A sales funnel is a tool that companies use to track and measure the progress of their sales process. It assists businesses in determining where their customers are in the sales process and how likely they are to make a purchase.
A sales funnel has four stages
A sales funnel can also be used to identify areas of the sales process that need to be improved. Before we learn how to build a successful sales funnel, let us understand the need to build one.
The first stage, awareness, occurs when the customer knows the company and its product or service. In this phase, potential customers are aware of your goods or services. Advertising campaigns, social media, SEO, and several other channels can all be used to achieve this.
In the second stage, the customer expresses an interest in the product or service. Potential customers will begin to express interest in your product or service once they know it. This can be done by providing more information about the product or service, offering free trials or samples, or creating interesting content that caters to the audience’s needs.
The third stage, decision, is when the customer decides whether or not to buy the product or service. Potential clients decide whether or not to purchase your products or services. Usually, the client bases their decision on several factors, including cost, perceived value, and necessity or desire.
The fourth and final stage, action, occurs when the customer completes the purchase. Through this phase, the customer purchases products/services from you and becomes a part of your business ecosystem.
A sales funnel is used by successful businesses to track their progress in moving prospects through each stage of the buying process. By understanding the sales funnel, businesses can better invest their resources in the right initiatives to convert more leads into customers.
How to create a successful sales funnel?
Consider operating an eCommerce store that sells apparel. You are aware that your target market comprises men and women between the ages of 25 and 65 and that they often use Facebook. You are in charge of an incredible Facebook ad that directs users to a landing page. You offer a lead magnet on the page in exchange for a prospect’s email address.
Therefore, at this moment, leads are what you have instead of prospects. They are moving through the funnel.
Over the coming weeks, you’ll send out emails to your subscribers with information about the brands, designs, offers, and so on. At the end of your email blitz, you offer each customer a special X% additional discount off their entire first order. That’s it. You will see orders overflowing.
Then you add those exact customers to a brand-new email list. The procedure is redone, but this time the content would be different. Provide them with fashion illustrations and how to create diverse styles. So you are now asking them to come back for more.
Step 1: Understand your audience’s behavior
Your sales funnel will be more successful the more you understand your audience. Not everyone receives your advertising. Customers who will be interested in what you have to offer are your target market.
Track reports and understand user behavior. Also, monitor website activity and comprehend how users engage with your website.
Observe things like What connects them? When do they scroll? How much time do visitors spend on a specific page?
Utilizing all of these data components can help you create better buyer personas and ideal customer profiles (ICP). You can use the telemarketing resource and make introductory calls to learn more about the buyer’s needs.
Step 2: Grab your audience’s attention
If you can convince them to enter it, your sales funnel will be productive. This entails making your content visible to your target audience.
If you’re happy to invest additional money, run a few advertisements on social media platforms. The best place to run your advertising will depend on where your target demographic hangs out. LinkedIn ads can be the best solution for B2B sales.
Step 3: Develop a landing page
Potential clients will follow your advertisement or other content posted someplace. Choose to drive customers through high-quality backlinks. Sending them to a landing page with an alluring offer is the perfect course of action.
Since these clients are still at the bottom of the sales funnel, concentrate on generating leads rather than attempting to clinch the deal. Visitors should be directed to take the following action from a landing page.
Whether watching a how-to video or downloading a free ebook, you need a compelling call to action that is crystal clear about what customers should do.
Step 4: Set up an email drip campaign
You can pitch to your leads by emailing them exciting content. But ensure that you do not overdo this; just do it frequently. Only one or two emails every week are ideal to send.
You can get them ready for sale by first educating your market. What do they intend to learn? What obstacles and resistance do you need to overcome for them to buy?
Create a fantastic offer towards the conclusion of your drip campaign. Your leads will be inspired to act by that specific piece of content.
Step 5: Stay in touch
Don’t forget about your existing customers. Instead, continue conversing with them. Besides thanking them for their purchases and inviting them to join your social media group, give them more discount vouchers to retain them. You can try delivering automatic SMS to customers about fresh offers, additional discounts, new arrivals, and more.
It takes time to build and refine a sales funnel. It takes effort. However, it is the only way to survive in a competitive market. Spend some time creating a sales funnel that reflects your goals and those of your target audience. Develop it over time, modify your strategy for various sales funnel stages, and determine why your efforts aren’t producing the desired results.