The sales funnel is a powerful tool for businesses to understand and optimize their customer journey. It is a visual representation of the journey your customers go through from knowledge to research and decision making. The more you understand the sales funnel, the better you can help your customers, the better your sales will be. The first stage of the sales funnel is called the “knowledge level”, because it's where people first become aware of your product or service.
Potential customers may hear about you through your advertising, social media, and even word of mouth. How and why those people go down the sales funnel depends on your own sales and marketing capacity. At this point, your potential customers will move from the awareness stage to the interest stage. In addition, since you have all their email addresses on the landing page, you can create a series of emails to share educational content about your offer.
When you imagine a funnel, you're probably thinking of an object that is wider at the top and narrower at the bottom. You can think of a large container like all potential customers, the funnel as your sales process, and the smaller container as your list of fully realized customers. Above: “I'm just looking” This is the stage where your potential customers are trying to learn more about their problem. In a physical store, this is where a customer is just browsing.
This stage of knowledge and discovery is where good marketing shines, so you can take advantage of your most “practical” advertising campaigns. Awareness As the broadest part of the sales funnel, anyone can be a potential customer. Of course, only those who are truly interested will continue the customer journey. So, what kinds of tactics can you employ for a successful awareness campaign? social media marketing Use a variety of platforms to reach your target audience easily and frequently.
InMails and LinkedIn LinkedIn posts are a great way to raise awareness. Traditional advertisements Magazines, billboards and newspapers Traditional advertisements haven't gone out of style yet. They can be the perfect way to raise awareness for your brand. A sales funnel is the process that prospects go through to become customers.
Each stage of the funnel brings the buyer one step closer to making a purchase. A well-planned sales funnel will define the actions your company must take to bring potential customers to the next stage. Most sales funnels are divided into several steps, which vary depending on the industry and other factors. The most common sales funnel has four key steps that you can easily remember with the acronym AIDA: Awareness, Interest, Decision and Action.
This process is known as a funnel because it is represented as an inverted pyramid, or funnel, that shows the number of potential customers in each part of the sales cycle at any given time. The upper part of the funnel is wide, indicating the large number of people exposed to the company. As they express interest and interact with their company's marketing actions, the funnel shrinks. This means deeper interest and a shift toward potential customers.
Those most interested in your product or service go through the funnel as disinterested potential customers retire. Ultimately, sales funnel marketing strategies lead the potential customer to complete a purchase and become a customer or customer. Improving funnel efficiency at every stage is a marketing priority to make the entire sales process more profitable. At this stage, your goal is to generate enough interest after the initial exposure for the potential customer to sign up for a valuable free offer in exchange for their contact information, such as an email address or phone number.
This will also help you clarify your target audience and buyers by collecting data and deepening your understanding of your customers. Once a person realizes your brand, the next stage is to develop their interest in your business and learn about your offerings. Increasing your interest can start with online content that describes topics relevant to your company's offering. The company is also starting to build authority and credibility with its brand.
The action stage of the sales funnel is when a potential customer decides to make a purchase. Your company's priority now is to successfully meet the needs and expectations of new customers. To do this, you can offer additional support or educational materials about your product. Helping them learn to use your product correctly or effectively will give them more value to your offer and increase their satisfaction with their purchase.
Customer loyalty, also known as referral or retention, focuses on turning a customer into a repeat buyer. Retention is a key component of an effective sales strategy because it reduces the cost of finding new potential customers. As long as customers are satisfied with your services and continue to need your offer, they can continue to buy. Implementing retention strategies will also keep customers happier and can turn them into brand advocates.
Customer satisfaction is also what drives word-of-mouth marketing. Promote loyalty programs or customer rewards during this second stage of the sales funnel so that sales staff can follow up with prospects to learn more about their needs and challenges. A sales funnel traces the journey a potential customer goes through when buying products or services from start to finish - from when they first find out about it until they make their purchase (or not). Many sales funnels for small businesses look more like sieves with gaps left by patched up spreadsheets, sticky notes, missed quotes, and forgotten follow-ups - but understanding how it works will help you influence how potential customers go through it and whether they become buying customers or not.