What is a Sales Funnel?
The first and the very foremost question is what is Sales funnel. Not many marketers are aware with this technique and those who know, most of them have never tried it on their own. Sales funnel is a part for an advanced marketing strategy in order to increase the conversion rate of your marketing campaign. It is a strategically created path by the marketer which the customers follow ultimately to generate a purchase or a lead depending on the objective of a funnel.
A sales funnel generally consists of four major steps:
1. Awareness- Reaching out to the desired customers and getting them familiar with the brands.
2. Interest- Developing interest for your product among the prospects
3. Action- Entice them into buying the product
4. Remarketing and up sale- Visiting them with other offerings or retargeting.
These are the four major steps in a sales funnel that can help you to generate a decent amount of conversions for your affiliate programme.
Here is a detailed procedure for each step:
Awareness- The first step is to increase the awareness for the product that you are selling. A customer is more interested in making a purchase if they are already familiar with the product that is being offered. Therefore the first step is to by creating an advertisement or a website and getting it ranked on search engines in order to increase the visibility of the product and branding.
Interest- The next step is to develop their interest in the product. This can be done by providing them with the information regarding the reliability of the product and the importance and uses.
Action- At this point the customer is quite familiar with the product or the company and therefore it is quite easy for the marketer to entice them into purchasing by offering them heavy discounts and various other offers. At this point the customer has built quite some interest in the product and hence is likely to convert into prospects.
Remarketing and Up sale :Once the sale has been conducted, now you can also offer some other related products as well and the customer is more likely to make a purchase if the next product is quite cheaper than the previous one and is somewhat related to it. This is a great way to make a sale out of nothing and increasing revenue.
This is how sales funnel works and can be used to increase your profits from the Affiliate marketing manifolds.