Explore the stages of a marketing funnel for insurance industry

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marketing funnels are one of the hottest topics in the world of business and marketing right now and for good reason but what exactly is a marketing funnel and more importantly how can you harness the power of this incredible tool in your business to generate more leads and sales hello and welcome my name is Adam Earhart and you're watching a modern marketing show where we take different marketing tactics tools tips and strategies and break them down into bite-sized actionable Clips that you can use to immediately take your business to the next level so what exactly is a marketing funnel well a marketing funnel sometimes called a sales funnel conversion funnel or just plain old funnel is a system that allows you to track the customer journey from having no idea who you are right through to becoming a lifelong loyal customer and every step in between the beauty of the funnel is that it provides a graphical representation of what can often be a hard subject to visualize the fact that a marketing funnel is also often shaped like a funnel helps to as it makes it easy to visualize the process that your customers go through on their journey with your brand and business the way to create your own marketing funnel can be as simple as taking a look at your business and how you acquire customers what are the stages of prospective customer takes and the journey they go through that moves them from having no idea that your business existed to becoming a loyal customer my suggestion is to use something along the lines of the elevation marketing process which goes traffic conversion ascension elevation step one is to identify where your prospective customers let's call them leads are coming from are they finding you through social media a search engine or a paid ad you're running once you've identified your traffic sources you can start to compare and pit them against one another and may the strongest traffic source win as a side note these leads who have never heard about you or your business before are called cold once your lead has arrived at your website storefront or landing page the next step is to get them to make a micro commitment and take some form of action if you're selling a low priced item like a pack of gum then that action could be a sale if you're selling a higher priced item like a car then that micro commitment could be a smaller action like going for a test-drive the point here is that you want to encourage them to take the next logical step in the relationship whether it's exchanging their contact information like their name email or phone number or even agreeing to a follow-up meeting at this stage your lead is now warm all right at this point in the funnel you're gonna be working with fewer leads than you started with but that's okay because those that are still with you are a higher quality lead and are more interested in what you have to offer we've also taken some form of action or micro commitment and are a lot more open to what you have to offer next it's at this stage that you want to begin the follow up process and really bring the value continue to nurture your leads by providing more valuable and helpful information but at the same time don't be afraid to ask for the sale if you've done a good job at guiding them along their journey up until this point the next logical step should be your core offer product or service when you're warmly buys and exchanges their money for your product or service they become hot it's now time to really bring on the value and elevate your relationship with your customers following up with your recent buyers is one of the fastest ways to solidify your position as a business that truly cares buyer's remorse is very real and is alive and well across all markets and industries so the first 24 to 48 hours after making a purchase is a critical time to calm any anxieties and affirm your new customers decision to do business with your company it's also unexpected which makes it even even nicer surprised and part of the system to elevate your customers into brand evangelists who tell their friends family co-workers and sometimes even strangers about just how great your business is the beauty of this funnel is that when you lay everything out stuff gets real real fast there's no hiding a flawed strategy or justifying a bad campaign just as what it is and that's the power of the funnel to quickly and visually illustrate your customers journey in order to eliminate any choke points or areas of friction so you can create a system that allows you to generate leads convert them into customers and then turn those customers in a lifelong and loyal brand evangelists powerful stuff so thanks so much for watching if you enjoyed this episode be sure to subscribe to the channel give it a thumbs up and if you have any questions comments or suggestions for a future video be sure to leave them in the comment section below if you like more content like this then head over to Adam Ericom and sign up for the modern marketing newsletter because this is where I share my best tips tricks and strategies that I don't share anywhere else take care for now I'll catch you next time on modern marketing show [Music]