A sales funnel is a marketing concept that traces the journey a customer goes through when making any type of purchase. It is an analogy of a funnel, where a large number of potential customers start at the top of the sales process, but only a fraction of them end up making a purchase. There are several stages in a sales funnel, usually referred to as the top, middle, and bottom of the funnel, depending on the company's sales model. At each stage, potential customers learn more about the company and its services and products.
They can contact their salesperson or customer service to get a quote and ask specific questions about their products or services. Based on data, content can be created for each stage of the sales funnel to help potential customers advance their sales portfolio. A sales funnel helps you understand your potential customers and what they're thinking, doing, and looking for at every stage of their journey. It also allows you to optimize over time, adjust your approach to different stages of the sales funnel, and discover why your efforts aren't working.
Groupon's business model and sales funnel are better thought of as a giant email list that has an attached website. The sales funnel shows the path your customers will take to buy your product or service. It includes all the control points where your customers will interact with your brand before they are ready to make a purchase. The journey traced through a sales funnel describes all the control points where your customers will interact with your brand before they are ready to make a purchase.
The funnel illustrates the idea that every sale starts with a large number of potential customers and ends with a much smaller number of people actually making a purchase. In the middle of the sales funnel, they're often called leads and at the bottom, when they make a purchase, they're called customers or customers.It is important to note that while some dead potential customers are people who aren't interested in your products or services or don't need them, there are others who may still be interested in what your company has to offer, especially if they get stuck in the middle or later stages of the sales funnel. To ensure success in converting leads into paying customers, it is essential to understand each stage of the sales funnel and create content that resonates with potential customers at each stage.By understanding each stage of the sales funnel and creating content that resonates with potential customers at each stage, you can take your own sales funnel set to the next level. This will help you optimize over time and adjust your approach to different stages of the sales funnel.