The last time was about the 2nd level of the sales funnel or customer funnel – interest – how to create it? What content tactics and channels to use? Today we will analyze conversion or sales.
Briefly, the sales funnel concept is the same as the customer funnel and sales funnel, and AIDA model: Attention, 1st level — Interest, 2nd level — Action, 3rd level.
Here I mean that Action = Conversions = Sales at level 3 of the customer funnel.
Purpose: Customer transactions = sales.
Tactics: Product descriptions and unique offers/promotions/discounts.
Finally! All the courtships are over (usually months for large projects) and your visitors are ready to become customers. Depending on the style of your brand (if you suddenly find out that hard selling works well for your audience), than right here you can make the final direct selling.
So in B2B business, for example, in IT, the sales cycle is from 6 to 9 months, with the size of a transaction from ₽2 million in Russia and Europe from €25k.
Another example, an online luxury store where an average purchase is € 500, the decision is made from one day to one month, especially quickly during a period of discounts.
Thus, the decision making period depends heavily on the industry, budget and sometimes even an exchange rate – especially if the purchase is not in the “home” currency. There are various methods to reduce this time, later I’ll tell you.
Level 3 of the customer funnel is the point of transaction (or conversion). At this point we know that the remaining people in the funnel are interested in what we offer; we are just trying to convince them that we are worth it.
Be prepared to impress those people in the last minutes before they buy to finally convince them of the right decision by content:
- Recommendations for related products
- Sometimes clear pricing
- Simplified, clear and reliable sales process.
- Return and delivery process
These types of content are easy to use and include clear descriptions of your products, highlighting their unique value to customers.
You can also include charts or spreadsheets that compare your products with each other or with substitutes from other companies. MLM (multi-level-marketing) companies very much like to use this approach, and it works, they survive by that. In another case would not be such companies.
Next time will be about customer retention.