An ecommerce sales funnel refers to the steps involved in converting a targeted market segment into paying customers. In the initial installment of this series, I reviewed the first three steps of a typical funnel. They are:
In this final installment, I will review the remaining steps — 4 through 6 — that ultimately lead to a community of loyal customers.
A sales funnel refers to the steps involved in converting a targeted market segment into paying customers.
This is a crucial part of the process. For many online stores, cart abandonment can be 50 percent and checkout abandonment 20 percent. That is a lot of money being left in the shopping cart. Many stores don’t know why they lose deals. Here are some of the things you can do to reduce your abandonment rates.
Is a one-time buyer really a customer? It depends on the type of business you are in. But I don’t consider a one-time buyer as a customer. “Real” customers are likely to buy from you more than once if they are happy with your product or service. Certainly, the cost of acquiring a new customer is much higher than retaining a loyal customer. So most businesses aggressively build their repeat-customer-base.
Here are things you can do to promote long-term customers.
The last step in the funnel is converting customers into a community. This possibility exists largely because of social media.
Article Source: http://www.practicalecommerce.com