Why Sales Funnel Is More Effective For Customers
Selling products or services is not that easy as some entrepreneurs might want you to see. People are not going to flock to your store right away after simply opening or displaying your products, you need to promote or market your business first before it can gain a bit of attraction.
Marketing and promoting any business is also not easy. Most of the time, it is a trial and error method. There are strategies that work for certain people but may not work for the majority of people. This is because each customer has different perceptions, needs and wants. And to be an effective marketer, you need to at least know what your customer’s thoughts and feelings are.
Since it is impossible for us to read minds, what we can do is to rely on Psychology to come up with effective marketing tactics. This is where Social Psychology should come in for your sales funnel.
If you are unfamiliar with the ‘sales funnel’ technique, this is the strategy where customers are not essentially convinced to buy a product right there and then. Products are not just shoved up right at their face. Instead, the sales funnel technique employs a slow but less annoying strategy to entice customers.
The first step is just to make customers aware of the product, build up interest over time, until they become convinced enough to try the product. It’s more of an information drive rather than “in your face” advertising and marketing.
So why is this more effective for most customers? Let’s use some principles of Psychology to arrive at some answers:
It is less invasive.
We all have stuff to do and errands to run, and your customers have their fair share of busy days too! Blunt promotions will only leave a bad taste for most potential customers. They will most likely ignore or they might even get annoyed with “in your face” promotions especially if they are still on their way to work or school.
With a sales funnel, however, the approach is less invasive. You’re not telling the customer to buy now or notice you now, you will just hang around until they are actually ready to try your product out during their own free time.
But this does not mean that your products should just be kept hidden in the dark. Remember, you have to “hang around” and still be present in their consciousness (although you don’t need to convince them to buy right there and then). So the trick here is to be visible on Social Media, blogs, and websites through informative videos, content, and photos. Make your content relevant, entertaining and valuable. If you can, add a special offer to pique their curiosity even more!
Incentive-Driven
People are more willing to try out new products or services when there is something in it for them. Let’s face it, a person has been using the same brand of cleanser for years, it will be difficult for them to convince trying out your own cleanser right?
That’s why you need to entice them with incentives. It could be in the form of a discount or freebie, and that should be on top of the benefits that your product promises!
This is basically your hook. Remember, you are not trying to be invasive here, but offering an incentive can certainly prompt potential customers to take action and avail of the limited offer. Yes, to make incentives more enticing, you have to make them scarce. So offer them only for a limited period, and customers will certainly be quicker to act! And this leads us to…
Gives people the feeling of being left out.
Psychologists also observe that most people don’t really want to feel that they have missed out on something. When a new iPhone model comes out, notice how some people are so excited to get their hands on it that they even pre-order ahead of the release date. Almost all of us want to stay relevant, or at least belong to a certain trend – and that’s why limited offers usually work!
When you offer an incentive for a limited period, most people will certainly jump on the opportunity due to the fear of missing out. Naturally, it creates a sense of urgency and if they see friends ordering the same product, they would want to participate and try out the product for themselves too!
In sum, the sales funnel technique works well for most customers because it is more informative than pushy, and is more interactive rather than merely transactional (because customers get a deal via incentives). It makes the buying process more personal for the customer, and if they are satisfied with the product, there’s a higher chance of turning them into loyal patrons.
Want to know more about capitalizing on funnels to maximize your earnings? Join our webinar and learn about the most effective strategies we employ to make our business thrive.
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