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Sales funnel is an idea that systematically influences multiple stages of marketing. When you sell something to your customer, there are various steps involved. If you can handle each step correctly, you will raise the chances of more potential sales.
What Is A Sales Funnel?
A sales funnel involves multiple stages through which you can finally sell something to your customer.
Let me exemplify- suppose you own a bookstore. Lots of people pass by your store daily. They are at the top of the sales funnel.
Someone walks into your store to see the book collection you have got. That’s the next stage of the funnel.
That person might take some time to discover the books you’ve got, which is the next stage. They finally choose some books to buy.
That’s another stage. When they finally purchase the books from you, that’s the bottom of your sales funnel.
A sales funnel applies to retail businesses. It also applies to websites and personal interactions.
Making sales is definitely not easy even on the internet. You will have tons of competitors. However, there are plenty of courses, newsletters, and training programs that can help you learn about affiliate marketing and sales.
One of the recently talked about training programs is the “Inbound closer”. It recently gained hype because it was introduced as one of the best online sales programs.
You can know more about it and see whether it is true or not on this inbound closing article from NoBSIMReviews.
How Does A Sales Funnel Work?
There are four stages in a sales funnel that convert a visitor into a prospect to a lead and finally a buyer. Let me explain by turning to the book-store example.
Here’s how the book-store example is a practical sales funnel mode.
Awareness is the stage where the buyers get acquainted with your products. You can reach out to your potential customers through ads, shared posts, etc.
In the example, your shop by the road draws the attention of the people. That is the awareness part of a sales funnel.
In this stage, the customers compare your services with your competitors. What you should do here is enlighten them more about the services you are offering.
Instead of persuading them to buy, teach them about the benefits. Remember, if you push them from the start, you may end up losing them entirely.
When the person (prospect) decides to walk into your book store, that’s the sales funnel’s interest stage.
Your buyer has a lot of different options. You need to make sure that you are the one to strike the deal. Analyze the market & the other competitors’ offerings.
Then place an irresistible offer that the buyer can’t deny. It can be a discount coupon or free shipping. However, it’s the stage to swoop your customers.
As for the example, your customer may spend some time on choosing books.
They might compare the price and the quality with other available options and finally decide whether to buy the book or not.
That’s the decision stage of the sales funnel. Depending on the outcome, the prospect may turn into a lead on this stage.
Once you are done with your first sale, you need to work on increasing your sales. Keep in contact with the customers, ask them about the product’s quality, take their reviews, and offer them your new products frequently to come back again.
Let me clarify again by turning to the book-store example. The four stages of a sales funnel turn a visitor into a prospect. The prospect then becomes a lead. And finally, the lead becomes a buyer.
How to Create a Sales Funnel?
To create an efficient sales funnel, you need to keep in mind the following five points-
1. Research And Select The Right Niche
Have a precise idea about your customers and find out their requirements. Research is vital, and finding the right niche is even more important if you want to get customers.
Otherwise, you will just be spending a lot on marketing and SEO but still not generate enough traffic.
2. Grab Your Customers’ Attention
After finding your niche, you need to make sure they come to you. Keep the customers posted about your products & services. Notify them frequently but not daily. You have to be persistent but not annoying. Otherwise, you will just lose your most valuable customers.
3. Create A Destination
Just getting their attention won’t result in a sale. You need to land them to a page where they will see the detailed product information & are able to make purchases. For that, you must create an effective landing page.
4. Arrange Campaigns
Once they have landed on your desired page, you will have their email information. Now offer them something fancy. It can be a buy 1, get 1 offer or some discount coupons or free shipment.
Let them know that these rewards are only for their first purchases. If they purchase more, more bonuses are waiting.
5. Maintain Contact
Last but not least, after the purchase, inform them of newer offers frequently. Ask them about the buying experience, offer free services if possible. The plan is to make them purchase again from you.
Importance Of Optimizing Your Sales Funnel
The optimization of a sales funnel is of paramount importance. You are not the only one who’s doing business in the market.
To keep the pace up with your competitors, you need to focus on converting the prospect into leads.
Keep in mind that the customers have plenty of options, but you don’t. So, if you rely on a hunch rather than a precise optimization, you will surely lose the customers.
To optimize efficiently, try to find out where your sales funnel lacks. Put yourself in the shoes of a buyer. Now find out where you lack the most.
Ask for the opinions of the customers. Do thorough research. Find out what pleases them the most, a 5% discount or free shipping or something else entirely?
You need to be patient because it takes an enormous amount of time to build a sales funnel. Focus on even the tiny parts. Work on what diversity you can add, how you can render the best customer service. Try to find out why some stages aren’t working. Explore all your options, & adjust your strategy accordingly.