Everything you Need to Know about Sales Funnels
n marketing lingo, a sales funnel describes your customer’s path to making a purchase. Visually, this path can be represented as a funnel with the top of the funnel representing your marketing approach and the bottom of the funnel representing purchasing customers. Each sales funnel has multiple stages and each business will have a different sales funnel depending on their sales model. In this blog, we’ll talk about the importance and key stages of the sales funnel.
The Importance of the Sales Funnel
Your sales funnel is a roadmap to connecting with your customers and motivating them to buy. A well-constructed sales funnel helps you to understand the thoughts, feelings, and behaviours of potential customers as they move along the path to making a purchase. Your sales funnel should guide your marketing approach and provide you insights into how to convert prospective clients into purchasing customers.
Key Stages of the Sales Funnel
More or less, there are generally 4 key stages of the sales funnel: Generating leads, garnering interest, evaluating your product or service, and finally taking action. Each of these stages can be broken down further depending on your company’s goals, but you can imagine the process to target sales in increasingly refined ways. Let’s have a closer look.
At the very beginning, you need to generate leads. You want potential customers to gain awareness of your company and the product or service you are selling. At this stage, people are just starting to learn about you and your company. They may come across advertisements on search engines or social media or even through recommendations and referrals. At this stage, you share basic information about your business broadly.
Next, you want to garner deeper interest in your product or service. Potential customers have probably landed on your website and they want to learn more about your brand. At this stage, you want to set yourself apart from competitors while also letting these potential customers know what you can do for them. You might achieve this through a landing page that highlights your strengths and successes.
After garnering interest, your potential customers will start to evaluate your products and services. They’ll want more specific information and they may start to look at sales pages or they may even reach out to your company directly by phone. During the evaluation stage of the sales funnel, you need to be able to provide potential customers with more robust information. Webinars, video demonstrations, even product trials can help your customers better understand the value your business provides.
Finally, the purchasing stage is when your customers act. This may mean you’ve made a sale…but that’s not always the case. At this point, if the sale is lost it’s important to know that you’ve still built a connection with your potential client. You want to nurture this bond. Email and social media campaigns can be a great way to continue to interact with potential clients and persuade them to purchase.
Ultimately, a well-constructed sales funnel will guide your marketing strategy from start-to-finish. At 99 Digital, we work closely with our clients to create a sales funnel that clarifies marketing goals at every step of the way; and, we’re confident this will help businesses see improved conversion rates while optimizing the return on their marketing investment.