If you want to accelerate your business in the digital world, having a quality product isn’t just enough to get buyers that will last you long. The opener in every successful entrepreneur that’s been flourishing in e-commerce is marketing.
One of the core foundations of making yours successful is getting involved with your potential customers until you get them. Whether you’re an aspiring entrepreneur and you’re just starting, you must know the basics of marketing to let your business grow from scratch to a booming pursuit in e-commerce.
Let’s take a step back.
What Is E-commerce?
Electric Commerce or e-commerce is a field where entrepreneurs can sell, buy, or trade products over the Internet. It lets every individual, with or without profession, get to build their own market in the world of the web.
Since then, e-commerce has been emerging in the industry, making the transactions in every purchase or selling of goods convenient. Customers can now find a multitude of products anywhere on the Internet. Freelancers, small businesses, and large corporations can now easily set-up their own brand on the internet without the hassle of having traditional offline retail in physical.
Nowadays, clients can directly search for goods and services through a broad database. They can see market prices, and with one click away, consumers can view rates and purchase the preferred product at the best rates. Entrepreneurs, in their turn, receive advantages from going offline to online. Media have been useful in advertising since then; the web and its search engines enable businesses to promote their own brand without costly marketing campaigns. Even small companies can do that.
Try to think about how selling and purchasing were before the emergence of digital marketing. Traditionally, it was far diverse and hard for both sellers and customers.
E-commerce has made everyone’s shopping and selling experiences different. That’s why having a business yourself might be complex and challenging if you don’t know how you will make a difference in a field with many options and offers. You must know your potential customers and how you can engage them to buy in your brand.
That’s where the Sales Funnel comes in.
A sales funnel, also known as a revenue funnel or marketing funnel, is the step-by-step mechanism that allows business owners to get in through various marketing measures. It includes how automated emails, videos, articles, and landing pages can get your business close to a potential buyer. Not only that, but it is also the process in which you’ll do anything you can to engage your possible buyer in getting a purchase decision in your brand.
There can be a lot of options in the market, as mentioned earlier. That’s why having to know your target market and engaging them with your most excellent deals will make you have to profit from your sales, which is the purpose of selling.
The concept is that brands cast a wide net like a funnel to catch as many leads as possible and then gradually accumulate potential clients by tracking them through their buying decisions, thereby limiting them in each level of the process.
The sales funnel can be summarized into four main categories (read here). These are the following:
In order to serve an in-depth explanation on how the sales funnel works and how it can help you as an entrepreneur, the six stages of sales funnels have been breakdown below:
Stages Of Sales Funnel
In this stage, you are still in the midst of finding customers. Awareness is the top-of-the-funnel marketing tactics, so making your brand pleasing to look at is one of the things you should keep an eye on.
This is where marketing comes as a skill. You should be able to reach numerous people so that they will be aware that your brand exists and that you exist for them.
Furthermore, make your campaign ad engaging to the eyes of your target market. That’s how you can make them aware. This stage is the part where you should gain their trust and attention. Find the niche where your new endeavor can rise.
Speaking of the target market, what is it?
A target market is a population of individuals who have the same interests or preferences your business aims to attract. Usually, your target market is most likely to get purchases from your company.
Having a business doesn’t mean you should serve everyone, take note that you must have a target market (Who are the prospective buyers?) To whom did you make your brand? Is it for the elderly, teenagers, kids, parents, or young adults? Although everyone can buy from your business, you should have a target so that your scope will be for them and you will cater to their desires.
Once there are leads in your business, this is the stage where you will show how your brand works. What are your products? This stage is an opportunity for every brand to build a relationship with the people in your leading database. It includes marketing campaigns through nurturing leads with emails that have content based on your market and brand.
Why should they get you instead of other brands? Make your objectives unique so that they will see the difference in your brand.
Furthermore, you should know and define what your prospect leads want.
At this point, you should be catering to their concerns by answering every question they might have. It is a part where your lead is already evaluating you. However, your potential client might be comparing your prices and other factors to another brand.
That’s why in this stage of the sales funnel, this is the part where you should give offers to them. Okay, they already know you, but some brands might offer to your potential buyer- you should make your brand more appealing to them.
Why should they choose you? Because you’re even better. Take that in mind. Please make the most out of it, give your deals the best among the rest. Then, you’re proceeding to the next stage.
Usually, in the intent stage, your lead has decided to purchase from your brand. However, the deal isn’t closed yet- so they can change it over time. Consumers at this point are making sure that your offer or proposal comprises their needs. It thus includes their capability to pay for their budget or how much they are willing to compensate your product.
Furthermore, you should discuss the terms and agreements on the purchase deal to make the purchase for real. Negotiation is in this stage; probably price objection or plenty of questions may relay in this stage.
Just wait until you make it.
After doing all the work, you’ll get down to this stage whether the lead makes a purchase or not. If they did, congrats! You’ve finally gained a new customer. At this point, you’re in the final pitch. You have successfully closed the deal by making them engaged and assured by your quality service of goods.
Thus, it is the best opportunity to gain more from referrals or your customer’s online review. This is one of the ways to convince more leads from a trustworthy sales process or testimonials.
If you did not close the deal, don’t worry; it’s not the last. You can try again and be supervised by the sales funnel guide in engaging a lot of prospects. Let yourself be more educated until you’ve mastered this concept.
Suppose you have found a new customer in the last stage. Then, the loyalty stage is where you would want to make them want more from your brand. Thus, you have to make sure that you’re still making them in touch with your brand through various emails, special offers, product usage guides, and assistance.
To accomplish this, you should help them if they’re having a problem or they needed your detailed information about the brand. In order to make them your loyal and repeating customers, you should make sure that they love not only your product but also your service to them.
The key behind a successful business isn’t only the satisfied customers, but it all matters when they repeatedly get back on your service. That’s what makes a business grow profoundly. You might be a boss in your brand, but the customers are the ones who will make your endeavor thriving. Gaining a profit might be your purpose, but don’t compromise the fact that serving the customers is the sole purpose of having a business (link: https://multichannelmerchant.com/blog/eight-reasons-to-keep-your-customers-loyal/).
Business is complicated, but it all takes an effort to make it work, no matter how small or huge your company is. The sales funnel is one of the basic concepts you must learn. That’s why we’ve listed it all for you. Start nurturing your leads, and know their demands. That’s what will make your business grow and develop.
E-commerce is vast, and making your brand rise doesn’t happen in an instant. It’s time to step up your game to begin to refine your business based on your customers’ needs.
You’ve got this.