Do you know what a “sales funnel” is AND more importantly, why you need one?
• If you’re wanting to gather leads (either warm or cold)
• Educate them about your products/services via email, newsletter, digital ads, webinars, informational content, etc.
• And at the same convert these leads into loyal fans and customers
• Then you need a sales funnel
A funnel metaphor is used because the sales process can be visually compared to the way a funnel is shaped – wide at the top where all potential customer enter and eventually moving down to the bottom where those left become a successful sale. You can read more about the sales funnel process here …
But as social media and the internet become more integral in how customers interact with brands, researchers are finding that customers are moving more towards researching online. This will have a significant impact on any brand’s sales funnel. Why? Harvard Business Review suggest that prospects are now walking themselves through the sales funnel rather than letting you guide them through the process until they are ready to buy. Read more …
But it is still important for any brand to know what the sales funnel process involves and how they can impact it in these changing times. The stages are listed below, and for further information on how to identify the information for each stage see some of our previous posts for more ideas.
The first stage in setting up a sales funnel is to make sure you understand your sales process – how does a customer go from lead status to buyer? Go through your sales process and identify the key sequential steps.
Next, classify your prospects by their status – are they a lead, a return customer, etc.
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