The Buyer-Centric Funnel
There are so many online businesses establishing these days. Customers have numerous options to solve their problems. Among all those, to make a customer choose us, we need to understand what they are actually looking for and how we can solve their problems. We shouldn’t hope costumers will do something they are not motivated to do, that becomes complete vendor-centric. So it’s very important to grab the attention of customers, by providing them incontrovertible experience, to bring sales to our online business.
Now here’s this Buyer-Centric Funnel stands out, it’s important to understand:
🔸What’s this Buyer-Centric Funnel?
🔸How can we employ it in growing our sales and marketing?
What is Buyer-Centric Funnel?
It’s a marketing model which considerably revolves around customers and their needs. An effective model which assists our website visitors into paying costumers. The primary goal of this model is ensuring our website visitors proceed from one stage to another until they are ready to purchase.
Thus to achieve this, great attention must be given in designing Buyer-Centric Funnel.
🔸How can we create an effective FUNNEL?
🔸What points to be considered while designing Buyer-Centric Funnel?
Here’s how..
How to Design Buyer-Centric Funnel?
First and foremost thing is knowing our customer’s prospective and their journey, it’s key in developing an effective funnel. We should acknowledge costumer question &concern, and respond aptly.
Let’s familiarize costumers journey.
The Buyer’s Journey: Awareness➡➡Consideration➡➡Purchase
Awareness:
In this stage a website visitor notices the existence of our product and services. Here we should create problem awareness, discuss how people are solving and what benefits people are getting out of this problem. We shouldn’t mention our product and DON’T TRY TO SELL.
Consideration:
It is the stage to present our product information. We should cheer them by presenting free trials/demos. Gaining trust by bringing customer stories, reviews. Staying in touch with them by collecting there email addresses, for which we need to motivate them by offering something value to them, we can introduce a WOW! Which motivates them to explore more. Using triggers is also the best way in leading them to final purchase stage.
Triggers:
The events which push a customer into a purpose and urgency in buying a product are called triggers. We can adopt triggers by identifying or rather creating them to convert visitors into buyers.
Purchase:
We can make sales in this stage.
80% website visitors will be in awareness stage 15% proceed to consideration stage and only 5% will buy our products.
While this is the buyer’s journey we need to keep additional points in mind while designing funnel.
Which are
Buyer’s Personae:
A buyer’s personae describes about our ideal costumers, their real life challenges and how they make decisions.
Familiarizing Buyer Personae
◼What are there key business goals?
◼ How they are describing the pain and what they are looking for?
◼What are there reactions to our product/company?
◼ The steps in their purchasing process and some other relevant characteristics to this purchase.
Mapping buyer’s process to our sites
BUYER: ➡➡Research➡➡Shortlist vendors➡➡Evaluation➡➡ROI & Justification
VENDOR: ➡➡Website➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡➡ Free Trial
Getting inside buyer’s head:
BUYER: What are they thinking as they go through their process?
VENDOR: What is customer reaction as they go through our funnel steps?
Optimizing our steps to fit, Addressing all Decision Criteria, Grabbing customers attention, Ensuring customer satisfaction
All these play a pivotal role in our achievement.
After discovering Buyer-Centric Funnel and it’s designing it’s also important to understand what is “Flip the Funnel” and when should it be applied?
Flip the Funnel
The intention of it is using “Current Customers to Get New Ones”. In our way to make more customers, we likely forget our old customers. Always mind that a good customer service can assist more customers, higher average order values and referrals.
Flipping the funnel majorly refers to spending fewer resources on acquiring new customers and spending more on retaining current customers. Here’s how we can start investing in our customers.
Analyzing data
🔹Average cost of acquisition, retention, cost to acquire a new customer through referral
Rewarding
🔹We can give them badges, customer of the month programs, free upgrades appreciating their efforts.
🔹Praising customers by showing how their work lifted average order values/costumer referrals
Identifying influencers
🔹By treating influential customers well, they can attract new customer
Conclusion:
Customers are key to success, which is why understanding and nurturing them is important. Implementing Buyer-Centric Funnel, Flip the Funnel helps us achieve this.