Understanding A Sales Funnel
Nothing hurts a salesman likes losing a customer who had already enter the sales marketing funnel, and indeed, it pains because sales are the heart of the company.
A prospect that drops out of the funnel without buying hurts after spending your time on them and only to end up into a disappointment of leaving at the very last end without purchasing; that’s so unfortunate.
Yes, often such happen, but now the question is! How do we get it right? So that we don’t get prospects dropping out of the sales funnel anymore. The solution is simply having the "right sales funnel management tips." To have your business perform excellently, you must get the right sales funnel; sales funnel can move your business from the unknown to a known successful business operating in a million dollars in just a short time, and very many businesses have been thriving upon implementing the right sales marketing funnel.
Talking about a sales funnel, it’s more like the standard funnel you know where you pour a huge volume of subsistence, but only a little of that will get to the bottom, and the rest will be poured out or even drops out along the way; this is similar to the sales marketing funnel as well.
Prospects/leads may or may not purchase your product on the very first day of visiting your website. To reach the extent of purchasing your product, you and they must have gone through a process either long or short while building confidence, trustworthiness, demonstrations of the product, several meetings and appointments, and that’s what we call the sales process through which you filter a prospect using a sales funnel. Let us dive in to understand more about a sales funnel.
Sales funnel refers to all the steps a prospect/lead goes through to reach the time of purchasing and becoming a customer. The sales funnel in simple terms could be like having people pass by your stall, then a few of them decide to come through, one of them gets attracted to your of your goods, checks them out, and if he or she likes them makes a final decision of purchasing, and that’s how the sales funnel is, it’s that simple.
Understanding your sales funnel is important because it helps you recognize where your weaknesses are, the stages through which prospects drop out and why they drop out. It can also help you improve the number of people who go up to the sales funnel's last step.
Let us look at the sales funnel stages one by one from the time of awareness to the final decision to take action.
This is the first and foremost of all the four stages; this is a stage where a prospect gets to know about the existence of the services or the products you offer, this could be through; social media adverts, over the radios and TVs, from friends, word of mouth, from SEO, direct emails, online ads, videos, whitepapers and e-books, and newsletters and signups plus other various ways.
Now the prospect will move further depending on why and how you market/sell your product or service and how this specific product is going to be of help to him or her (the value of the product to the customer); at this stage, you should be able to give the prospect some amount of attention since they are starting to show a little bit of interest in your product. Now they are starting to go past the awareness stage. Basically, the awareness stage is all about a prospect learning about your product and going ahead to discover/find out and know more about it, what it is, who does it, and how it can help him or her.
When a prospect has discovered and learned enough about your product, they start evaluating the value of your product in regards to what they want to use it for, and that is when the real questions of how is this product going to help me address my problem set in, is it a reliable solution in regards to my problem! How long will it take to address my concern, on a short term or long term basis? Is this the only solution available now, or can I find out about other alternatives available? If there are other alternatives, how do I compare them with this solution? Mainly prospects research to find out whether your product is the best solution or not, and then they move to the next stage, which is a decision; at this point, you are supposed to provide credible content, show your expertise and blow the prospect's mind off the other products, this will help him to make an informed decision.
Once a prospect has confirmed that your product could be the best solution to their problems, they now start thinking about making a purchase; that is; they start looking for the prices, packaging materials, durability, manufactured date, and the expiry date, the quality, and quantity of the product while comparing with other options he or she has let us say; three more options or four. When your product gets all the above right over the other options, the next step is action.
This is the final stage of the sales funnel where a prospect decides to buy and becomes a customer or whether he does not believe. When a prospect purchases a product, he or she becomes a customer, and the deal is won; when a prospect doesn’t buy, that means the value is lost; however, you can continue contacting him or her, and at one time, this person might become a customer. Your work as a marketer doesn’t stop at a customer purchasing; you have to keep following up so that you turn this person into a loyal customer who will make more and more purchases with you for the rest of their time, be available anytime when they call you and also show some gratitude upon every purchase a person makes.
This is how you can create a sales funnel for your business.
Creating the sales funnel is a simple process; you have to go through a few stages;
1. Build a sounding website and a landing page
There are so many ways prospects learn about a company it could be through ads or any other means; when a prospect sees an ad and clicks on it, usually it takes them to your business landing page; this could be your website where they get to learn more about your product or service, the website clearly shows more about you as a company, what you do, how you do it and how it works to address people’s problems, the benefits you offer as a company when you were established as a company and so much more. Your website should be good enough to impress a prospect and show him or her that your product could probably be the best solution to address his or her concern. It is also quite good enough if you have an email subscription form so that the prospect can leave their details behind, and you use it as an opportunity to follow up and continue to market to them.
2. Give pretty amazing valuable offers to your prospects
Giving something valuable to your prospect shows some interest in him or her, and having them as a customer could influence his/her minds if he had not made up his decision very well. An offer could be like an e-book about your company to read, more explanation about the benefits of using your product, tell them about discounts you can offer upon a heavy purchase and so much more and all you think that could continue to pull their attention towards buying or making a purchase.
3. Start making promotions to the lead/prospect
At this point, you can start contacting your prospect; at least you have their email address details, and most of them by this stage have already developed an interest in the product or service. Once you realize that this person really has an interest, then you can go ahead to send them more information about your product and perhaps how it may be helpful over any other alternatives on the market. You can continue to share with them more about opportunities, education, or any other content that you feel would really be necessary to this prospect.
4. Boost/recommend or persuade a prospect to buy a product and more.
At this stage, you want a prospect to make his final decision towards buying/purchasing a product; you might probably need to offer them free samples for use, demonstrate how a product works, assure them of a well-packaged product and amazing product discounts upon making a heavy purchase.
5. Continue to follow up
At this level, two different expectations are a prospect who turns down the offer and doesn’t buy at all and also a prospect who buys and become a customer; therefore, you Keep following with the new customer (that if the prospect buys the product) by asking them about how they are doing with the product, whether it helped them address their concern or not, basically keep educating them more about a product, how to use it and show them that you are willing to offer him or her more of the product in case that gets done. If you lose on the deal and the prospect doesn’t buy, you can continue to promote the service to them; you never know they may get convinced at a certain point. Remember, Consistency never disappoints.
Finally, sales funnel can be a hero to your business if you embrace it and its management; I recommend startups to look up to this if they want to grow their businesses fast and in a short while.