Designing the Buyer Centric Funnel
In these industrial times, all the companies want to bait their customers for a much longer time than just one visit or purchase. This leads to continuous, relentless competition in the markets to bag more and more loyal customers. This is where the use of a Sales Funnel enters the talk. But is it possible to keep your customers devoted to your product without a well-designed, blockage-free funnel? The answer is ‘no’. A sales funnel signifies the path which is taken by a customer from being just an explorer of your product to being a loyal customer for a long time. Through this article, we will go into the depths of a customer’s psychology and get some insights on how to design a “buyer-centric-funnel” (also comprehended by Mr. David Skok in his ‘for entrepreneurs treatise.) Understanding the Funnel
Why is this Funnel a requisite?
The requirement of an effective method for better sales of a company’s product cannot be dismissed, keeping in view the increase in a feud for loyal customers in the market. Also, with the coming up of e-commerce sites, grabbing a customer’s attention will be the predominant field to work upon, for the sellers.
Breakdown of the steps of a Buyer Centric Funnel
- Awareness- This is the key point that should be kept in mind while designing the funnel. Awareness does most of the work when it comes to putting the customer in a phase of scrutiny. To start with, we need to put forward a problem in front of the customer and provide a promising solution for the latter to build up the curiosity. At this stage, we wouldn’t mention our product to the customer.
- Consideration- Here, we need our customer to get so intimate with the product that he/she starts knowing about it like the back of his/her hand. We need to give out demos, free trials, triggers, and customer stories to the customer to build up their trust in our firm because, to sell to a customer, you have to barge into the thought process of a customer.
- Purchase- Now you have to sell the product to your buyer and assure your product stands out from the products of all your competitors.
How to avoid Blockages in the Funnel?
- Get into your buyer’s head- That’s where the whole concept of ‘Understanding the buyer’s psychology’ comes in. We need to ask ourselves questions like “What inspires them to buy our product?”, “How can our product be a solution to their problems?”, “How can we redesign our product to fit their needs?” and work on the answers to these questions.
- Slogans- Through close study, we come to a conclusion that firms with good slogans are doing better off in the market. The slogans and advertisements of these firms draw customers by getting stuck inside their brains.
- Quality Maintenance- The quality of your product and extended benefits to loyal customers also gives your firm a new standing among the competitors. We also need to carefully appraise the field where our product fails to deliver and redesign it with wit.
What is Flip the Funnel?
Flipping the Sales Funnel refers to the process of retaining the loyal customers of the firm to gain new customers. Some firms in the market tend to forget its old customers in search of a bigger reach and new customers which lead to the degradation of the firm’s reputation in the market.
To gain ground, we need to build new customers on top of the old ones which can be done by referrals of the consumers to one another. Referral and reputation go and hand in hand. In fact, referrals are the leading intermediary stage for building a good reputation for the firm. According to a survey, 92% of people trust referrals from people they know.
We also need to adapt to the new rules of the market and focus more on redesigning products according to the wants of our targets for our technique to be successful. Rewarding the everlasting customers will be a plus point to this
The design of a proper sales funnel is the most crucial part for the firm and should be done with patience and sheer determination through proper study and fact consideration, for the firm to leave its mark in this market race.
“The best sales questions have your expertise wrapped into them.”
– Jill Konrath