As an online marketer and e-commerce site owner you’ve no doubt come across the term “marketing funnel.” Since it’s a very common term, we thought we’d cover it a little more in depth. At E-Commerce 4 IM, we help high-risk site owners, funnel hackers, and entrepreneurs like yourself process credit card payments online. In the process, we want to offer some insight into the e-commerce world for any new site owners out there, or even more experienced online shop owners who are looking for more information on all sorts of subjects. This is why we’re tackling the term “marketing funnel” this time around.
If you’re looking for a specific marketing funnel solution, check out our article about ClickFunnels. Do you need high-risk credit card processing, chargeback mitigation, or a high-risk merchant account? You can always get in touch with us here or give us a call at 1-800-570-1347. We’re more than happy to talk about the needs of your business.
How do marketing funnels work?
A marketing funnel is the process of converting readers and visitors on your site into paying customers. What you might not know is that it’s based on an old principle going back to the late 19th and early 20th centuries. This principle is what’s called the AIDA-model. AIDA is an acronym for Attraction, Interest, Decision, Action. It describes the emotional buyer’s journey any potential customer goes through – from knowing about a product or service to committing and purchasing that product or service.
Awareness
To make people aware of your products, you need to attract them to your site. This is the very first stage of the funnel. Awareness and attracting customers is obviously critical to getting any customers. This applies whether you run a large corporation or own a small business.
Interest
The next stage is “interest.” This is where you’re creating a “unique value proposition” that will pique the interest of your potential customer. If you’re unable to make them interested and show that you can solve a specific problem they have, why would they buy from you? This is another critical aspect of the lead generation funnel.
Decision
Further down the line, we have the “decision” stage. In this stage, you’ll focus on lead nurturing. This is where you continue to provide useful calls to action that help inform your customers’ decision-making process.
Action
The final stage is “action” – and this is the money maker. This is where you make sure that the customer actually makes a purchase. While this is a relatively straightforward aspect for many e-commerce stores, that’s not the case for all business types.
What’s the difference between a sales funnel and a marketing funnel?
You’ve also probably come across the term “sales funnel,” and you might be wondering what the difference is. In short, there’s barely any difference. You’ll come across very different language, but the processes described, the essential purpose and the end goal are all the same.
Buying and selling habits have changed drastically over the last few decades as technology has improved in leaps and bounds. The result is that marketing and sales, which are still separate departments for most, are becoming more integrated. This is why a sales funnel is very much the same as a marketing funnel.
To sum it up, it’s all about guiding and managing your prospect from one end of the buyer’s journey spectrum to the end goal: purchase.
Make the action stage of the marketing funnel work for your high-risk business
When it comes to selling high-risk products, you’ll need to make sure that your credit card processing services are set up correctly for high-risk processing. This is our area of expertise. We specialize in helping high-risk businesses accept credit card payments online. If you need high-risk credit card processing to help your sales funnel grow, you can always contact us here.