Within eCommerce, marketing is a fundamental aspect of maintaining and growing your business.
In eCommerce marketing, not only do you need to consider your approach in targeting your audiences but also the experience of your customer during the process.
This blog will discuss what an eCommerce market funnel is, the 4 stages and the benefits it can have for your business.
What is an eCommerce Marketing Funnel and its Importance?
An eCommerce marketing funnel is a design layout of the journey your customer takes when they purchase your products. Having one is a core part of eCommerce marketing and is a basic part of establishing an efficient marketing strategy.
The funnel has mainly four stages, with the customer starting from the top and hopefully making their way down. In the beginning stages this involves the customer becoming aware of your brand for example.
Moreover, the end goal as a business you want to create is that customer becoming a regular and repeat buyer of your products. Thus, the eCommerce marketing funnel plots this journey with the purpose of aiming to increase conversions.
Having a marketing funnel is very important for maximising sales. As if you don’t have a clear pipeline and understanding of how your customer decides to buy your product, you won’t know what to change to improve conversion rates. Having a funnel allows you to use the data you collect from your site analytics to better inform how you improve the customer’s buying journey to increase conversions.
In short, the four stages in chronological order are awareness, interest, purchasing and retention.
The 4 Stages of the eCommerce Marketing Funnel: Initial Stages
The first stage in the eCommerce marketing funnel is the awareness stage. This is generally where the customer has taken notice of your brand and is considering browsing either your online store, or your social media. Moreover, the awareness stage is an important part of the funnel and key to effectively capturing the interest of potential customers.
Because you don’t have a second chance to make a first impression you have to set a good image for your brand. Nowadays, people are more weary of the integrity of businesses. As a result, customers are keen to understand whether a business is legitimate and whether they are selling the products they want. For these reasons the first stage of the funnel for businesses should be taken seriously.
As a brand you have to ask yourself certain questions. Does our social media content interest our buyers? Are there ways to generate organic engagement through our content? These are some of many factors to consider, especially for those on social media. Getshop Today provides some great tutorials to help with SEO and making the most of your social media.
Ensuring that the content you post is relevant and intentional can help attract your target audience. In turn, this will help them take notice of your brand and the products you have to offer.
Once customers are now aware of your brand, this is where they enter the interest stage of the funnel. In eCommerce marketing, understanding how to capture and maintain the interest of your customers is key to leading them to buy your products.
A great way to garner interest is by appeal to social proof. You want to let customers know that you are a brand of quality and that you can back that up. One way to do so is to showcase positive reviews of your products. People engage well with reviews such as customer testimonials, as they show a simulation of an experience the customer wants to receive when they buy your product. Even the likes of comments you receive on social media and customer quotes do well for your eCommerce marketing strategies.
The 4 Stages of the eCommerce Marketing Funnel: Latter Stages
The last two stages concern the customer’s final decision to purchase your product, and whether they want to do so again.
At this stage of the funnel, you want to hit home in getting your customer to buy as smoothly as possible. Within the purchase stage you want to try to eliminate any bottlenecks that inhibit customers from getting to the checkout efficiently.
Aim to make sure that the most important aspects of your eCommerce site come through. Your pricing should be affordable yet competitive, you want to convince customers that they should go with you over other brands. Factors such as shipping costs and other external pop-ups can create checkout friction – you want to minimise this. The impact of this cannot be understated. Data from some surveys show that just over 50% of customers cancel their orders as a result of unexpected fees. To prevent this, make sure that all necessary costs are stated clearly on product pages and on your site’s FAQ.
At the end of the sales funnel, once you’ve gotten customers to purchase your product the work is not done yet. The goal is to not merely get customers to buy, but to continue coming back.
Therefore, you need to take up actions that will help in retaining customers. Some ways to do so are to set up loyalty plans. Customers love to feel that they matter to the brands they shop at.
Because of this, it is important to convey this through options such as loyalty schemes, personalised ads and product recommendations. Personalised marketing is a very strong choice among these options.
Email is a great way to communicate with and market to customers. These emails can also be scheduled and don’t have to be time-consuming if you use automation tools. This makes email marketing a solid way to market effectively and increase conversions.
It is crucial that you understand the journey your customer takes in order to create a profitable marketing funnel. Knowing your target customers interests and desires and how to capture them is key. Doing so will help to improve brand reputation and awareness, whilst creating ways to convert browsing customers to repeat buyers.
Overall, if you want to increase customer retention, creating a marketing funnel is highly beneficial.