E-commerce Sales Funnel Strategies: Benefits, Engagement & Conversions
A sales funnel depicts the path that prospective consumers take from being a visitor to a buyer. An e-commerce sales funnel comprises many stages, often referred to as the top, middle, and bottom, but these steps may change based on the retailer’s sales strategy.
Let’s look at what it takes to develop a conversion-driven ecommerce website to build your dream online store.
Developing an e-commerce sales funnel for your online store lets you see the buyer’s journey and choose what actions you should take at each step.
Stages of an E-commerce Sales Funnel
In this portion, you’ll find a list of methods you can use to keep your customers satisfied and happy without needing to compromise on lead generation.
- Action / Decision
E-commerce Sales Funnel Strategies
Upsell and Cross-sell
For e-commerce businesses, a well-designed checkout page with various payment methods and compelling call-to-action is a necessity.
However, there is always something more you can do to encourage visitors throughout the checkout process.
Use the power of Upselling and Cross-selling
Either they will choose multiple products or one. They’ll go to the confirmation page. Why not nudge them into buying complimentary products during the checkout page. Show products related to their interest. Chances are they may end up purchasing multiple products instead of one.
Content can take many forms. You can impart useful information in the form of blogs and e-books. You can also get creative and share bits and pieces of information on your social media. Social media platforms are a great way to expose your business to new potential prospects.
Instagram and Facebook are excellent platforms to leverage. Creating authoritative content centered around your industry helps you position yourself as a thought leader. Make the content educational, informative, and with a problem-solving approach, and you’ll gain more following, ultimately resulting in more conversions. And to plan your strategy better for greater conversions, you can leverage competitor analysis solutions. These would help you take advantage of tried and tested strategies of your competitors.
Generate Organic and Paid Traffic
You can generate traffic using both paid and unpaid methods. Social media is a great tool to promote your e-commerce website.
There are both paid and organic ways you can make use of:
- Social media posts, Instagram, Facebook page, Pinterest
- Google organic search
- Engagement with customers via DMs / Messengers
- Facebook Ads, Google Ads
- Influencer marketing
Email Marketing Strategy
At the consideration stage, prospects are eager to learn more about your products. Use email marketing for advertising your products subtly and without being too salesy. Additionally, emails assist you in learning about your subscribers’ interests, allowing you to segment your email list more effectively and deliver highly targeted marketing.
You may send out persuasive product emails periodically to convert prospects who are contemplating purchasing from you. Alternatively, add them to your existing newsletter and grow that list!
Emails, when used effectively, can be a powerful source for customer retention.
Referral Marketing Strategy
Customers that have a good e-commerce experience are more inclined to tell their friends and relatives about it. It’s precisely for this reason why referral marketing is so effective.
Create a referral program and market it.
Customers should be informed about your referral program through social media campaigns, emails, website banners, and videos. Marketing teams must develop a sales and marketing strategy to assist consumers through the referral process.
Enhances your conversion rate
Converting more leads requires an understanding of your prospects’ path to finally making a purchase.
A sales funnel may aid in determining the following:
- The number of individuals who buy your products.
- Rate of shopping cart abandonment.
Assume you have 5000 visitors who purchase from your store. In such a scenario, you would account for a total conversion rate of 6%. (which is a fairly good number).
Establishes trust with prospects
A sales funnel with numerous points of contact over a specified period is essential for conversions. The goal is to provide material with them consistently that educates and builds a connection with them over time until they are ready to make a purchase. Individuals make purchases from businesses they trust.
Optimizes your marketing efforts
A sales funnel assists you in staying focused on the activities that should occur to acquire leads and convert them to sales. It’s not always about making marketing simpler; it’s about making it more effective.
Attracts new prospects
A sales funnel that has the right content will always generate new leads for your company.
Your content should be beneficial to your target audience and address a query or issue they are experiencing. This may take the form of a downloadable guide, an online quiz, an e-book, a worksheet, etc.
The point is that you collect everyone’s email address while providing the information they want. Thus, these prospects are now in your funnel, ready for nurturing and connection building.
It gives you an upper hand over noobs.
Having no direction is a frequent issue among entrepreneurs. They may have excellent ideas but fail to implement them due to a lack of sales processes. Understanding the sales funnel gives you an edge over other companies in your industry.
The conversion stage aims to align marketing and sales goals, which will eventually help you generate quality leads and turn them into customers. This method works exceptionally well because once a client converts, they are likely to promote your products or services to others. Consider them to be advocates for your online store.
Optimization Tactics for Your E-commerce Sales Funnel:
Be Reasonably Priced
If you are selling brand-name goods available in many other stores, you will need to price your products at or below the average price to compete. Adjust your pricing often to determine what sells.
Optimize Your Product Pages
You must convince visitors that your products are the best option and encourage them to add them to their cart.
At this point, you should match your product page content with frequently asked questions from consumers and eliminate any uncertainties.
Begin by doing keyword research to ascertain what your ideal client is seeking. Then, throughout your content, use those insights and present your products as a solution to those problems. By effectively optimizing your pages you can develop a conversion-driven ecommerce website to build your online dream store.
Offer Free-Shipping at Checkout
A checkout page should be uncluttered. It should have a variety of payment methods and a visible call-to-action.
Additionally, offering additional incentives like free delivery and mentioned money-back guarantees may be a deciding factor for many consumers.
Use Exit-Intent Pop-ups
There are far too many abandoned shopping carts. Fortunately, there are many ways to reduce that figure. Creating a popup notification when a customer is ready to leave the cart is a wise move.
Exit-intent popups occur when a user moves their pointer to the exit button or new tab. These pop-ups are designed to entice users to buy by providing last-minute discounts and other benefits, thus increasing your sales velocity.
Establish a Loyalty Program
The last stage is a never-ending one — retaining your consumers’ loyalty. It is a continuous process that assists you in developing long-lasting connections. Here, you may create a unique loyalty program with discounts and special incentives for customers that buy from you many times.
You must advertise your loyalty program so that consumers understand what they stand to gain by being loyal to you.
Each client journey is unique—some conversion funnels are very brief and result in a quick transaction, while others need weeks or months of patient nurturing along the way. By designing marketing tactics around your sales funnel, you can build a smooth experience that converts your prospective client into an existing customer and a recurring customer