Funnel Visualization
Conversion is conversion, right? Either you get it from direct sales funnel or from funnel visualization. Buyers are those people who already purchase or get into your product, but it is also important to analyze if any customer is stuck at any stage which results in slow down your sales rate. And these types of person also comes in buyers list or you can say, passive buyer, who are lacking somewhere in decision-making. Already convinced buyers hardly look for the same seller until they are highly satisfied or over satisfied according to their expectation. Here we are going to have a look on already convinced buyers with the help of funnel visualization.
Here we are talking about the “funnel,” the sequence of steps a user takes to convert to a qualified lead or sale. On the Google Analytics end, this funnel translates to a sequence of pages the user goes through to complete a conversion. The user may drop off on any page in the process due to poor experience, a slow site, unexpected costs, or other factors influencing the final decision.
Funnel visualization is typically useful in terms of linear usage flow. Basically, it’s again about step by step process of buyer behaviour.
10 ways to funnel visualization of convinced buyers:
1. Through a specific flow chart of some relevant steps to follow
These are some specific steps where you can identify your customer’s activity. Where they stuck, when they back out etc., This funnel view include all the generic points when & where customers lagged.
2. Model Processes
Eventually, you can measure your whole product from the first-page visit to the point of purchase and further…
In each case the keyword is linearity. With funnel analysis, we try to model processes where users can’t skip through certain steps (those strictly follow one another), and where they can reach their goal on a straightforward path. On an e-commerce website, for instance, this path can be set up easily:
- Landing page
- Browsing through the products
- Visit a specific product
- Add the specific product to the Cart
- Filling out the purchase details
- Confirm the order
- Payment
- Thank you for your purchase
3. A basic funnel analytics model
For a start, I would recommend the most well-known funnel model. Based on Dave McClure’s AARRR model a user goes through 5 steps when using your online product or web page:
1. They land on your website
2. They start using the product
3. They return to the website/product
4. They make a purchase
5. They refer the page to friends
As you can see, That in this model linearity is not 100% (for example, someone can recommend you without making a purchase), but in most cases, this will still be the real order.
4. Pick your funnel analytics tools
It can be literally any software. If you want to go with an easier setup process, you can use smart tools like:
- Google Analytics(eg. by the goal settings, or by enhanced e-commerce settings)
- Mixpanel (they have some built-in functions for that)
- Hotjar (they also have built in funnel metrics)
- KISSmetrics etc.
5. Visualize your funnel
Try to choose the simplest, most easy to understand funnel visualization. This is a real chart of buying processes.
6. Insights – From Sales Funnel
These can be points for insights from funnel
- Visits
- Web site analytics.
- Websites intercepts.
- Social Media channels
- Leads – Email marketing is still one of the most powerful marketing mediums for nurturing leads
- CTA – One CTA may write a review for your product. Since most reputable review sites require user authentication (usually in the form of linking to a social media channel), you can learn not only about their experience but who they are.
- Qualified Leads
- Sales opportunity
- Loyal Customers
All these points will help out in a quick review of buying processes as well as buyers previous transactional history (where they drop the plan for purchase, or where they were already well convinced). So in this case, with the help of insights, one can come to know that what should be next steps while launching a new product.
7. Segmentation
Funnel Segmentation is simply driving traffic from various sources, such as social media, email, pay-per-click, organic searches, and display, to different landing pages. There are certain advantages.
- Matching messages
- Reports and accountability
- Segmentation of traffic, experience, and results
- Testing
In order to optimize the traffic to your funnel, you have to look for the sources that will create maximum conversions at the lowest cost.
For segmentation, there is an option available in GA. By Enabling that option you will be able to create or will be able to see funnel segmentation report. you will not be able to see that but you can select these option for funnel segmentation –
- Apply Advanced Segments.
- See the funnel for multiple segments in the same report.
8. Bottle – neck – Check
In order for your company to get the most out of social media marketing, you’ll have to identify where along the customer conversion funnel (CCF) your customers may be dropping out. Just one bottleneck in the funnel can severely limit your revenues as well as customer return business.
-
Bottlenecks in your CCF can cause the following problems also:
1) Reduces the effectiveness of advertising campaigns
2) Prevents potential customers from fully understanding the benefits of your products
3) Frustrates users and prevents them from being able to purchase an item
4) Keeps customers from returning
5) Discourages users from promoting your products
- Signs of Bottlenecks in your Conversion Funnel
- If there is a market need for the products and services provided by you but no one is coming then -Potential Problem: poor community development on social media.
- People enter your online store and only a few go to cart then – Potential problem: you may not be giving your customers enough information.
-
Those who add items to their basket but no purchase then- Potential problem: there are too many steps to complete which result in purchase confusion.
There could be many more signs of Bottlenecks. Here are some methods to overcome it: google
- Methods of Removing Bottlenecks from your Conversion Funnel through Social Media
- Start your Brand awareness with social media for your online store.
- Your customers’ consideration to purchase is enhanced by the amount of information that you provide on your website.
- Checkout conversion rate – make sure that this process contains few steps.
- Loyalty- those who have purchased from you before, You must Be Following up with them will give you an opportunity to up-sell or cross-sell.
- Customer advocacy
9. Time – delay
Time delay could be a factor in dropout of the customer. In sales funnel visualization of convinced buyers “Time” is also play as an important factor to re-engage already a convinced buyer. But all this is need on-time or proactive action. Delaying in time can cause losing a prospective customer.
10. Retention
Way to Visualizing funnel of the convinced buyer is also included to customers retaining via proper follow-up, previous purchase history, dropout steps etc, This does not include any specific tool but a keen or keep an eye on buyers/convinced buyers.
