E-Commerce Sales Funnels -
Best Practice for Online Retailers
Incorporating sales funnels into your business can streamline your marketing efforts and drive growth by turning more prospects into paying customers
Increased Conversion Rates: Sales funnels guide potential customers through a structured buying process, increasing the likelihood of conversions.
Enhanced Customer Insights: By analysing each stage of the funnel, you gain valuable insights into customer behaviour and preferences, allowing for more targeted marketing efforts.
Improved Customer Experience: A well-designed funnel ensures that customers receive relevant information and offers at each stage, improving their overall experience.
Higher Average Order Value: Upselling and cross-selling opportunities within the funnel can increase the average purchase amount.
Efficient Lead Management: Sales funnels help in segmenting and nurturing leads more effectively, ensuring that no potential customer slips through the cracks.
Automated Processes: Many aspects of sales funnels can be automated, saving time and reducing manual effort.
Clear Metrics for Success: Funnels provide clear metrics at each stage, making it easier to track performance and optimize strategies.
An ecommerce sales funnel is the virtual path that every potential customer takes to become a recurring customer. It’s not just about marketing tactics like social media promotion, email marketing automation, or driving traffic to the website – it’s about making the buying process as easy as possible for your customers. A study by Intuit found that online shoppers are 62% more likely to purchase from a brand with an easy buying process compared to one with a complex or frustrating process.
Generally speaking, an ecommerce sales funnel has five core stages, or conversions - the process of turning site visitors into paying customers. The top of the funnel is referred to as the awareness stage, where site visitors are just becoming aware of your products and services.
People in this phase may not yet know how your products match their needs or goals, so it’s important to give them a great first impression and leave them wanting more information. This can be achieved by a high-quality website, social media presence, and targeted paid advertising.
Once prospects are more familiar with your brand, they move into the interest stage of the funnel. In the interest stage, consumers are researching your product or service in more detail.
This includes examining competitor products and services to see how yours compare. It’s also common for them to consult friends and family for opinions on the product or service. It’s important to not push too hard at this point and chase them away from your business. Providing clear pricing and terms and conditions on your site can help reduce this risk.
If you are able to compel your potential customer into the interest stage, the next step is to drive them to your website with an irresistible offer or persuasion. This could be a free sample, a special discount, or even a giveaway of your product. Keeping your product prices competitive and providing a smooth user experience are other factors that can help you drive people to your online store.
When people reach the third stage of your ecommerce funnel, they’re no longer just interested in a product or service – they are ready to take the plunge and become a regular customer. At this point, it’s a good idea to have an automated follow-up system in place that encourages your customers to share their experiences on social media or with friends and family. This can be accomplished with tools like automated referral programs or simply using social media prompts and social share buttons.
It’s no secret that a high conversion rate is a goal of most businesses, but it can be challenging to get there. If you’re experiencing a low conversion rate, it’s important to identify where the leaks in your funnel are and fix them. By increasing the number of conversions and improving your average order value (AOV), you can start to see a positive return on your investment in your ecommerce sales funnel.
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Hi I’m Katherine Meade and I have more than twenty years’ experience as a marketer, event organiser and business owner, working on some exciting projects over the years including charities, companies, governments and individuals.
I am passionate about helping others to succeed online using the best and most effective tools available and, through sharing this knowledge, my goal is to empower individuals like you to start successful online enterprises and carve out a prosperous future for
themselves and their families.
Katherine Meade
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