What did you notice from the image ?
2,615 people visited the website and only 13 people became paying customer.
Figures like this (called conversion numbers) helps you to optimize each stage of customer interactions in order to make you the most revenue.
Stage 4: Loyalty Stage
Do you still remember the pricing model for Do Little?
They offer monthly and yearly subscriptions.
With a loyalty program, the yearly subscription can be discounted e.g. “pay yearly and get 2 months free”. This can be offered to customers at the point of upgrade to maximize profit.
Note that loyalty program should be design NOT to lose you money, BUT To even make more money, increase cash flow and create loyal customers.
Stage 5: Advocacy Stage
The entire business model of Do Little will come crashing if all they have is a bad product.
No amount of marketing will make a bad product good.
It is very important that:
● The product is good.
● Customer service is excellent
● Customer feedback is appreciated and responded to quickly.
● An overall customer experience is good.
If your product meets the conditions above, customers will likely become brand ambassadors.
In addition, you can incentivize your customers for spreading the word about
DropBox is most famous for this.
Our hypothetical company Do Little Inc., shows how to create a simple market funnel that puts into consideration how your potential customer will end up buying from you.
You too can create a simple funnel for your own business to guarantee revenues.
When you fail to clearly map out the journey you want potential customer to follow, it is very difficult to match marketing efforts to revenue realization.
Make sure you do this before spending a ‘kobo’ on marketing.