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However, as much as I loved helping others, I wanted to find a better way of doing so. More freedom, more money, and more flexibility were what I was searching for. I just didn’t know how to find the perfect career that ticked all the boxes. That was, until I discovered that becoming an entrepreneur was indeed the dream occupation - in every conceivable way!
In addition to vocational occupations where I was able to do what I loved most - helping people, I have developed game apps and undertaken a variety of freelancing projects - amongst other things. But none of these jobs gave me the fulfillment I craved. I needed something bigger and better. So, I started a journey of self-education in a variety of different areas and began investing time and money. This enabled me to gain a deep understanding of the science and strategy that underpin marketing funnels, social media marketing, and different types of business models.
At this stage of the funnel, the value of your product is still unknown; customers won’t be engaged by sales material or product specifics. Instead, try to establish value through educational promotions. Here, customer information is gathered as leads are pulled into the first phase of the funnel. It’s interesting to note that 65% of businesses claim that lead generation is their biggest marketing challenge which only emphasizes the need for developing creative marketing strategies.
Simple marketing funnels have fewer, more meaningful interactions. More people make it through to the end of the funnel and a simple funnel is far more geared towards high ticket sales. It’s much easier to buy traffic when using a simple marketing funnel and it works well with high-value media. Simple sales funnels are the fastest path to online lead generation for high-priced products and services.
The interest stage is followed by the stage of consideration where the lead gets converted into a marketing qualified lead. The prospective customer is now considering to buy the product and hence marketer needs to give more attention and communicate to him elaborated information about the product, offers, and discounts. This information is communicated through free trials, basic services (if applicable), targeted emails, newsletters, phone marketing, and other direct interaction strategies
Once the customers’ interest in your company has grown, they might be willing to consider purchasing your products or serivces as well. In order to establish that, you first have to help them realising that your product is meeting a need or desire that they might have. Furthermore, you have to explain that YOUR product is the best option for meeting that need. This stage is therefore all about positioning and showing off your unique selling points (USPs): what extra value do you have to offer to customers compared to competitors? People usually consider only 3-5 different brands before purchasing one, so you want to make sure your brand is among those. Persuasion skills and a good sales team can be very helpful during this stage.
In the loyalty stage, customers start to develop a preference for your brand or company. They do not make repeat purchases anymore because you remind them of it, but because they genuinely like your product. Customer loyalty is therefore far more favorable than repeat purchasing. Loyalty means customers are hanging in there even when there may be some problems or negative rumours about your company. In order to create loyalty, your customers need to see the relationship between you and them as more than just a transactional relationship: connecting with your customers on a personal level is therefore crucial. Strong engagement, personalization, loyalty programs, community development, social identity and the sharing of values can help with that.
A customer is made aware of the product through Marketing and advertising campaigns, consumer research and discovery. The awareness is followed by gathering information in some form from him. This process of gathering information is called lead generation and the information is further used in the lead management system to nurture it down the system.
Mary Wroblewski came of age as a reporter and editor in some of Chicago's scrappiest newsrooms but softened up long enough to write nine children's books as well as one nonfiction tome. She has a master's degree in communications and teaches college-level courses at a Chicago area college. You'll see her work in a wide variety of publications, especially those in the business, education, health care and nutrition genres.
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No one has to tell you, of all people, that customers go through stages as they move through the buying process. As a small-business owner, you've been selling your product or service long before your sales and marketing team started casting decisions in terms of “the marketing funnel.” The marketing funnel? If this term is new to your vernacular, don't worry, you're not far behind the curve – or the tactics to help you navigate it.