How Online Financing From ChargeAfter Supports a Profitable Sales Funnel
If you haven’t considered or created a sales funnel yet then it’s high time you do so. In the modern world of eCommerce and digital marketing, a clearly defined sales funnel can help your business save money and attract the right buyers to your website. This can have a significant impact on your sales as you promote the right products to the right consumers willing to purchase from your online shop. In this article, we outline sales funnels in more detail and suggest how online financing from ChargeAfter can support the profitability of your eCommerce site’s sales funnel.
What is a Sales Funnel?
A sales funnel, simply put, is a visualization of the journey that your consumers take from becoming aware of your brand to visiting your web store, signing up to a newsletter, adding products to their carts, purchasing those products, and receiving email confirmation and newsletters after a purchase. While these are a few common steps in a sales funnel, they can vary from one eCommerce store to another and change depending on the types of consumers that are attracted to a specific website or product catalog. A sales funnel intends to provide a comprehensive outline, in the form of a flow diagram generally, of the processes shoppers will experience on your platform. It also allows marketing teams to determine the effectiveness of their user journey and how they can optimize consumer touchpoints along said journey.
How to Create a Profitable Sales Funnel
To create a profitable sales funnel, business owners and their marketing teams need to follow these simple steps to success:
1. Audit the Existing User Journey
You’ve likely had your eCommerce store in business for quite some time but maybe have not yet categorized and defined your sales funnel. Therefore, the best place to start is to audit your existing sales funnel and visualize it. To do this, take stock of every consumer touchpoint and how they filter from one to the next. For example, a consumer sees your ad on social media. They click on the ad and are taken to your website where a pop-up encourages them to sign up for your newsletter. After doing so, they receive an email notification. If they choose not to, they close the pop-up and continue to browse. This creates a split in the sales funnel, effectively generating two sales funnels, or user experiences, depending on their action. You need to visualize every possible sale funnel avenue from awareness to the consumer buying a product and map them out on flow diagrams.
2. Distill the Sales Funnel
Once you have your sales funnels mapped out, you can begin distilling the user experience. Consider the importance of every touchpoint and begin to remove certain consumer touchpoints that create a cumbersome sales funnel. You want the user journey to be as efficient and seamless as possible, with minimal distractions limiting the shopper’s time from browsing to buying. A pop-up is important as it can entice sales through discount offerings and build your email database, however, multiple pop-ups can quickly become distracting. After distillation, your sales funnel should only include the most important and profitable touchpoints.
After some time, you can repeat this simple two-step process until you have developed an optimized sales funnel for your audience.
How Online Financing From ChargeAfter Supports Your Sales Funnel
Online financing from ChargeAfter ensures that consumer checkout is as efficient as possible, supporting your sales funnel and improving your sales rates. With this integration embedded into your online store, consumers can receive zero-interest repayment solutions at the push of a button and shop their favorite products without having to seek financial support elsewhere. This streamlines the online financing process, promoting a quicker time to sales and a more profitable sales funnel.