Traditional marketing funnel was working tremendously well, but that is not the case anymore. These outdated techniques are not giving desired results on the number of sales. Why are these marketing methods no longer giving results? It is simply because these strategies do not provide for measuring of the overall effectiveness of a campaign hence basing your marketing strategies on guesswork. It is difficult to measure your return on investment through traditional marketing campaigns thus wasting your marketing budget is a possible likelihood. With the current rise of digital marketing in Singapore, you cannot afford to miss the opportunity to join the trending shift in the marketplace. More Singaporeans are doing business on the internet, and you need to compete to convert these online users to potential customers effectively. This article goes through ways on how to get more leads via digital marketing in Singapore.
The Old Marketing Funnels
The infamous four-step marketing concept AIDA has changed over time. The old marketing funnel that was based on this formula can no longer work in the current digital marketing arena. This old marketing sales funnel consisted of four stages including awareness, interest, desire, and action. The marketing funnel has gradually improved incorporating new marketing techniques with the shift in the marketplace. Marketing experts and consultants have consistently changed the marketing and advertising concept accordingly resulting in the dawn of online marketing. Digital marketing enables you not only to have better communications with your customers but also gives them an amazing sales experience. More so, internet marketing gives you multiple platforms to find more customers rather than the single method provided by the old marketing funnel. Do not depend on the old method anymore as the modern customer has a different sales journey than the one that was there some two decades ago.
The Modern Online Buyers’ Journey
Today’s client journey goes through a different path otherwise referred to as digital marketing funnel. The steps of modern online buyer’s journey include awareness, consideration, purchase and post-purchase experience. These steps provide more touch points that give many different possibilities. This is far much better than the traditional marketing funnel.
What Is Meant by A Digital Marketing Funnel?
The digital marketing funnel is a combination of techniques and tactics to promote the growth of a business. It helps you achieve more targeted exposure, get quality and easily convertible leads and nurture your customers. Digital marketing has provided multiple choices for online users regarding purchasing goods and services. Prospective customers are now able to research and compare competing products from the internet easily hence making more informed decisions. Today, many Singapore business brands are adapting to the market changes in keeping up with the customer demands and expectations as they can directly engage with their customers. The other factor that resulted in the rise of digital marketing funnel is the increased competition. Businesses have to find innovative ways to attract their target audience. More so, the funnel is suitable for all business types and sizes. An effective digital marketing funnel will enable you to analyse your customer’s purchases and retention journey.
Why Does Your Business Need A Digital Marketing Funnel?
The internet popularity is fast growing. The benefits of using digital marketing funnel are endless to businesses who want to get more leads and reach out to a bigger audience. One of the reasons why your business needs a digital marketing funnel is to provide your audience with the right information at the right time. Giving them what they want promotes more engagement and lead conversions. Additionally, digital marketing funnel enables you to deliver appealing customized content that improves customer experience and knowledge about the business. You need to motivate your target audience for the transition from one stage of sales funnels to the next. Digital marketing funnel shows you the customers level and the way you will make them move a level up.
How does a digital marketing funnel work?
The functionality of digital marketing funnel is simple with the right amount of effort. The funnel will help you achieve a lot for your business objectives. The components of digital marketing funnel include traffic, value, opt-in, testing and engagement. It is crucial that you understand the process behind how digital marketing funnel works. You want to achieve a specific business objective or goal such as higher sales, signing contracts and anything else that will bring you more business? You will find your traffic from relevant internet platforms once you have your digital marketing funnel ready. The traffic will travel through your leads and convert to actual customers at the bottom of the funnel. The customers can also share your business brand to other people.
6 Stages of A Profitable Digital Marketing Funnel
You need to fully understand the stages that your customers go through to create a profitable digital marketing funnel. The stages will enable your business to attract, retain customers and make the most of them via the web.
Stage 1: Exposure
Any business with aspirations of growing further should first prioritize building brand awareness. This is the first significant and essential step towards achieving a successful digital marketing funnel. Today, digitalization has made it easier for you to improve your brand image, especially in Singapore. Majority of Singaporeans are increasingly finding products and services on the internet and making online purchases. This shows that a good number of your target audience are found on the internet platforms. Brand awareness boost how often people share your website content and have longer effects than advertising. To get maximum exposure, you should first boost your targeted keywords on Google ranking and other major search engines. More so, make sure that your content is valuable to your audience and plays a part in building a responsive and loyal community. You should also incorporate digital advertising using the right channels. However, for any of these methods to work, ensure that you monitor their progress.
Stage 2: Discovery
Once you have created enough exposure for brand awareness, you need to ensure that the online users who visit your site can discover your products and services. You cannot afford to lose them before they click on the buy button. This is why you need to have a sticky website offering the right content. A well-designed webpage enables your customers to see the various types and services that you offer and get the best customer journey experience. To achieve more leads, provide quality informative content that shows them their problems and the solutions your products and services offer. You should also provide product discounts before they leave your site. You can also up-sell similar products to the customers while checking out and have an exit popup for inviting your website visitors to your email list. Your target is to maintain future contact with the customer by getting their contact information if not a sale.
Stage 3: Consideration
Offering excellent customer experience on the discovery stage will convince the customers to move to the consideration stage. Many of the customers will even tell other potential customers of you offer even before they purchase. You need to know that people on the consideration stage are very close to making a purchase. It is hence vital for you to handle them with extreme care and address all their queries. You should try as much to know your target audience and keep their needs on top of the list as it helps build a smooth funnel. This way, you will address their concerns before they ask their questions. Incorporating genuine customers reviews and testimonials on an FAQ page on your site may help to clear many of the customer’s objections and questions increasing the leads conversion rates.
Stage 4: Conversion
As a business owner, you should always be aiming to get high conversion rates regardless of your type of products or services. If you do not convert the customers well, it will result in a lower return on investment. At the conversion stage, the person has already set the mind to purchase your product and hence you cannot risk losing them. You, therefore, have to do all you can to ensure the buying process is easy, smooth and painless. As a beginner in designing your digital marketing funnel, it takes time to perfect your strategies, and prospect customers will sometimes slip through. You should identify and take care of the points where sales process may have problems to avoid the costs of these potential leaks. You don’t want the prospects to exit your site after being close to making a purchase.
Stage 5: Customer Relationship
Nurturing your customer relationships is critical in taking your business to the next higher level. You need to be focused on providing your customers with the value that they deserve. Otherwise, they are free to purchase from other Singapore competitors which is a move you don’t want to happen. Build on providing top quality customer service and being there for your customers. Make sure that you can answer their questions and give solutions to their problems on time without keeping them waiting. This way, customer service will serve as a differentiating factor that keeps you a step ahead of your competing businesses. For any of your companies to become valuable, you need to value your customers. If you don’t value them, they won’t appreciate you, and that won’t go well with your business.
Stage 6: Retention
Developing a close customer relationship and retaining your customers is not simple as it takes a long time and requires continuous investment. However, it is less costly and easier as compared to obtaining new customers. According to statistics, it is seven times more expensive to acquire new customers than retaining your existing customers. Keeping your customers is determined by the value you deliver to them. This will make them stay or walk out of your business site. Its is keynote that the higher the customer retention, the more the repeat sales.
3 Digital Marketing Funnels Types to Employ Today
Digital marketing funnel has interdependent stages which is one of its main advantages. As you work to improve on one stage, the positive influenced will be transferred to other stages leading to the growth of the business as a whole. Three common types of digital marketing funnel can help your business grow;
Conversion funnel involves a simple campaign that has three steps, with each step guiding your prospect’s customers to your desired action. Each of the three steps is specific yet important in achieving high conversion rates. You should understand your business status today and determine the conversion stage that will work best. The first step is known as an acquisition. It aims at gathering leads by tapping into the relevant audience for your company. The next step referred as activation aims to activate buyers and achieve a higher rate of lead conversions. After prospects convert to customers, the monetization funnel aims at carrying out sales transactions. Setting up your funnel in Google Analytics helps to analyse your conversion progress.
Sales funnel are essential for businesses that want to achieve their sales goals. You want to guide your site visitors through a purchase path that will eventually lead to sales transactions. Some marketing tactics can be applied to make the sales funnel workable. You can give a valuable freebie such as eBooks, tool or white paper to online users in exchange for their emails. Direct them to the thank you page after they have signed up which has a discount on a product that they may be interested in or offering a premium freebie version. In case they choose to go for your offer, take them back to the main sales page that consists of the high-end products. You can follow up the prospect’s customers through the contact information they gave.
Social media platforms have gained popularity in online marketing. Large and small companies are getting into social media to try and engage their target audience. Facebook ads provide one of the best social media proper sales funnel. For the Facebook ads funnel to be successful, ensure that you engage it and click on it for it to be share-worthy and click-worthy. This will enable more people to share the content. Perform an A/B test and develop perfect landing pages for increased engagement rates. More so, carry out some customer research to discover what you need to do to have more conversions. Taking care of these small details that most of your competitors ignore will make your Facebook sales funnel more profitable.
You need to build a profitable digital marketing funnel to get more leads for your Singapore business. The above-explained steps will give you an easy way to design an effective sales funnel. You need to update your online strategies to keep up with your customer preferences. Getting more lead conversions will require continues monitoring and optimisation. There are many digital marketing agencies in Singapore for you to consult with a team of experts to support your marketing strategies, leads generation and higher profits.