conversion is the core objective of any business, and Upshot.ai helps to provide every detail to the core to achieve business goals.
Also read: What is your user-centric DNA?
About Upshot.ai :
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