What is a sales funnel?
If you are a business owner, you might have come across the term “sales funnel”. Do you wonder what it is? A sales funnel is basically a strategy to convert visitors and those interested in your products and services to your customers. The marketing strategy is usually represented by a funnel-shaped diagram, hence the name. The funnel shape represents the maximum people at the top while only a few below which is what happens in a sales process. It is applicable to any business which has a sales process. What it offers is a breathing space for potential customers to try out a few things before they settle for product and services that a business offers. This also gives entrepreneurs and marketers to experiment with different strategies to drive more sales and convert interested candidates to long-term customers.
Laws of Attraction: Creating an engaging online sales funnel
An online sales funnel can be quite a tricky thing. It is not a swift process neither is it unidirectional. But what it offers is a guideline that businesses can follow to meet their end goal which is to generate higher sales. The path of sales generation involves several steps. The following diagram represents the path that a potential lead may follow to the end.
Lead Generation: The first step to creating a sales funnel is to promote your business and offerings. This is done through social media, running advertisements both online and offline, creating engaging blog posts, etc. Brand awareness is the first step to generate potential leads and hopefully take them to the end of the process.
Lead Nurturing (Requirement Gathering/ Consultation): Once the leads start showing interest in your offerings, it is time to approach you. There are different ways to do this like sending introductory emails, directly calling the interested person, offering tips and tricks, offering a few services for them to try for free, etc. This may often take a long time sometimes even months or even years. You have to hold up on your end and make sure that your project your product and services in the best light all through. It is at this stage, you will get a fair understanding of who your potential customers are.
Conversion to potential: Once someone shows further interest in your products and services, you can then start sending out business proposals and finally talk about projects. Only a few of the potential customer will actually go through this process while you will lose the rest. But this is not actually bad but good as you are close to turning in your future customers and making sales.
Project Closure: In this step, only those who are keen on your products and services will agree to move forward with you. You will end up selling them to the customers you have successfully managed to convert.
Retention: Just because you made sales, your work is done when It is but just the beginning. Your work is now to keep your one-time customer keep coming back to you in the future. The best ways to accomplish this is by sending follow-up emails, sending promotional messages and keeping them updated of your latest offerings.
Sales Pipeline: The conclusion
A sales funnel is not an easy thing to create or put into action. As every brand has its own requirements and goals, a sales funnel has to be equipped in a manner that it enables a brand to achieve its end goal. If you are struggling to create sales funnel for your business, a digital marketing company can strategize and create a sales funnel that will help you to reach your desired goals and increase brand visibility.