26 Jul How to Plug the Leaks in Your Conversion Funnel
Your conversion funnel is a lot like an oil pipeline. You rely on it to carry your leads to a predetermined conclusion. If it isn’t accomplishing that goal, then you have to patch the leak.
However, much like an oil pipeline, it won’t do you any good to patch the funnel a mile away from the actual leak. You’re still losing leads in the meantime, and you’ve wasted effort on a fix that didn’t do the job.
If your conversion funnel is decidedly leaky, here’s what you need to know to plug the leaks and make sure that more of your leads make it to the coveted conversion stage.
Know How to Spot Leaks
First, you have to know how to spot leaks in your funnel. Remember, it doesn’t do you any good to patch something if you’re not patching the main problem.
The best way to go about this is to first determine if you have a leak in the first place. Fortunately, if you’re already using marketing automation tools like a CRM, you’re already collecting data that can help you reach the right conclusions.
Look for lead sources that aren’t producing customers, a sales rep that’s having trouble, or a particular stage of the process where your lead pool seems to shrink out of the blue.
If nothing else, check your rate of leads to closed deals. If the rate of closed deals is unusually low for the number of leads, you’ve got yourself a leaky funnel.
Determine Why You’re Losing Leads
From there, you have to determine why you’re losing leads. This is closely related to where you’re losing them, as the final action a lead takes before you lose them is indicative of why they’re leaving.
Again, you’ll need to refer to your data.
Some dropoffs are obvious, like signing up for the newsletter and not following through, but some are subtle, like leaving after visiting a certain page.
Your goal is to pinpoint where you’re bleeding leads. If leads are leaving after visiting a certain page, for example, they may be spotting something on that page that’s spooking them.
The dropoff point is indicative of any number of problems, including:
- Conversion killers (i.e. interruptions, web forms, popups, etc.)
- UX problems (i.e. slow loading times, poor optimization, etc.)
- Weak CTAs
- Poor customer retention
- Low email engagement
- Inactivity after conversion
Note that each of these problems occurs at a different stage in the funnel, which means you have to address the issue at the right stage if you want to see real results.
Attract the Right Buyers
If you’re losing buyers early on, it may be because you’re attracting the wrong buyers.
It doesn’t matter how good your marketing materials are–if you’re attracting the wrong customers at the outset, they’re never going to convert. They don’t want the features that you’re offering, and you aren’t offering a solution that matches their needs.
Start by tracing who your target audience and spend some time with your advertising data to determine if you’re actually reaching them. Check all of your content–your videos, your emails, your landing pages.
All of this content should be geared toward the same ideal customer, and it should all be targeted toward ensuring that the customer converts.
Clarify Your Message
If you’re attracting the wrong target audience, part of the problem may be a lack of clarity in your marketing messaging.
You might get leads at the outset when they think that your messaging means one thing. But you’ll lose them as soon as they realize that the messaging was misleading and you can’t actually offer the solution that they’re looking for.
Fortunately, this goes hand-in-hand with reviewing your content to ensure that you’re attracting the right target audience. Spend some quality time with your marketing team reviewing your target customer and marketing strategy and ensure that every single piece of content aligns with your goals.
Smooth Out Your Process
If you’re getting leads to the middle stage and they’re not making it through to the purchase stage, it may be because your process involves too many interruptions for them to continue.
If this is the case, you need to smooth out your process.
For most customers, this means minimizing the number of steps required to get from Point A to Point Z. You do need to lead the customer through their buyer journey to ensure that they convert, but this should be a constant forward motion rather than stopping and starting.
If your customers keep getting interrupted, they’re going to lose patience.
Check your steps and make sure that customers aren’t dropping off when they encounter these steps. Forms and popups are major culprits here. You should be able to get your lead to follow through on the desired result with as little effort as possible.
Make Sure Your Handoff is Working
Inevitably, your leads will trade hands between teams. This is normal. Each team has their own specialty and their own area of focus.
However, if you’re fumbling the handoff, you’re going to lose those customers.
The best way to approach this is to ensure that every team knows their role in your marketing funnel and understands how to seamlessly transition leads. Your teams should know that the handoff is happening, but customers shouldn’t know.
If you need to, walk through the entire process from start to finish with each team. The whole process should feel like a professional ballet.
Ready to Refine Your Conversion Funnel?
Your conversion funnel should be bringing in conversions. If it isn’t, it’s time to rethink how your funnel works and how you can make it stronger.
Good content is the cornerstone of any successful conversion funnel, which is why we produce expert videos tailored to meet your company’s needs, wherever you are in your marketing stages. Because finding great content shouldn’t be a treasure hunt.
If you’re ready to talk about how we can make your funnel better than ever, don’t hesitate to get in touch.