Want Better Conversions? Understanding the Growth Funnel

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If you’ve been in marketing for a while, you’ve undoubtedly heard of the premise of “the funnel”. Typically, this refers to prospecting and is a central part of the sale process. It’s a pretty similar premise when it comes to growth hacking, you just need to look at the funnel in a slightly different light.

Everyone wants to grow their business, but not everyone succeeds. If you want to run a successful business, you need to keep your funnel full. So, let’s take a look at what you need to know about the growth funnel and how you can keep it full.

The three main principles of the maintaining a healthy growth funnel are:

  • Finding New Site Visitors
  • Creating Membership Relationships
  • Keeping Your Members Happy

While these principles are fairly simple, they can be a little more difficult to execute, but we’re going to let you give you the inside scoop on how to make this happen.

Understanding How The Growth Funnel Works

First, let’s tackle finding new site visitors. You’ve got to have a solid plan in place to get new people visiting your site every day. Whether you’re using a combination of blogging and social media, or other types of content marketing, this is the part of the funnel you can never slack on. If you don’t have the time to find new site visitors, you should hire someone to keep the steady stream of people entering this funnel. Without bringing in new visitors, your business will plateau, or worse, drop-off.

Next, you need to create relationships that go beyond the casual reader or follower. You need to engage your audience and make them want to be members of your site. Try offering potential customers something of value, whether its paid or free, and allowing new site visitors into your inner circle. It’s a matter of attrition: you’ve got to keep attracting new members from all of the new visitors you’re getting.

Lastly, you want to keep your members happy. This means going the extra mile and doing what it takes to keep them engaged. Free gifts, offers they can’t say no to, and content that provides actual, real value, are the secrets to accomplishing this.

Now that you have the premise down, it’s time to put it all into action. Create a definitive and actionable plan that will keep enough people entering your funnel to keep your site profitable. Put this plan on paper and don’t delay getting started! The quicker you begin filling that growth funnel, the quicker you’ll start to see results.