What is a sales funnel in affiliate marketing?
Are you a small business looking to increase leads and drive more repeatable affiliate marketing sales? If yes, this is the article for you.
Having a strong, strategic sales funnel strategy is a necessary part of running an online business. However, the sales process can become very complex without the proper tools in place. At 360 Integral Marketing, we have specific sales funnel marketing techniques that will enable you to turn leads into customers, ultimately making a sale.
This blog post will be discussing
- What is affiliate marketing?
- What is a sales funnel?
- Why is a sales funnel important?
- What can our company do for you?
What is affiliate marketing?
Affiliate marketing sales is one of the highest trending and easiest ways to make money online. It allows individuals, known as affiliates, to partner with brands and companies to sell and advertise their products and services online. In this revenue-sharing business, individuals earn a specific amount of commission or fee based on the number of sales, leads, clicks and installations
However, without a proper marketing strategy in place, it is difficult to see sales. The most common mistake people make in affiliate marketing is not having a professional business mindset.
Individuals tend to have a “get rich quick” mindset rather than trying to connect with their target audience, and this ultimately leads to failure.
Some challenges that affiliate marketers face:
- Highly competitive environment
- Poor sales results
- Difficulty getting traffic
- Creating valuable content
What is a sales funnel?
The sales funnel (also known as a revenue funnel) refers to the different stages of the sales process that customers go through prior to making their final purchasing decision. These different stages profile how customers move towards purchasing the product, thus generating sales for your business.
Typically, the sales funnel is divided into three stages: the top, middle, and bottom.
The affiliate marketing funnel is specifically designed around a “buyer’s journey”
Why is a sales funnel important?
A sales funnel helps you better understand potential customers. From the moment a potential customer learns about your business’s product and services, they pass through several stages of the sales funnel. Each stage has its own distinct goals and activities used to track leads, and optimize sales and marketing efforts. Having a clear understanding of each stage can help you more effectively manage your marketing activities and turn more prospects into paying customers.
An effective sales funnel:
- Offers greater value to consumers through each stage of the sales process
- Provides the optimal solution to customer concerns
- Maximizes leads
- Helps create a sense of loyalty between your business and its customers
What are the sales funnel stages?
The journey that customers go through before they end up making a purchase will have a major impact on your business strategy. By understanding your sales funnel process, you can improve your lead generation, identify where your business is losing potential customers, and take the proper next steps to correct it.
Stage 1: Awareness
The first and most important stage of the sales funnel is awareness. A business must be able to generate leads and interest through their marketing efforts for customers to become aware of their products and services. This awareness can occur through social media, advertising, or word of mouth.
Stage 2: Interest
After learning about a company, the customer will evaluate their interest level based on whether the company’s products and services meet their needs. Additionally, they will perform an evaluative comparison based on the company’s competitors to ensure they are provided with the best services.
Stage 3: Decision
In this stage, the customer now has knowledge of the company and is ready to make a purchase decision. They will look deeper into pricing and packaging options to determine which best suits their needs. The key is to motivate the customer to purchase. This is done through sales pages, webinars, and phone calls, to prompt the customer into making a purchase.
Stage 4: Action
At the bottom of the funnel is action. This is where a customer decides whether to purchase the product or service based on their sales funnel experience. After a customer’s purchase, customer relationship management (CRM) plays a key role in ensuring your customer leaves satisfied. Thanking customers with a personal note, getting their feedback, and signing them up for loyalty programs will create a sense of brand loyalty and keep them coming back.
How can we help you build an effective marketing sales funnel strategy?
At 360 Integral Sales Funnel Marketing, we have the right sales funnel management strategy to help your business grow and thrive. For the product or service, you are trying to sell, we can help you succeed in your affiliate marketing journey, with the right knowledge, technology, and tools. With well-established sales funnel experts by your side that customers trust, it’s easier for you to make increase your marketing and sales efforts.