The Sales Funnel Explained
As a sales or a marketing professional for a company, there will be a time when you come across the term ‘funnel’ and it is important that you know what it means for you and your business. The sales funnel is essential for businesses and it is a way to monitor the conversion rate from awareness to sale. Today we are looking at the stages of the funnel and some simple ways to improve them.
The first stage of the funnel is where someone hears about your product or service. It could be by word of mouth, from an advert, or through a review. Art his stage they know who you are vaguely but they haven’t yet made any attempt to research you.
This stage of the funnel is also sometimes called Lead, and it is where a customer starts to look for a solution to a problem, whether it be a product or service, and they express some interest in your product or service. At this point you can start marketing to them to get them to make a decision on the product or service.
3. Decision making
Now is the part you need to be on the ball with. When a lead starts to think of making a decision you need to ensure that you market to them so that they want to choose you over everyone else.
The final stage is the conversion where a customer finally makes a decision and takes action with your product or service. They buy your product and this is where you can really start to market other products and services that you provide. You can use a tool like netsuite lead to cash to help with this side of the funnel to keep people interested.
Now we are going to look at some of the methods you can use to lead people through your sales funnel:
- Blogging – creating articles and guides which put into practice your products or services, you can teach people something useful and also give them the motivation to make a sale with you.
- Lead magnets – by offering some real value such as content to your audience you will show them the value of your brand and make them want to investigate
- Webinars – the decision making stage of a sales funnel might just be the most crucial, and webinars and videos can be a great way to target these people and steer their decision in one way or the other, and hopefully it will allow you to gain many more sales.
- Paid traffic – this is a simple way to gain more awareness about who you are and what kind of things you can achieve. It will allow you to show people what sort of brand you are, what you stand for and what your aim is. Make sure that you pay for a good advert on google and this can make all the difference for you as a brand.