Want to really grow your business? Screw the normal marketing funnel, turn it upside down
I am tired of hearing people talk about marketing funnels and how it is the end all be all to marketing and growing a business. For those of you who aren't familiar with the standard marketing funnel, its sole focus is to push as many people to a website and then lure them into giving you their information for future bombardment with even more marketing material. In the last couple years I have seen more information on how to shuffle consumers into the marketing funnel like cattle about to be slaughtered than ever before. Just like cattle, more businesses are buying into this BS and it’s the complete wrong way to grow a business for the long term!
Think about what you as a consumer want from a company… You want a quality product or service, honesty, results, and someone to be there if you have questions. In today’s world we are all so busy that it’s hard enough to discern between what is junk information and what is tried and true advice. The current way that most businesses operate is by trying to get more people to their website therefore increasing their number of conversions (using their current conversion rate). However, did you ever stop to think about how to increase your conversion ratio and not put so much focus on the number of people that are going into the funnel?
Turn the funnel upside down! If you look at the current marketing funnel, its largest end is focused on getting new eyeballs on your website – which means that’s where most people put their time and energy. The smallest end of the funnel is where your current clients came from and where the least amount of effort is normally placed. What if you turned the funnel upside down and put a majority of your focus on your current clients? The results are amazing! By focusing most of your efforts on doing the best job possible for your current clients, you turn the funnel upside down and create a vacuum which will suck in all types of new opportunity.
Social media marketing and the internet has created transparency; it is much harder for a crappy business to stick around for a long time since they provide poor products and people can talk about it through reviews and other online outlets. The same transparency holds true for fantastic companies. They get amazing reviews, people tweet, like, pin, post, and share their great experiences about that company. As a result you have now created an entire sales force that will increase your conversion ratio 10 fold and bring you the customers you want.
Businesses need to focus more on their current customers and do the best job possible and it will bring them so much more wealth its amazing. Just like the voice that Ray Kinsella hears in Field of Dreams, “If you build it, they will come” – we all need to focus on our current business and new clients will come.